As previously warned (see link below), Luna, after breaking down and pullback, respected the resistance and formed the first red brick in the Renko chart.
This could be a sign of the beginning of a downtrend in the future. Three target levels are indicated in the diagram according to Volume profile and Renko support/resistance levels. Currently, only the descent to the first target is confirmed. The continuation of the descent process until the next targets in the future will be examined according to Luna's behavior.
This could be a sign of the beginning of a downtrend in the future. Three target levels are indicated in the diagram according to Volume profile and Renko support/resistance levels. Currently, only the descent to the first target is confirmed. The continuation of the descent process until the next targets in the future will be examined according to Luna's behavior.
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Related publications
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.