technical analysis and trade signal for $LUNA /USDT, incorporating three target levels and the momentum:
Technical Analysis for LUNA/USDT
Current Price:
$0.7134 (24h High)
$0.5857 (24h Low)
Trend Analysis:
Short-Term (15m, 1h): The recent price movement indicates a bullish trend, as we saw a price increase of +19.82% within 24 hours.
Medium-Term (4h, 1D): While there's a pullback on the 1D timeframe (-2.26%), the momentum remains positive overall due to the recent rise.
Support and Resistance Levels:
Support Level: $0.5857 (24h Low)
Resistance Levels:
$0.7134 (24h High)
Next key resistance: Around $0.75
Indicators:
RSI: RSI currently above 50, indicating bullish momentum.
MACD: The MACD line is above the signal line, suggesting upward momentum.
Volume: Higher volume observed in the past 24 hours, which supports the strength of the bullish trend.
Trade Signals
Entry Point:
Buy if the price holds above $0.60, confirming a strong bullish trend.
Target Levels:
1. Target 1: $0.73 – Reachable within the next 4-6 hours as price retests the previous resistance.
2. Target 2: $0.75 – This is a key resistance zone, potential breakout level.
3. Target 3: $0.80 – Next major psychological level where the price may face resistance.
Stop-Loss:
Set a stop-loss at $0.58, just below the 24h low, to minimize risk in case of a downward move.
Momentum:
Bullish Momentum: The momentum is currently strong, with the price seeing a +25.58% rise in the last 24 hours. Watch for a potential pullback to the $0.60 support level before further gains.
Watch for Consolidation: A consolidation near $0.70 can be a sign of a continuation pattern, leading to a breakout.