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LUNA analysis – the price is approaching the local minimum, the long-term trend has not changed

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LUNA, like most altcoins, continues in the sideway structure in the short term and is currently declining. It has been created triple peak at $ 45.25, which also represents the resistance of the sideway structure. On the other hand, we have support around the last low at $ 38.00.

The main point of control is located on the surface $ 43.16 and around it the price in the current sideway structure also oscillates. However, short-term lows are still declining and therefore the end of the correction is not confirmed. The price can thus come from the current structure up, but also to correct.

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

LUNA has not changed the trend in the long run

Bullish scenario occurs when the price overcomes resistance at the $ 45.25 level and reaches a rising maximum. It is then located resistance zone at around $ 51.00. For now, however, the price has a problem overcoming resistance and we continue sideways. For the time being, volumes have also prevailed on the side of bears for a short time.

Bearish scenario means that the price will not keep the last low again at $ 38.00 and the correction will continue. Either way, the price will fall in the short term, but the most important thing will be to see if it falls above or below the mentioned minimum. In the long run, however, the price reaches ever – increasing lows and the trend remained unchanged.

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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