LUNA Technical Analysis: Rounding Bottom Hints $100 Breakout

LUNA coin price forms a rounding bottom pattern with the neckline at the psychological barrier of $100. Will the bulls surpass the neckline? Key technical points: LUNA price approaches the $90 mark. The altcoin shows a bullish reversal from $85. The 24-hour trading volume of Terra is $2.79 Billion, marking a 35% rise. Past Performance of LUNA LUNA coin price finds demand near the support confluence of the 200-day EMA and the psychological support of the $50 mark. The reversal helps with the rounding bottom pattern formation with the neckline at $100. The rising trend momentum with the 95% jump in the last three weeks increases the chances of the $100 breakout. Source-Tradingview LUNA Technical Analysis LUNA coin price has once failed to rise above the neckline of the rounding bottom pattern; however, the continuing rally proposes another breakout attempt. The constant support from the 50-day EMA after avoiding the death cross promotes the higher low formation with the increasing possibility of rounding bottom breakout. However, on the opposite end, a retracement to the 50-day EMA could account for a 15% discount. RSI Indicator: The RSI slope shows a wavering long-range movement near the overbought boundary while showing a slightly bearish downfall. However, the string spikes with a silent bearish divergence as the price form a higher low, but the RSI fails to copy that. MACD Indicator: The MACD and signal give a bearish crosso...