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
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
The current bias on Luna is bullish.
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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