LUNA trend prediction
Updated
I'm using Fib Trend-based Extension and Trendlines to predict a reversal of LUNA at around $122. It needs to go down to see the EMA 220 (1D).
This price is a crossing of Fib 0.786 and the upper trendline of the parallel channel. Moreover, volume is continously decreasing since it's started the second rally.
This price is a crossing of Fib 0.786 and the upper trendline of the parallel channel. Moreover, volume is continously decreasing since it's started the second rally.
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Although LUNA hasn't reached 122 before falling (because BTC dropped to fast), the reversal prediction in this price zone is correct. The next stop 83.3 is imminent. Then visiting 63.3 is a question of time if BTC is below 39K. The lowest level in this cycle is around $61.
Note
LUNA has visited 80.9 (and passed through 83.3 as expected).LUNA bounces here as BTC is still above 39K.
Let's see what will happen after the CPI announcement. I still think that LUNA would hit 69.3 for mid-terms.
Note
LUNA has been down faster than expected. It's arround $61 as predicted.UST is now trading below $1 which increases the selling pressure on LUNA.
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