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LUNA – ALTCOIN CHART ANALYSIS

 


LUNA (Terra) has been consolidating for a few days and can hardly break free from there. While almost the entire altocoin market is pumping, Luna doesn't really manage to break out of the sideways phase.


We are currently trading at around USD 92.00 and are therefore in the same range as a week ago. We can't see any new impetus in the RSI either. Here we see rather a small downtrend.


The trading volume has recently decreased significantly, but this should not be considered bearish, as LUNA has performed extremely well in recent weeks. A consolidation phase is therefore also extremely important.


We see a similar picture on the daily chart. The uptrend, shown here in yellow, is still intact and is still considered support. Even if we now need a move upwards in order to be able to continue to hold it.


LUNA seems to be struggling to break the psychologically important $100 mark. So far we have been rejected time and time again. The daily RSI also indicates a small downtrend.


We have to say that the area around USD 96 represents an enormous resistance area, which we have to break through with enough volume to get a valid breakout. In the longer term, however, LUNA can be classified as bullish.

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