$LUNC 🚨 LUNC Technical Analysis - Bearish Breakdown Incoming? 🚨
🔎 Current Market Analysis (March 1, 2025)
📊 Timeframes Analyzed: 1D & 1H Charts
🔥 Chart Pattern Formation & Market Structure
📉 1D Chart (Daily Timeframe)
Trend Direction: Bearish
Pattern Formed: Descending Channel & Lower Highs
Key Support Level: 0.00006500 - 0.00006400
Key Resistance Level: 0.00006888 - 0.00007146
EMA Status: The price is below the 20, 50, 100, and 200 EMAs, reinforcing the bearish sentiment.
📉 1H Chart (Intraday Timeframe)
Pattern: Bearish Flag Breakdown
Fibonacci Levels: Price rejected 0.618 Fib resistance (0.00006622) and is testing lower Fib retracement levels (0.382 at 0.00006485).
Volume: High sell volume confirms that sellers are in control.
Directional Movement Index (DMI): The -DI (Red) is dominant, meaning sellers have the upper hand.
RSI: 36.97 (Bearish), suggesting there is still room for downside before entering the oversold zone.
🛑 Trade Strategy - Bearish Bias
⏳ Trade Duration: Short-Term (1-3 Days)
📉 Short (Sell) Setup:
Entry Zone: 0.00006550 - 0.00006600
Target 1: 0.00006400 (First support zone)
Target 2: 0.00006250 (Stronger support)
Stop Loss: Above 0.00006850 (Recent resistance)
Risk/Reward Ratio: 1:2 or 1:3 (High Probability Setup)
❗ Why this setup?
✔️ Bearish chart pattern confirmation (Descending trend)
✔️ Failed breakout at key resistance levels
✔️ Volume and indicators support downside movement
⚠️ Risk Disclaimer
📌 This analysis is for educational purposes only and not financial advice. Always use stop-loss, manage risk, and do your own research (DYOR) before trading.
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