LUNA Technical Analysis: LUNA Price Teases Entry in the Three-Digit club?

The LUNA price retests the $100 All-Time High resistance. Amid the negative RSI divergence in price action, can buyers rise above this obstacle? Key technical points: LUNA coin price moves close to the descending trendline The 50-day EMA provides a dynamic barrier The 24-hour trading volume of Terra is $807 Million, marking a 16% fall. Past Performance of LUNA The parabolic recovery in Terra coin has doubled in less than a month. The recovery rally initiated at the February end has breached three significant resistance, i.e., $60, $77, and $93.6. Last week the altcoin turned from the $93.6 resistance, providing a 17.5% pullback opportunity before the price bounced back from $77 flipped support. Source-Tradingview LUNA Technical Analysis On March 8th, the LUNA buyers rebounded from $77 support with a morning star candle pattern. The sustained buying has driven the altcoin by 32.2%, hitting the ATH resistance of $100. However, the sellers are aggressively defending this resistance, trying to reject the coin to lower levels. The rising crucial EMAs(20, 50, 100, and 200) show the buyers have the upper hand in a bullish sequence. Moreover, the 20-day EMA has flipped to proper support, bolstering the buyers to maintain the bullish rally. RSI Indicator: The RSI slope shows rejection from the overbought boundary as the $100 psychological barrier keeps the bullish trend under control. Moreover, the bearish divergence projects the possi...