LUNC/USDT is showing interesting dynamics on the daily chart, which may indicate possible prospects for both traders and long-term investors.
Technical indicators 📊:
Moving averages (MA):
Short-term and medium-term moving averages (7 and 25 SMA) are below the long-term (99 SMA), which indicates a bearish trend. However, it can be noted that the price has started to approach the 7-day SMA, which may signal a possible change in market sentiment.
Ichimoku indicator:
The price is below the Ichimoku cloud, which indicates a bearish mood. However, the Tenkan-Sen and Kijun-Sen lines are starting to converge, which may indicate a possible trend change or consolidation before a new move.
Parabolic SAR (SAR):
The SAR indicator dots are located above the candles, which confirms the downtrend. If the price continues to rise, the SAR may change its position, which will serve as a signal for a reversal.
Patterns and formations:
The "descending triangle" figure can be distinguished on the chart. A breakout of its upper border will be a bullish signal and can lead to growth, while a breakout of the lower border will confirm
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