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LUNAUSD

LUNA/USD Daily TA Cautiously BearishLUNA/USD Daily cautiously bearish. Recommended ratio: 30% LUNA, 70% cash. Price formed a bearish engulfing candle that took it back down below $84.05 support earlier today (in yesterday's session) and is currently trending down at $81; the next support is at $78. Volume remains very low and broke the two-day streak of buying earlier today (yesterday's session) and is on track for two consecutive selling days if it closes today in the red. Parabolic SAR flips bullish at $102.60 minor resistance. RSI is currently trending sideways at 39 and is technically still testing the descending trendline from August 2021 as support. Stochastic is currently on the verge of regressing to a bearish crossover at 7.50 (a fall below 7 would accomplish this). MACD remains bearish and is currently testing -2.43 minor support with no signs of trough formation; this is bearish. ADX is currently beginning to trend up slightly at 30 as Price faces more downward pressure, this is bearish. If Price is able to recapture $84.05 support, then the next likely target is a retest of $92.78 minor resistance. However, if Price continues to fall from here (or is rejected at $84.05 resistance) then it will likely retest $78.04 minor support before potentially testing $70.15 support. Mental Stop Loss: (two consecutive closes above) $89.52.
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by dailytaguy
LUNA/USD Daily TA Neutral BearishLUNA/USD Daily neutral with a bearish bias. Recommended ratio: 45% LUNA, 55% cash. Price continues the bounce upward from $84.05 support in a bid to establish it as a major support; it is simultaneously forming a bear flag in doing so (something to monitor). Volume remains very low and is on track to favor buyers in two consecutive sessions if it closes today in the green. Parabolic SAR flips bullish at $108. RSI continues to test the descending trendline from August 2021 as support and is currently trending up at 43 (just above the trendline). Stochastic is attempting to establish a bottom at 3.56 and is currently forming a bullish crossover at 7.50; the next resistance is at 21.78. MACD remains bearish and testing -0.12 support; it is currently trending down at -0.60 with a slight angle toward a trough formation starting to be made. ADX is trending sideways at 28 as Price is attempting to establish a key support at $84.05, this is neutral at the moment. If Price is able to continue trending up, the next likely target is a retest of the 50 MA at $92.78 minor resistance. However, if the bear flag plays out, Price will likely breakdown below $84.05 and retest $78.04 minor support before potentially falling lower. Mental Stop Loss: (two consecutive closes above) $92.56.
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by dailytaguy
LUNA/USD Daily TA Neutral BearishLUNA/USD Daily neutral with a bearish bias. Recommended ratio: 40% LUNA, 60% cash. Price is currently testing $84.05 support for the third consecutive day and is beginning to form a bearish flag as it attempts to establish support. Volume remains very low and broke the two day streak of selling yesterday with Price attempting to bounce here; a green close would strengthen the case for temporary support at $84.05. Parabolic SAR flips bullish at $108. RSI is currently testing the descending trendline from August 2021 at 42 as support. Stochastic is currently crossing over bullish at 4. MACD remains bearish and is showing no signs of trough formation as tests 0 support. ADX is beginning to trend up at 28 as Price is attempting to find support, this is mildly bullish. If Price is able to establish support at $84.05, the next likely target is a retest of the 50 MA at $92.78 minor resistance. However, if Price breaks down here, it will likely formally retest $78 minor support before potentially heading lower. Mental Stop Loss: (two consecutive closes above) $92.56.
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by dailytaguy
LUNA/USD Weekly TA Neutral BearishLUNA/USD Weekly neutral with a bearish bias. Recommended ratio: 35% LUNA, 65%% cash. Price is currently testing $87.51 minor support (breaking down below at $85). Volume remains very low and will make it two consecutive weeks of selling if it closes in the red this week. Parabolic SAR flips bearish at $51, this leaves a lot of room for Price to fall and still not flip the SAR bearish . RSI is currently testing the uptrend line from November 2019 at 56. Stochastic is currently in the process of crossing over bearish at 58, just below 66.26 resistance. MACD remains bullish and is trending down at 13 after forming a peak at 14.09 minor resistance; if it crosses below 12 it would be a bearish crossover. ADX is trending sideways at 41 as Price is falling, this is neutral. If Price is able to establish support at $87.51, the next likely target is a test of $98-$105 before reassessment. However, if Price continues to break down here, it will likely retest $74.60. One condition to pay attention to is Price and its relationship with both the Daily and Weekly MACD , if Price were to break below $78 on the Daily, MACD would likely lose -0.12 support and test -2.43 minor support; if this were to happen it would likely plunge the weekly MACD from 13 to 12, causing a bearish crossover; this would potentially take Price down to between $57.15 and $74.60 in the short to medium term. Mental Stop Loss: (two consecutive closes above) $100. **Occasional fundamental analysis on my Twatter**
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by dailytaguy
LUNA/USD Daily TA Cautiously BearishLUNA/USD Daily cautiously bearish. Recommended ratio: 30% LUNA, 70% cash. Price has broken down below the 50 MA ($90.50) and is currently testing $84.05 support. Volume remains low and with a red close today would favor sellers in eight of the past ten sessions (indicating enough buyers currently do not see value in above-$100 LUNA). Parabolic SAR flips bullish at $114. RSI remains trending down and is currently testing the descending trendline from August 2021 at 40 as support. Stochastic is currently attempting to crossover bullish at 4.50 as it precariously hovers over max bottom, this is mildly bearish. MACD remains bearish and is currently trending down at 1.56 as it approaches 1.16 support. ADX is currently forming a trough at 26.6 and is slightly trending up as Price continues to fall, this is bearish. If Price is able to establish support at $84.05, the next likely target is a retest of $92.78 minor resistance (which would coincide with the 50 MA). However, if Price continues to fall here, it will likely retest $78.04 minor support. Mental Stop Loss: (two consecutive closes above) $97.77. *Occasional fundamental analysis on my Twatter*
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by dailytaguy
LUNA/USD Daily TA Neutral BearishLUNA/USD Daily neutral with a bearish bias. Recommended ratio 35% LUNA, 65% cash. Price is currently testing $92.78 minor support for a third consecutive session as the 50 MA is slowly moving up (currently at $89.80). Volume remains low and ended up closing yesterday in the green, breaking the 4 day selling streak. Parabolic SAR flips bullish at $116.50. RSI remains trending down at 46 as it approaches a formal test of the descending trendline from August 2021 at 44. Stochastic remains bearish at 3.50 and is currently forming a trough in an attempt for a bullish crossover. MACD remains bearish and is currently testing 3.32 support with no signs of trough formation. ADX continues to trend down at 26 as Price faces selling pressure, this is neutral at the moment. If Price is able to establish support at $92.78, then it will likely retest $100-$102.60. However, if Price breaks down here, then it will likely retest the 50 MA (at $89.70) before potentially retesting $84.05 support. *Occasional fundamental analysis on my Twatter*
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by dailytaguy
LUNA's 'Master of Coin'This chart is particularly nice and interesting to trade. Key support area will determine what's next: a rebound and flight higher? or a dip lower? In any case we are just now Long with a stop loss at 93.5 over here. A bit about Do Kwon, the 'Master of Coin' at LUNA: Do Kwon on the 2019 30 Forbes Under 30 - Asia - Finance & Venture Capital - Kwon cofounded Terra to use blockchain technology to develop a more efficient payment system. Kwon cofounded Terra to use blockchain technology to develop a more efficient payment system. Its eponymous price-stable cryptocurrency, or stablecoin, attracted 40 million users to work with the company at launch in January 2018. With the aim of building a blockchain-based payment system, Terra has raised $32 million from crypto-giants such as Binance, Arrington XRP and Polychain Capital, as well as assembling an alliance of commerce partners including Korean ticketing giant Ticketmonster and travel service Yanolja: www.forbes.com China Big- China strong.. Chinese people have been scared away from BTC but this smells like Chinese state doing Business... (maybe I am right, maybe I am not, it doesn't really matter). 145 Remains our Target for Luna: Luna Strong! The FXPROFESSOR
Long
by FX_Professor
1
LUNAUSDT: Huge upside vs modest riskI've been thinking about it and the setup here is probably the best trade to take in crypto markets going into the end of the long term trend signals I had forecasted in $BTCUSD and $ETHUSD as far back as July 2020. Weekly and daily charts, and also ratios vs $BTC and $ETH show $LUNA can perform incredibly going forward. We all are aware of Do Kwon's stunt, to accumulate a massive $Bitcoin stash to back his $UST stablecoin, and thus reinforce the self reinforced trend present in $LUNA from the start. The last big self reinforced trend we observed in crypto was $Solana and also $Bitcoin and the $GBTC arb play that was absorbing a lot of supply and fueling speculation until the Canadian ETF launched. These trends form tremendous bubbles that George Soros describes as the ideal opportunity to build wealth when identified. The key will be identifying what breaks the self reinforced mechanism, and reverses the trend bursting the bubble that is being inflated here. The mechanism in question makes each transaction made using Terra’s stablecoin incur a fee which is goes to reward holders of $Luna, the ecosystem's 2nd native token. The Treasury and miners hold these tokens, so higher transaction volumes create more miner demand (which should increase the cost of attacking the network in theory) while giving the Treasury more funds to protect the stablecoin and fund discounts for Terra users who make purchases with the stablecoin (similar to cashbacks). As such, transaction growth will impact $LUNAUSD's price via this mechanism...Can be a double edged blade, and will be interesting to see how this bubble unwinds. For now, it's a good thing to hold considering downside risk and timing of the T@M signals present in the weekly chart. Cheers, Ivan Labrie.
Long
by IvanLabrie
1