Lunyr continues to look very attractive especially after the strong correction down, from $69 to $19. During correction, LUN/USD lost 72% to USD, although prior wave up resulted in a gain of 1400%!
During the downside correction price almost reached the 200 Moving Average, but was stopped right at the 76.4% Fibonacci retracement level which has been rejected cleanly. It appears that Lunyr is ready to continue printing higher highs and higher lows with the next upside target being at $81. The resistance is confirmed by two Fibs applied to the last two corrective waves and it could be the key price for Lunyr. Break above it should push price further, up to $126 or perhaps even $170 target. At this point only a break and close below the 200 Moving Average could invalidate bullish outlook.
During the downside correction price almost reached the 200 Moving Average, but was stopped right at the 76.4% Fibonacci retracement level which has been rejected cleanly. It appears that Lunyr is ready to continue printing higher highs and higher lows with the next upside target being at $81. The resistance is confirmed by two Fibs applied to the last two corrective waves and it could be the key price for Lunyr. Break above it should push price further, up to $126 or perhaps even $170 target. At this point only a break and close below the 200 Moving Average could invalidate bullish outlook.
Comment:
Good start by Lunyr