Sudden Reversal of 6.53%: LUNA price experiences a bearish start to the week with a 6.53% reversal.
Hanging on $1 Support: LUNA's price hovers around the crucial $1 support level, with buyers striving to maintain control.
Potential Drop to $0.82: A breakdown below $1 could lead to a correction phase, testing the 61.80% Fibonacci level at $0.82.
Market Pullback Influences LUNA: The overall market pullback leads to a quick reversal in LUNA's price after a weekend recovery.
216% Jump Preceding Correction: LUNA had a significant 216% increase from late September to early December before facing correction.
Struggle at $1.25 Barrier: Buyers' failure to surpass the $1.25 barrier led to the current pullback.
Current Trading Price: LUNA trades at $1.03, with a possibility of a bullish comeback signaled by a long-tail candle.
Technical Indicator - MACD: The MACD indicates a potential negative crossover, suggesting a trend reversal.
Risk of Losing $1 Mark: The increasing selling pressure and market FUD might lead to a deeper correction, jeopardizing the $1 level.
Possible Retest at Lower Fibonacci Levels: Previous price actions suggest that LUNA could bounce back from lower Fibonacci levels.
Potential Upside to $1.50: If LUNA sustains above $1, it could potentially fuel an uptrend towards $1.50.
Hanging on $1 Support: LUNA's price hovers around the crucial $1 support level, with buyers striving to maintain control.
Potential Drop to $0.82: A breakdown below $1 could lead to a correction phase, testing the 61.80% Fibonacci level at $0.82.
Market Pullback Influences LUNA: The overall market pullback leads to a quick reversal in LUNA's price after a weekend recovery.
216% Jump Preceding Correction: LUNA had a significant 216% increase from late September to early December before facing correction.
Struggle at $1.25 Barrier: Buyers' failure to surpass the $1.25 barrier led to the current pullback.
Current Trading Price: LUNA trades at $1.03, with a possibility of a bullish comeback signaled by a long-tail candle.
Technical Indicator - MACD: The MACD indicates a potential negative crossover, suggesting a trend reversal.
Risk of Losing $1 Mark: The increasing selling pressure and market FUD might lead to a deeper correction, jeopardizing the $1 level.
Possible Retest at Lower Fibonacci Levels: Previous price actions suggest that LUNA could bounce back from lower Fibonacci levels.
Potential Upside to $1.50: If LUNA sustains above $1, it could potentially fuel an uptrend towards $1.50.