This can spur a move to a fresh ATH for LUNA
Since last week, LUNA maintained its consolidatory phase, trading within the tight channel of $40-$35. However, bulls have been paving way for an upwards breakout- a finding backed by bullish divergences along the RSI, MACD and Awesome Oscillator.
Market observers should keep an eye out for a close above the confluence of the 200-SMA and 50-SMA as LUNA looks to embark to a new ATH. At the time of writing, LUNA traded at $35.9, down by 0.4% over the last 24 hours.
Source: LUNA/USD, TradingView
LUNA’s price was left reeling after a double top around $48.8 triggered a near 30% decline from record levels. Over the near-term, a bearish crossover between the 50-SMA (yellow) and 200-SMA (green) could keep LUNA restricted between the $33-$35 range.
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