LUNA Technical Analysis: The Probability Of A Rebound To $79 Is High

The last two trading weeks on the LUNA market have significantly changed the mood of investors in this cryptocurrency. If in mid-January 2022 the LUNA price moved in the consolidation range of $79-$90 and inspired the idea of ​​global continued growth, now there are no such opinions on the market. The sharp start of the Terraluna price correction took place at low volumes. The global liquidity zone, which is likely to start a strong rebound of the LUNA price is in the range of $34-$40. It is this range that significantly slowed down the growth of the LUNA price in the period from August to November 2021. The bad news is that this liquidity range is still about 30%. If buyers do not allow to close the current weekly candle below the previous low, there will be a chance of rebound to $79. However, in our opinion, this will be just a corrective rebound before a new fall wave. LUNA Technical Analysis On The Daily Timeframe https://www.tradingview.com/x/dVPqHTIu/ Analyzing the movement of the LUNA price on the daily timeframe, you can see a local increase in volumes during the last fall wave. Decreased price volatility with increased volumes indicates a high probability of a local reversal of the LUNA market. Though, we expect this reversal within the current growth wave with a maximum target of $74-$79. This range also includes the trend line of sellers, which they have been keeping since 27 December 2021. But, this is the final t...