Welcome to this analysis about TERRA LUNA and the 2-day timeframe perspectives. In recent times we have seen the cryptocurrency market dumping heavily to the downside with the main major coins increasing bearish pressure. As already mentioned before guys the cryptocurrency market changing more and more and the divergence between the altcoins is increasing more and more. This is why there are crypto coins that are forming appropriately bullish setups while there are others forming neutral phases or ones that are more bearish in the market. With Luna now I discovered an important coin that managed to hold its position throughout the crash and is forming a major bullish formational structure on which it can build up, therefore, I detected the main structures and formations to consider here.
As when looking at my chart we can watch there how Luna is forming this massive ascending-channel-bull-flag-formation marked with the blue boundaries and the coherent wave-count within with the waves A to E already completed. Now as Luna bounced within the lower-boundary of the ascending-bull-flag-formation to the upside it moved on from there to test the upper-boundary of the formation. Now with these determinations, we can also see this triangle-formation forming in the structure above the 35-EMA in red and the 10-EMA in green which is actually the right setup for a continued breakout to complete the triangle and when this happens a final breakout above the upper boundary of the ascending-channel-bull-flag-formation will be the origin of great continuations.
Taking all these factors into the consideration here with Luna we have a bombastic structure on which Luna can build on and finally complete this whole formation appropriately. When the formation is completed as suggested this will activate the bull-flag-target-zone marked in my chart in blue in the 300 Usd level. Once Luna has reached out to this level it has to be elevated how Luna continues from there, remember that we always trade what we see not what we think therefore we will see how these structural determinations will move on forward with Luna. For now, Luna is one altcoin that is forming this great formation, there can be others as well that have some good potentials, let me know in the comments and I possibly look into it.
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Information provided is only educational and should not be used to take action in the markets.