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LUNAUSD

LUNA/USD Daily TA Cautiously BearishLUNA/USD Daily cautiously bearish. BTC is currently testing the uptrend line from April 2017 (and from March 2020 on the weekly) at $30k major support, if it can establish support here it would be net bullish for the rest of crypto. Recommended ratio: 15% LUNA, 85% cash. Price broke down below $34.86 support and is currently testing $23.59 support, which coincides with the descending trendline from December 2021 (last tested in January 2022). Volume is very high as sellers continue to pile on for a sixth consecutive session of dominance. Parabolic SAR flips bullish at $83.82, this margin is very bullish at the moment. RSI remains oversold and is slightly trending down at 17.48 as it approaches a test of the ATL at 15.39. Stochastic remains bearish and is currently on the verge of a bullish crossover at max bottom; however, it may coast down here for some time in the bearish "autobahn zone". MACD remains bearish and is currently forming a new ATL at -7.64 with no signs of trough formation. ADX is currently trending up at 26 as Price continues to fall, this is bearish. If Price is able to defend $23.59 support then the next likely target is a test of $34.86 support-turned-resistance. However, if Price breaks down below $23.59 support, the next likely target is a retest of the uptrend line from January 2021 (~$18) for the first time since May 2021. It should be noted that May 2021 saw a decline in LUNA of 77%, this May LUNA has seen a 64% decline so far. Mental Stop Loss: (two consecutive closes above) $34.86.
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by dailytaguy
LUNA - $15 Area Provides Strong Support. Below that $5.35Traders, I never thought I'd be writing this post and discussing support on Luna at $5 and $15. But here we are. Literally, days after Luna was one of the most bullish coins on the market. And it is now a very big factor that currently is negatively spreading bearish sentiment over the whole crypto space. It is not the scope of this post to discuss the details of what occurred. I'll save that for one of my update videos, but in short, while attempting to save their pegged UST stable coin, Luna inadvertently added more FUD and selling pressure on BTC which already getting recked. Anywho, LUNA now become a predominant factor that we must carefully consider to help us gauge more accurately overall sentiment in the crypto space. And right now? We are extremely bearish, driven largely by great fear, uncertainty, and doubt (skepticism). Regaining trust, if it can be gained, always takes some time. Understanding what future LUNA price might look like can greatly aid us in gaining perspective on the rest of the market. As of now, LUNA remains on support at $24. However, zooming in to the 1hr/4hr shows a potential bear flag in formation. The price remains extremely fragile and I would not be surprised to see the bears follow through with a move down to the $15 area, a strong area of confluence in which support intersects with an ascending trendline. Below that we have approx. $5.35, which is super strong support. If it breaks that? ...no one really knows, but I would start to question survivability. VPVR supports both of these lower levels. You can see that we have a nice M pattern on the weekly. Should a bounce occur soon, we would move back up to test that $46-$50 area of resistance. Watch LUNA closely. It may start to become a lead indicator for us here. Stew
LShort
by stewdamus
9
LUNA - Outlook ✅Let's see how LUNA is behaving. This is a 1D chart. (Long Term) LUNA also broke two resistance areas and landed on support. There are two possible scenarios: either the price will pull back and hit resistance or pass the support area and go lower. Two resistance areas are pushing down on price, and this support level will only hold while Bitcoin is going sideways. Once BTC drops, LUNA will drop as well. The RSI shows that LUNA is below the 50 levels, the center. If you want to know how the RSI indicator works, take a look at this Educational Idea. It'll help you have better readings: Current Market Price: $30.60 Let me know your ideas. Good luck.
by ShawnMCR
1
LUNA/USD Daily TA Cautiously BearishLUNA/USD Daily cautiously bearish. *BTC is currently on the verge of testing the uptrend line from April 2017 on the daily (and from March 2020 on the weekly) at $30k major support*. Recommended ratio: 25% LUNA, 75% cash. Price is currently testing $34.86 support after dropping through 4 different support levels, this violent of a drawdown usually is followed by a fairly robust bounce. Volume continues to be moderate and growing for the third consecutive session; it's currently on track to favor sellers for four consecutive sessions. Parabolic SAR flips bullish at $88.77, this margin is very bullish. RSI is currently trending down at 20 and is oversold for the first time since May 2021; it is also currently breaking down below the 26.17 support + the uptrend line from November 2019 (26). Stochastic remains bearish and is currently testing max bottom. MACD remains bearish and is currently breaking down below the ATL (-7.75), forming a new ATL at -8.21. ADX is trending up (vertically) at 20 as Price continues to fall, this is bearish. If Price is able to establish support and bounce here at $34.86, then it will likely retest $45.78 and potentially higher. However, if Price continues its free fall then it will likely test $23.59 support (which would coincide with the descending trendline from December 2021) and potentially lower to retest the uptrend line from January 2021 at ~$20. Mental Stop Loss: (two consecutive closes above) $45.78 support-turned-resistance.
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by dailytaguy
4
LUNAUSDT Hit the bottom of its 6 month Channel Up*** *** For this particular analysis on TERRA we are using the LUNAUSDT symbol on the Phemex exchange. *** *** The idea is on the 1D chart with the blue trend-line being the 1D MA50 and the orange trend-line the 1D MA200. As shown, LUNAUSD has been trading within a Channel Up ever since its December 2021 High. Two Higher Lows and another Higher High have followed, forming the bullish trend on this Channel. Today the price hit the Higher Lows trend-line (bottom) of this long-term Channel Up on the liner scale. On the log scale, there is still some room for a complete pull-back, which happens to be on this diverging Higher Lows trend-line as illustrated on the chart. The RSI (1D) is exactly on the level (oversold 30.000) where the last Higher Low was priced on January 30 2022. If those Support levels hold, we expect LUNA to gradually start the new rally to a Higher High within the Channel Up. Attention is needed, as this time besides the 1D MA50, it also has the 1D MA200 as a Resistance on the short-term. Potential confirmation comes if the price breaks above it. The 0.618 Fibonacci retracement level ($97.000) can be used as a medium-term target with the 1.236 ($135.000) being the long-term (which priced the previous Higher High). -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Long
by TradingShot
10
LUNA/USD Daily TA Cautiously BearishLUNA/USD Daily cautiously bearish. Recommended ratio: 20% LUNA, 80% cash. Price is currently testing the uptrend line from July 2021 as support at $65 after briefly touching the uptrend line from January 2021 at $60. Volume is moderate for the first time since December 2021 as recessionary fears are putting selling pressure on almost all assets and equities. Parabolic SAR flips bullish at $93.60, this margin is bullish. RSI is currently trending down at 32 and is beginning to form a trough as it approaches 26.17 support. Stochastic remains bearish and is currently trending down at 2 as it approaches max bottom (where it can coast for a while). MACD remains bearish and is trending down at -5.15 with no signs of trough formation; the next support is the ATL at -7.75. ADX is currently trending up at 19 as Price continues to fall, this is bearish. If Price is able to defend support at the uptrend line from July 2021 at $65, the next likely target is a test of $70.15 resistance before potentially going higher (200 MA at $72). However, if it breaks down below this uptrend line, it will have the uptrend line from January 2021 at $60 as the next area of support before potentially retesting $54.50 major resistance. Mental Stop Loss: (two consecutive closes above) $71.93 (200 MA).
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by dailytaguy
LUNA/USD Daily TA Cautiously BearishLUNA/USD Daily cautiously bearish. Double Bottom invalidated, retest of 200 MA + uptrend line from July 2021 currently underway. Recommended ratio: 20% LUNA, 80% cash. Price is currently testing the 200 MA + $70.16 support + the uptrend line from July 2021 ($67) as support as the crypto market as a whole is seeing a weekend sell off. Volume remains very low and is on track to favor sellers for three consecutive sessions a slight uptick in activity seen in today's session. Parabolic SAR flips bullish at $93.95, this is mildly bullish. RSI is currently trending down at 33.25 after breaking below the descending trendline (support) from August 2021 at 38. Stochastic remains bearish and is currently breaking down below 21.78 support with no signs of trough formation. MACD officially broke below -2.43 after one week of testing it as support, it is currently trending down at -4 with no signs of trough formation. ADX is currently trending up at 16 as Price continues to fall, this is mildly bearish. If Price is able to defend support here at the uptrend line from July 2021 ($67), then it will likely test the 200 MA at $70.15 resistance before deciding its next move. However, if Price continues to fall below this uptrend line then it will likely retest the uptrend line from January 2021 at $60 as support. Mental Stop Loss: (two consecutive closes above) $71.52 (200 MA).
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by dailytaguy