LUNA Technical Analysis: Market Reversal Has Begun

Quite a dangerous situation arose on the global chart of LUNA cryptocurrency. For a month, buyers have not been able to reach the main target of $148, which we wrote in the previous forecast. The dynamics of the LUNA market during growth was unchanged and this only increased the probable tragedy. The exit of the LUNA price from the local passive growth channel showed the first signal of market weakness. A modest 30% price fall (other cryptocurrencies have fallen much lower) shows the strength of the cryptocurrency at the moment. However, it should be understood that below the $60 mark, a real catastrophe for the LUNA market could begin. https://www.tradingview.com/x/Sat2ZqBx/ The volatility of this cryptocurrency will quickly bring the price to $33. Therefore, in case of increasing aggression of sellers (length of candles and increase in trading volumes), investing in LUNA should be forgotten for a while. If you keep the $60 mark on the weekly timeframe, the $148 target will be relevant again. However, you can risk buying LUNA for $60 only after a firm fixation of the price on the weekly timeframe. In the case of a smooth push of this mark at low volumes, it is better to close your long positions and prepare for a new fall wave. Technical Analysis Of LUNA On The Daily Timeframe https://www.tradingview.com/x/wzSIc1gV/ Analyzing the LUNA price movement on the daily timeframe, we can see the formation of a new local consolidation...