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Brian Bollinger The LUNC price chart for the daily time frame shows a rising parallel channel pattern. This structure is formed when prices move higher and is contained within two parallel trendlines that are sloping upwards. This pattern can be bullish by coin holders until prices are contained within the channel. The pattern’s support trendline was broken on February 9th by a bearish break in the coin price, which indicates a possible downturn. AdvertisementKey Points: The LUNC price has seen a steady recovery over the past two months thanks to the rising channel pattern.
A Bearish breakdown of the pattern’s trendline could lead to a 25% drop in LUNC prices.
Intraday trading volume for the LUNC coin was $93.6 Million. This indicates a 23% loss.
Source: Tradingview. After a string of highs and lows, the LUNC market price reached a three-month high at $0.00021. This is 65% above the December 2021 bottom support level of $0.000126. This may increase the selling pressure and be considered a sign of trend reversal. Trending StoriesThe LUNC price traded at $0.00016 at press time and attempted to retest breached support as resistance. The daily candle’s higher price rejection indicates that sellers are responding to new resistance. A post-retest fall could send prices to $0.00015, $0.000138, and $0.000126. This would indicate a maximum loss of 25%. However, each of the aforementioned levels is strong support that may try to undermine selling pressure.Technical IndicatorsRelative Strength Index: the daily RSI slope plunged below the midline, indicating a negative shift in market participants’ sentiment.advertisementEMAs: the recently breached 20-and-50-day EMA slope are flipped into viable resistances offering an extra edge to short sellersLUNC Crypto Price Intraday LevelsSpot rate: $0.000167
Trend: Bullish
High Volatility
Resistance level – $0.000184 and $0.00021
Support level: $0.00015 and $0.00013
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The content presented may contain the author’s personal opinion and may not reflect current market conditions. Before investing in cryptocurrency, do your market research. Close Story