LUNA Technical Analysis: Let's Go To The Mark Of $148
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Currently, the LUNA cryptocurrency is one of the strongest cryptocurrencies that can actively grow while increasing Bitcoin dominance. Therefore, if you are currently looking for a cryptocurrency to invest in - LUNA is an ideal candidate. However, you can buy LUNA in two cases. The first is after the $148 test and after the price correction to $100. If the price stays in the range of $100 and does not go lower - the global LUNA growth wave is incomplete. Another good chance to buy LUNA will come after a failed break of the $100 mark. In that case, we will expect an aggressive fall wave to the $60 range. Why should you consider buying LUNA near the $60 mark? To do this, it should be considered in detail the smaller timeframe.
LUNA Technical Analysis On The Daily Timeframe
If you look closely at the LUNA price movement on the daily timeframe from August 2021, you can see a slowdown in the growth trend. This is evidenced by the red trend channel, in which the coin price clearly changed the angle of upward. In addition, the bottom trend line of this growth channel is working well for the fourth time. As soon as the LUNA price touches the lower trend line of the growth channel, there is a reversal. Also, this growth channel confirms the probability of the $148 test, as it is its upper trend line.
Therefore, it will be reasonable and safe to buy LUNA near the $60 mark in the event of a cryptocurrency market correction. Also, carefully studying the LUNA price movement over the past two weeks, you can see a significant increase in trading volumes. Since 21 February, there has not been a single day with low volumes. Thus, the probability of breaking the $100 mark up is quite real. In the worst case, there may be a local correction to the $70 mark, from where buyers will try to storm the $100 again. But, while the coin price is above $70 - the mood in the market will be bullish.
The LUNABTC Price Has Updated The Historical High
The LUNABTC price chart adds significant positivity and hope for the continuation of the growth wave. In the weekly timeframe, we see that buyers do not think to allow the market even a local correction. The departure of the LUNABTC price beyond the black trend line did not help sellers to start a correction in the market. We expect the LUNABTC price to continue to grow with the first target of 0.0034.