LUNA almost touched ATH, bounced on a resistance at 100 USDT and looks like it's retracing. Before Do Kwon bought BTC yesterday this coin was assuming a bearish trend as it was already out of the bottom of the channel. After the massive BTC buy we can see it entered back in its ascending channel . Unfortunately I was shorting as I didn't know the "BTC shopping" was due for yesterday and I even lost money.... bummer!
All the indicators are lower than when price was at similar price last December, which isn't very ipsiring however volume increased and this can be a ring bell, if people gets excited and start FOMOing TA doesn't matter anymore. MACD is approaching a point where it could flip bullish as well.
Current green market it's all LUNA foundation buying BTC , if this brings back hype in the market then we'll see average investor sustain current prices otherwise when Do Kwon will stop buying BTC will fail to create support and go back down. Right now everyone is euphoric but try not to FOMO in.
About LUNA price: after not going over 100 USDT it's now over the channel's lower border, if it goes down next stop is 94. If it pumps again and makes support at 100 we'll see a new ATH.
My advice right now is not buy nor to sell until one of these two options materialize. I'll post screenshots in the comments.
All the indicators are lower than when price was at similar price last December, which isn't very ipsiring however volume increased and this can be a ring bell, if people gets excited and start FOMOing TA doesn't matter anymore. MACD is approaching a point where it could flip bullish as well.
Current green market it's all LUNA foundation buying BTC , if this brings back hype in the market then we'll see average investor sustain current prices otherwise when Do Kwon will stop buying BTC will fail to create support and go back down. Right now everyone is euphoric but try not to FOMO in.
About LUNA price: after not going over 100 USDT it's now over the channel's lower border, if it goes down next stop is 94. If it pumps again and makes support at 100 we'll see a new ATH.
My advice right now is not buy nor to sell until one of these two options materialize. I'll post screenshots in the comments.
Note
Last time LUNA touched this RSI level price retraced to 94, the same price I see as support in case of correction. After this pump I expect a correction unless some other hype train starts againNote
At daily RSI is breaking out, this might show it has still strenght to push upwardat 1h instead at every peak we see RSI making LH in a bearish DIV, when this will appear on higher timeframe LUNA will start retracing. I'm surprised, I expected this to happen last night
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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.
I do TA because I like and it seems at least 70% of my calls usually turn out to be true. If you wanna support me please donate some tradingview coin or check "about me"
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.