The past week has been mixed for Terra (LUNA). On February 10, 2021, the opening price of LUNA was $6.43. As of February 16, 2021, LUNA closed at $6.52. The price surged by just 1.40% in the past week. In the last 24 hours, LUNA has been trading between $5.56 and $6.74. https://ift.tt/2ZonOTp How Does LUNA Move with Technicals Currently, LUNA is trading at $5.95. The LUNA price has fallen from the opening price of $6.52. Thus, the price is on a downswing. The RSI indicator is at 50%. Since morning it is frequently touching the 30% mark or falling below it. Thus, selling pressures are high. It is continually facing rejection at the 50% level and struggling to break out of it. Thus, the market momentum is bearish. Similarly, the stochastic oscillator is frequently going below the 20% mark. The crypto is oversold. Every time the stochastic oscillator rises, it faces rejection at 80%. Moreover, frequent bearish crossovers by the actual value-line over the 3-day SMA line imply a price downtrend. The AO indicator has been negative since morning. However, the ‘sell’ signals are getting weaker. The AO indicator is about to go above the zero line and turn positive. Thus, a trend reversal may be on the horizon. Similarly, the MACD and signal lines are negative. But, they are inching closer to the zero line. They will turn positive soon. Plus, the MACD line has crossed above the signal line. Therefore, the price trend may reverse. However, the A/D and OBV lines are moving downward. Thus, distributions have surpassed accumulations. Thus, the price will struggle to move upwards. High selling pressures are further confirmed by the fact that the price line is closer to the lower Bollinger band. Besides, the price is below the 20-day SMA. The ADX line is falling too. Since both the price and the ADX are moving in the same direction, the price downtrend is very strong. Presently, the price is below the Fibonacci pivot point of $6.30. The price has tested the 23.6% FIB retracement level of $5.92 and successfully broken out of it. However, if the price starts declining again and falls below the subsequent Fibonacci pivot support levels of $5.62 and $5.20 respectively, then the bear-run will continue tomorrow as well.
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