LUNA/USD Weekly TA Cautiously Bullish

7 de abr. de 2022

LUNA/USD Weekly cautiously bullish. Recommended ratio: 70% LUNA, 30% cash. Price is in week two of attempting to reclaim the uptrend line from July 2021; it is currently trending down at $108 as it approaches the uptrend line at $104. Volume remains very low and is currently on track to end the six week buying streak if it closes this week in the red. Parabolic SAR flips bearish at $50, leaving lots of room for a downward correction. RSI is currently trending down at 66 as it approaches 64.56 support. Stochastic remains bullish and is currently testing 64.56 resistance; the next resistance is at max top (100.78). MACD remains bullish and is currently breaking out above 14.09 minor resistance at 15.44. ADX is trending up slightly at 40 as Price continues to appreciate, this is bullish. If Price is able to breakout above the ATH at $119.72, Price Discovery will continue and the next likely target is a test of $125 before potentially testing $150. However, if Price closes below the uptrend line from July 2021 at $104, it will likely retest $87.51 minor support. Mental Stop Loss: (one close below) $104.