Long
LUNA/USD Daily TA Bullish
LUNA/USD Daily bullish. Recommended ratio 90% LUNA, 10% cash. Price is currently testing the upper trendline of the ascending channel from 02/26/22 (at $117) as support for the fourth consecutive session. Volume remains very low and has been alternating between buying and selling just about very other day, signaling that there is some consolidation taking place here. Parabolic SAR flips bearish at $100, this is bullish. RSI is currently trending up slightly at 68 and the next resistance is at 74.26. Stochastic remains bullish at 95 after resisting a bearish crossover at 91, the next resistance is at max top (100.88). MACD remains bearish and is currently trending up at 8.23; the next resistance (minor) is at 9.18. ADX is trending up slightly at 35 as Price continues to appreciate, this is bullish. If Price is able to continue its Price Discovery and breakout above the current ATH at $119.76, then it will likely test the Ascending Triangle breakout target at $136.48 before potentially heading higher. However, if Price breaks down below the upper trendline of the ascending channel from 02/26/22 ($115-$117), then it will likely retest $111.66 minor support before potentially heading down to retest $102.60 minor support. Mental Stop Loss: (two consecutive closes below) $102.60.
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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.