Long
LUNA/USD Daily TA Bullish
LUNA/USD Daily Bullish. Recommended ratio 100% LUNA, 0% cash. Price Discovery in Effect. Price is currently breaking out above the previous ATH ($111.66) and has formed a new ATH at $116.24. Volume remains very low and is on track to favor buyers for a second consecutive day, signaling that Price Discovery is supported. Parabolic SAR flips bearish at $90. RSI is currently trending up at 68.71 and is fast approaching 74.26 resistance. Stochastic is currently forming a bullish crossover at 69.86 support. MACD remains bullish and is currently testing 6.92 minor resistance. ADX is trending up at 32 as Price is in discovery, this is very bullish. If Price is able to continue the breakout, the next likely target is $136.48 (Ascending Triangle breakout target). However, if Price breaks down here then it will likely retest the upper trendline of the ascending channel from March 2021 at $102.60 minor support. Mental Stop Loss: (two consecutive closes below) $100.
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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.