January 21, 2022

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LUNA Analysis – Price on new ATH amid market correction

Luna on new ath amid market correction. Source: Shutterstock.com/FellowNeko

LUNA has since succeeded last correction Rocket and grow again BEAT ATH. In market capitalization, it thus ranks higher and higher in cryptocurrency rankings. This growth is also supported increasing sizes. Is the market overbought or is there room to continue this strong trend?

The coin was able to rebound at the local long-term low around $53.00. Here was the previous long-range maxima and always represents this test Taurus sign. Volumes have been increasing since the beginning of the current trend and even during the sell-off the volumes have not been higher than in the current growth.

Luna / Dollar 4 hours
Luna/$4 hours. Source: TradingView

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Read more about the reasons for LUNA’s growth from a fundamental point of view – Terra Blockchain is rushing into the Top 10! What is behind the success of this project?

Will the LUNA cost $100?

The patch was deleted in a few hours. The question is whether the trend will continue. The answer is that there is no reason why it should not continue in the short term. RSI It does not indicate a short-term frenetic trend and is in neutral territory. So there is room for growth.

The next target cannot be located, we are in the price discovery zone and without resistance. However, the trend indicates healthy development and strength. Therefore, it is possible that The price will attack the three-digit amount at the end. In the short and long term Looks like LUNA is bullish.

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Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Markets are unpredictable and without adequate knowledge trading is a gamble. We are not responsible for any losses. Market movements are difficult to predict, so we recommend considering the risks of trading on the stock exchange.