- LUNA is climbing up the chart after successfully recovering from the recent market crash
- The current market price of the token is near its 24-hour high price mark
- The overall price of the token is 16.75% greater than the last week
LUNA climbed up the chart again after the recent price reduction a couple of days ago. Since yesterday, the token’s current market price has been only down by 1.27%. The current market cap of LUNA has been up by 17.32% during the intraday session, while the 24-hour trading volume suffered a loss of 17.43% during the same session. The volume to market cap ratio stands at 0.1241. The LUNA/BTC pair enjoyed an increment of 11.16%, followed by the LUNA/ETH pair with an increment of 8% during the intraday session.
The 30-minute chart of LUNA shows the current growth pattern along with its price action. The token once down after the crash went up like a pullback to settle down near its pre-fall closing price. Then, the token rallied towards its current market price by forming a bullish scallop pattern (refer to the purple curve). LUNA may climb further if it continues on the chart after making a cup and handle pattern (refer to the curve and arrow). The significant EMA lines are running below the current market candle to support its current price action. The 50 and 100 EMA lines rally closely, while the 200 EMA has a streamlined motion.
Oscillators support the current action of the token but warn investors about LUNA going into the danger zone.
One can spot the previous performance of LUNA from the 4-hour chart. The token overperformed by 42.67% in the last month. The MACD line of the token is above the zero level and about to get over the signal line. However, the line is divergent from the histogram in the opposing plane. Hence, it is safe to say that the indicator suggests no drastic growth. The RSI level valuating 61.59 resides in the neutral zone, but the graph indicates that the token is going to the overbought zone. Therefore, investors have been warned.
The resistance is at $78.748. The support levels are present at $48.011 and $59.825.
Conclusion- LUNA’s current bullish rally proves to be profitable for day traders as well as those who intended to hold their long positions. The market crash had lesser effects on the token and was dubbed a safe investment.
Support- $48.011 and $59.825
DISCLAIMER: The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.