Currently Luna is in a rising wedge having tested the wedge resistance. A drop to the rising wedge support is likely. Rising wedges are bearish but in overheated markets, they can explode upward parabolically.
The RSI hasn't reached oversold and is above the trendline. Most likely this will result in the test of the 4H EMA which would be at the rising wedge resistance.
The RSI hasn't reached oversold and is above the trendline. Most likely this will result in the test of the 4H EMA which would be at the rising wedge resistance.
Note
broke down from rising wedge and did a bearish retest.Note
Bots no longer respect patterns and price will test the 4H 200ema from outside the wedge.
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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.