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LUNA analysis – in a few hours the price increased by 9%. Volumes are rising sharply

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LUNA, unlike many high-cap coins, is gaining a decent appreciation after the recent short-term market collapse. The price reached in just a few hours appreciation 9%. Plus, sharply volumes have also increased which is another bull signal. The trend does not seem to be slowing down and will continue, at least in the short term. Where is the target?

At the time of writing, the price is around $ 46.40. Coin managed to overcome it triple peak at resistance $ 45.25. The team definitely ended the sideway structure and set up a new one growing trend. The question is where this leg can stop. The next significant resistance is at around $ 51.00.

LUNA / USD 4HLUNA / USD 4H. Source: TradingView

LUNA grows in times of correction

Before the price reaches the mentioned target, the creation of a side structure is also in play and the price does not have to go up immediately without any minor correction. However, it is still true that the long-term trend reaches higher lows and highs. In the long run the trend remains unchanged and is likely to reach new ATH over time.

RSI it has long indicated a positive divergence until the price finally managed to confirm it and now the indicator and the price converge. Should the price start to fall, it is possible that it will test the previous $ 45.25 resistance as a new support.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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