The price of #TerraLunaClassic is currently close to the upper Bollinger Band, suggesting higher volatility and possibly resistance.
The Bollinger Band which helps to measure the price volatility indicates that $LUNC
is approaching the $0.00009641 price mark, the upper boundary that could serve as a possible short-term top.
However, if LUNC fails to clear this area, it could find stabilizing support at its 20-day SMA near the middle Bollinger Band at $0.00009000.
In the case of a pullback, the lower Bollinger Band of $0.00008360 serves as a stronger support level, as this denotes the lowest region LUNC moved within in recent times.
Relative Strength Index (RSI) Indicates Mild Upward Momentum
LUNC’s Relative Strength Index (#RSI ) is 52.91, which shows that there is moderate bullish momentum without the RSI being overbought.
An RSI above 50 is generally sustained by positive momentum, and an above 70 reading indicates overbought conditions.
RSI remains below the overbought zone suggesting that LUNC could still move higher before the heating reversal signal.
A recent RSI surge from previous lows suggests an increase in momentum and bullishness. If the RSI crosses above 60, it would further fortify the bullish outlook, but traders must keep their eyes on consolidation or a pullback if the price approaches resistance at the upper Bollinger Band.