Chart shows common supports and resistances based on the Fibonacci and price action. The total evaluation for LUNA is bullish. However, the coin itself has already reached very oversold regions and is now showing descending buying pressure even in the daily timeframe, this would mean that the momentum to keep the price above 70$ is no longer the same when it was 30-40$, therefore one should assume a certain backtest or retracement to further "test" the interest of the target audience. If the price revisits the previous support and bounces from it, this would mean confidence for long term investors. At the moment, the coin is not ideal for scalping/trading and it is not also confirmed to do a "Short". One should be cautious trading this coin as the retracement is overdue.
You can potentially have a greater chance of being profitable at the designated buy orders shown in the chart compared to what is in the above (which is normally the selling zone).
You can potentially have a greater chance of being profitable at the designated buy orders shown in the chart compared to what is in the above (which is normally the selling zone).
Trade active:
Due to the positive news of FED today, the move to the upside is more likely now than approaching the 42$ range however the resistance near the 80$ is still a major resistance until proven otherwise. Happy Longs Everyone!