Just looking at the higher TF for LUNA and as we see, some recent price support for the 2.4 area may be able to keep price from breaking the local upward move. If this 2day can close green and moving upward i think its certainly time to jump on the longs if not done so.
Right now theres 20 hours left in the 2day candle, IF we begin to see some upward action from price, especially breaking above/holding 2.50 we should be on the way to big upward moves.
Just made a simple visual for potential 2 upward situation - 1) just a short squeeze before continued consolidation (to the 5-6$ areas) 2) an over shooting price to the above fib level of $11 (likely to stop just short of that around $9/10)
This is very typical like Shiba a year ago where we only have resistance at $3.5 and nothing after that. Maybe it's a dream but I'm a seller just above $37
Solldy
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It's a beautiful chart. You have a very good use of technical analysis tools. When you analyze the long term, do you consider the fundamental analysis?
AssetMasteryandInvesting
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@Solldy, I don't 'trust' technicals, just use them in conjunction with other macro factors as a helpful price guide - not so much as an indicator. EG, fundamentally for LUNA, DK likely controls alot of LUNC (i suspect the trillion coin wallet) and also the BTC from the reserves. LUNA has the big money support from investors, Lunc is going to be a liquidity tool to pump luna again, the $8 pump confirmed this for me also the volume was very similar to the BTC reserves DK may hold. DK is just an opportunist within the markets, but now he has his reputation on the line and the macro fundamentals support luna rising (not as high as before certainly) and rising nether-less. Selling pressure is a non-factor as its already been dumped by retail and anyone with leverage is out/airdrops are slow and yet to hit. Very bullish over all. Wouldn't be surprised to see the upward pump and dumps continue to rise and LUNA remain above $10 EOY.
Indeed i think the inital $8 move was a test to see how price reacts/a easy liquidity grab by DK, and the next move should be bigger and more sustained - $11 being the target and a new floor price new $4-6 potentially
SwallowPremium
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Thank you so much for share this information with us!