- Terra luna coin at the monthly chart is trading near its vital supply zone, from where the coin is getting rejection with falling volume activity.
- Over the monthly chart, the coin is placed above its all vital moving averages of 100 and 200-day lines and struggling near its SMA of 20 & 50-day lines.
- The pair of LUNA/BTC is trading at 0.000681 BTC with an intraday gain of 1.00%, and the ratio of DOT/ETH is CMP at 0.01001 ETH with a 24-hour change of -0.38%.
Terra luna coin is just CMP below its vital supply zone and faces a firm rejection from the higher area. Meanwhile, the crypto asset is trading above its major moving averages of 100 and 200-day lines. Volume activity at the monthly chart is creating divergence with the price action, as it is heading towards the lower levels. The volume activity needs to improve sharply and jump above its average volume line to suppress its supply zone.
Currently, the bulls are trying to hold their short-term moving averages of 20 and 50-day lines to maintain their bullish trend. Support on the lower side is $37.50 and $33.00, whereas resistance on the higher side is $45.50 and $49.45.
Terra luna coin is trying to overcome loss after a sharp decline
Terra luna coin is trying to overcome loss after a decline from the higher levels, and volume activity is increasing. The technical parameters are heading towards the higher levels after a slight recovery from the lower levels. Volume at the 4-hour time frame increases and indicating some sign of recovery from lower levels. LUNA is trading at $41.05 with an intraday jump of -0.08%, and the volume to market cap ratio is 0.05943.
Relative Strength Index (BULLISH): Terra luna coin RSI is heading towards the higher or overbought zone at the weekly chart. In contrast, LUNA trades near the lower area and projects a slight recovery with good buying action, RSI at 46.
Moving Average Convergence Divergence (BEARISH): The daily chart projects a bearish trend at the 4-hour time frame. At the same time, the seller’s line (red) overpowers the buyer’s signal line (green) with an upcoming positive crossover.
Support levels: $37.50 and $33.00
Resistance levels: $45.50 and $49.45.