- LUNA is safely climbing up the bullish ladder with safe breakouts along the way
- The 12th ranked token is rallying with the current market price close to its all-time high value
- The market cap is also up by 6.7% during the intraday session
LUNA has completely taken over the charts as the relatively new token has been performing quite well in the year with the current market price achieving the all-time high mark. The volume accounts for over $699,541,258 tokens traded away in the last twenty-four hours. The market cap comes out to be $20.6 billion and the current volume to market cap ratio stands at 0.03373. The LUNA/BTC and LUNA/ETH correlative pairs are also putting a positive value on the charts with the current values of 0.0008364 BTC and 0.01127 ETH, respectively, and both registering an increment in the prices during the intraday session.
After considering the EMAs of 20, 50 and 100-daily lines, one can find the positions where the breakouts happened and how LUNA continued to climb over them. If we consider the 100 EMA curve as pivotal for any breakout, we can do nothing but notice how the token climbs by producing steeping positive candles and then stabilising itself before climbing more. Currently, LUNA is trading above the MA lines, while 20 and 50 EMAs are running above the support line closest to the CMP.
LUNA may bring more profits to its holders
The upcoming bullish momentum is observable in the 4-hour time frame chart to conclude from the oscillators like MACD and the RSI. In the middle of October, the token saw a considerable bearish trend reversal and the same can be spotted on the MACD graph when the line ran below the zero mark. That was the only time in a month when such a negative reversal happened. Since then, the oscillator stayed on top, above the signal line and the zero level for most of the time and it suggests a good buying period. RSI levels went into the extremely overbought zone a couple of times but now are into the neutral zone, indicating a neutral zone and one may think of holding or profit booking.
Resistance is at $53.796 and support levels are present at $47.945 and $50.905
Conclusion- LUNA shows a lot of promises and may benefit its holders because of its better record till now. One can wait and wait for a minor dip to buy as the patterns show that the token always went up after the reversal. Nonetheless, investors have been warned and requested to invest with due diligence.
Resistance- $53.796
Support- $47.945 and $50.905