LUNA/BUSD Daily TA Cautiously Bearish
LUNA/USD Daily cautiously bearish. LUNA currently having a Scarface moment, "You think you can kill me with bullets?". The Revival Plan posted by Do Kwon with help from the Lunatic community shows that perhaps there is enough support to have Luna rise from the ashes, but whether or not it ever reaches its previous ATH at $120 without removing or significantly modifying the UST:LUNA peg aspect of Terra is TBD. Recommended ratio: 5% LUNA, 95% cash. Price is currently trading for fractions of a cent ($0.00025748) just above max bottom as it has become a "meme coin" that some investors are betting big on recovering. Volume remains extremely high and is becoming more fairly balanced between buyers and sellers as it is attempting establish a new base. Parabolic SAR flips bullish at 30, this margin is bullish. RSI remains flat lining at the ATL of 14.25 for the fifth consecutive session. Stochastic also remains flat lining at max bottom. MACD is currently printing a new ATL at -24.65 and is beginning to form a trough; this is mildly bullish at the moment, though it would need to break out above -18 for a bullish crossover. ADX is currently trending up at 45 as Price remains near 0; this is bearish. If Price is able to break out above $0.01, then the next resistance is at $0.27. However, if Price stays below $0.01, it can trade down here for a while until LFG figures out the best way forward. Mental Stop Loss: (two closes above) $0.01.
*I'm using BUSD because the chart I had been doing LUNA/USD TA on was broken when Binance delisted that pair*
**You should only invest what you are prepared to lose into LUNA at the moment because it is currently still unclear how they plan to move forward**
*I'm using BUSD because the chart I had been doing LUNA/USD TA on was broken when Binance delisted that pair*
**You should only invest what you are prepared to lose into LUNA at the moment because it is currently still unclear how they plan to move forward**
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.