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LUNA analysis – the price is on the new ATH amid a market correction

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LUNA has succeeded since last correction rocket and grow again overcame ATH. In the market capitalization, it thus ranks higher and higher in the cryptocurrency rankings. This growth is also supported by growing volumes. Is the market overbought or is there room to continue this strong trend?

The token managed to bounce at a long-term local low of about $ 53.00. Here was the previous long-term maximum and such a test always represents bull signal. Volumes have been growing since the beginning of the current trend and even during the sale the volumes were not higher than in the current growth.

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

Will LUNA reach $ 100?

The correction was deleted within a few hours. The question is whether the trend will continue. The answer is that there is no reason why it should not continue in the short term. RSI does not indicate an overheated trend in the short term and is located in a neutral zone. So there is room for growth.

It is not possible to determine where the next target is located, as we are in a price discovery zone and without resistance. However, the trend signals healthy development and strength. Therefore, it is possible that the price will eventually attack the three-digit amount. In the short and long term looks like LUNA bullish.

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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