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Monday, November 28, 2022
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    HomeAltcoinTerra Price Prediction: LUNA Price Consolidates At $0.23% Fibonacci Retracement Near $0.90;...

    Terra Price Prediction: LUNA Price Consolidates At $0.23% Fibonacci Retracement Near $0.90; RSI Hints At A Possible Correction

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    LUNA price stays muted in immediately’s session. The value hovers in a really tight vary as buyers lack conviction for any directional bias. Nonetheless, some revenue reserving is predicted in LUNA from the upper ranges.

    • LUNA worth trades in a really tight vary with no significant motion.
    • A decisive shut under $90.0 can see an prolonged sell-off within the LUNA worth.
    • The momentum oscillators skewed in favor of bearish sentiment.

    LUNA worth trades sideways

    Supply: Buying and selling View

    On the day by day chart, the LUNA worth continues to commerce in a really tight vary for the previous 5 periods. The value jumped greater than 100% from the lows of $43.48 to the report highs of $104.57. The following worth motion will rely on if the vital $90.0 is sustainable by the bulls.

    At the moment, the value challenges the 0.23% Fibonacci retracement stage at $0.91. A decisive break under the very important assist stage will speed up the promoting towards the vital 50-day EMA (Exponential Transferring Common) positioned at $0.80.

    This could additionally mark the breach of one other essential $0.38% Fibonacci retracement stage.

    Quite the opposite, if the value is ready to maintain the $0.90 stage then there’s a risk of the continuation of the upside momentum.

    The primary upside goal might be discovered on the psychological $100.0 stage. A resurgence in shopping for stress will push the value towards the recent report excessive stage round $110.0.

    As of press time, LUNA/USD is buying and selling at $93.36, down 0.38% for the day. The eighth-largest cryptocurrency by the market cap holds the 24-hour buying and selling quantity of $1,892,647,405 based on the CoinMarketCap.

    Technical Indicators:

    RSI: The day by day Relative Power Index oscillated under the typical line. The present studying is at 56. A downtick within the indicator will strengthen the bearish outlook.

    MACD: The Transferring Common Convergence Divergence traded above the mid-line however with a receding bullish momentum.

    Buying and selling quantity: The On Steadiness Quantity (OBV) consolidated close to the overbought zone however nonetheless indicated the market is a bit off from over-heating.

     

     

    Disclaimer

    The offered content material could embrace the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability in your private monetary loss.

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