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Cryptoknowmics 2022-03-09 06:31:10

LUNA Technical Analysis: Electrified Bulls Soon To Surpass $100

LUNA coin price shows a phenomenal port-retest recovery of 20% in the past 36 hours from the $75 support zone. What will be the next bullish outpost? Key technical points: LUNA coin price surpasses $90 The stochastic RSI shows a potential bullish crossover The 24-hour trading volume in the Terra is $4.016 Billion, marking a 30% rise. Past Performance of LUNA LUNA prices rise above the $90 mark as it shows a remarkable recovery of 20% from the $75 support zone. The reversal creates a sharp V-shaped reversal reflecting the release of trapped bullish momentum after the retest, forecasted in our previous article. The release of buying pressure builds two massive bullish engulfing towers that undermine the last week’s fall. Source-Tradingview LUNA Technical Analysis As mentioned in our previous article, the LUNA price may shortly surpass the $100 psychological barrier and hit the $148 mark. However, a selling pressure expectation at $100 is high as it remains a crucial mark. The crucial EMAs maintain a bullish alignment as the altcoin continues to rise with the highly influential 50-day EMA and the trend-setting 200-day EMA. RSI Indicator: The RSI slope shows a sharp recovery to avoid reaching the halfway mark and remerges with the 14-day average line. However, the RSI slope remains at the overbought boundary, and the moment of surpassing it will generate a bullish signal. Stochastic RSI Indicator: The K and D lines project the pos...

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