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WLUNAUSD

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
Will Luna provide traders a second opportunity to enter? Traders, As you know from my earlier video, I was about to enter WLUNA this morning but due to distractions, I missed the entry. Anywho, I am not one to FOMO in as I know that opportunities abound to those who are on the prowl for good setups and entry areas. There are plenty of crypto fish in the crypto sea. However, I love LUNA! It had hit my entry area (green box) perfectly and touched that support I have been speaking about for so long at $78. And I am bummed that I missed my entry. So, I decided to revisit this chart. The first thing I did was zoom into the 4hr to see what I could spot in terms of trends/levels/patterns and I immediately spotted this bullish descending wedge which we broke out of to the upside this morning. Years of experience has taught me that we love to revisit and pay final homage to significant resistance in a move I like to call, "Kiss Mama Goodbye". This is where we stop at resistance (89.67), turn around, and then drop back down to previous resistance (now support), testing it one final time. If this move occurs like I suspect it may, then we LUNA fanboys and fangirls will have one final chance for re-entry somewhere in the green box or below. Watch for this and set your buys accordingly. Best of luck to you all! -Stewdamus
W
by stewdamus
6
Luna Wluna has hit the buy range several times. Did you buy?Traders, Of course, much of the crypto market awaits further price action trend from our leader, Mr. Bitcoin. Currently (and for the past 4 days), Bitcoin has been unable to break support at 40,800. All eyes are focused on this very important level. But if you are game for trading long in this tepid environment, they Luna (WLUNA) seems to be one of the strongest alts in the bunch. That being said, here are the levels and targets I would shoot for on this one. -Stew
WLong
by stewdamus