LUNA/USD Daily TA Neutral Bullish
LUNA/USD Daily neutral with a bullish bias. Recommended ratio: 70% LUNA, 30% cash. Price is currently testing the 50 MA + $92.78 minor resistance for the fifth consecutive session; this consolidation is slowly weakening and risks becoming a capitulation but still favors bulls in the short to medium term. Volume remains low and is fairly balanced between buyers and sellers, this is neutral at the moment. Parabolic SAR flips bearish at $79.57. RSI is currently trending down at 48.51 as it hovers just below 51.40 resistance for the fifth consecutive session, this is mildly bearish. Stochastic remains bullish and is currently resisting a bearish crossover at 83.48, the next support is at 69.86 and the next resistance at max top. MACD remains bullish for the second consecutive session and is trending up at -1.05, the next resistance is at 0. ADX is trending down at 21.82 as Price continues to consolidate, this is mildly bearish. If Price is able to establish support at the 50 MA + $92.78, then the next likely target is a retest of $102.60 minor resistance. However, if Price breaks down out of consolidation, then it will likely face capitulation which would take it down to retest $84.05 support. Mental Stop Loss: (one close below) $89.66.
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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.