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Luna Price Analysis: After Up 50% In One Week, What’s Next For LUNA?

Key Support Level: $ 77

Key Resistance Level: $ 100

After Luna touched the support at USD 55, the price entered a massive rally, nearly doubling the price in less than 10 days. Today Luna stopped USD 2 before reaching USD 100. The cops have to wait another day to see Luna in three digits. Hence the resistance at $ 100, and the main support is now at $ 77.

Luna continues to be one of the most powerful on the market, with its Terra network recently replacing Binance Smart Chain as the second largest network by total value locked down after Ethereum.
Chart according to TradingView

This is what awaits you in this article

Technical indicators

Trading Volume: Volume stayed high during this bullish rally. This is an impressive feat considering that not long ago the overall market was in a very bearish state.

RSI: The RSI has entered the overbought territory on the daily timeframe. When this happened in early December, Luna corrected over 30%. That is why it is important to be very careful.

MACD: The daily MACD is bullish and shows no immediate weakness. If the MACD histogram is to hit a lower high in the future, it should be interpreted as a warning sign that this rally is over.
Luna Price Analysis: After Up 50% In One Week, What’s Next For LUNA?, Crypto Trading NewsChart according to TradingView

Bias

The bias on Luna is bullish, but it’s important to stay vigilant, especially around $ 100.

Short term forecast for Luna price

Luna continues to be driven by strong fundamentals. This is likely to continue as long as the overall market remains optimistic. It is important to be careful now, as there is one on every strong rally correction follows. If Luna fails to break above $ 100, the price could drop to the support at $ 77.

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Source: Crypto News Deutsch

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