Long
LUNA/USD Daily TA Bullish
LUNA/USD Daily bullish. Recommended ratio 100% LUNA, 0% cash. Price Discovery in Effect. Price is breaking out above the upper trendline of the ascending channel from 02/26/22 ($113) after bouncing from the previous ATH at $111.66; it is currently at $116.68 as it approaches a retest of the new ATH ($118.21). Volume remains very low and is back to favoring buyers after favoring sellers in yesterday's session, this strengthens the case for a continuation rally. Parabolic SAR flips bearish at $95.50. RSI is currently trending up at 68.88 and the next resistance is at 74.26. Stochastic remains bullish and is currently trending up at 92.81 as it approaches a retest of max top (100.68). MACD remains bullish and is currently trending up at 7.87; the next minor resistance is at 9.16. ADX is trending up at 35.54 as Price continues in Discovery, this is bullish. If Price is able to break out above the ATH of $118.21, then it will likely test the Ascending Triangle breakout target at $136.48 before potentially testing the Cup and Handle breakout target at $155. However, if Price breaks down below the previous ATH at $111.66, then it will likely test lower trendline of the ascending channel at $102.60 minor support. Mental Stop Loss: (two consecutive closes below) $100.
**NOT FINANCIAL ADVICE, BUT ACTUALLY WTF YES IT IS**
**NOT FINANCIAL ADVICE, BUT ACTUALLY WTF YES IT IS**
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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.