This chart of $LUNA /USDT on Binance represents a 1-hour timeframe. The price is currently trading at $0.5023, with a notable increase of +9.12% over 24 hours. Observing the recent movement:

1. Support and Resistance Levels:

Support: Around $0.4544 (24h low).

Resistance: $0.5478 (24h high).

2. Trend Analysis:

The price experienced a sharp upward spike, followed by a retracement. This suggests a volatile market with possible consolidation.

3. Long Entry: Consider entering long if the price holds above $0.5000.

Stop Loss: $0.4900 (to avoid deeper retracements).

Target: $0.5400 (testing the recent resistance).

4. Short Entry: Consider a short position if the price breaks below $0.4900.

Stop Loss: $0.5050.

Target: $0.4600 (testing prior support).

5. RSI and Momentum Check: Analyze momentum indicators to confirm overbought or oversold conditions before making a move. The retracement indicates caution for aggressive entries.

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