Luna Price Analysis: LUNA Challenges ATH Following 22% Price Explosion in a Day

Key Support level: $80

Key Resistance level: $104, $120

Luna entered a strong rally after touching the key support at $80 and reached $100 today. Since then, there was a short pullback, but Luna is well-positioned to challenge the current all-time high at $104. The market momentum favors bulls, and Luna may set a new record soon.

Chart by TradingView

Technical Indicators

Trading Volume: The buying volume increased as the price went up today, which is a strong bullish signal.

RSI: The RSI is closing the overbought region at 70 points. The indicator is likely to move even higher if Luna sets a new all-time high.

MACD: The daily MACD is giving positive signals, and the moving averages are expanding. The resilience from bulls will likely be tested soon by the key resistance.

Chart by TradingView

Bias

The current bias on Luna is bullish.

Short-Term Prediction for Luna Price

If the cryptocurrency manages to set a new record and turn the $100 level into support, then its price is likely to move higher. The resistance level at $120 would be the next target.

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