Luna possible double top scenario.
Hello All. Looking at LUNAUSD on the daily timeframe, we see that the price has formed a second peak at around $110. While the price can surge towards new all time highs, it is more likely to see a retracement after a 130% run.
Currently LUNAUSD is inside a rising channel with a resistance sitting at around $115 and the support at around $95.
Stochastic RSi shows a reading above 80, meaning it is overbought and needs a pullback.
My optimistic pullback targets will be the 50 day EMA at around $85, and the fibonacci golden pocket $76-$78.
A technical pullback target and to confirm the double top pattern will be at the major support/neckline at $50. Pullback to 200 day EMA is also very likely.
Thanks for reading, and stay tuned. Enjoy.
Currently LUNAUSD is inside a rising channel with a resistance sitting at around $115 and the support at around $95.
Stochastic RSi shows a reading above 80, meaning it is overbought and needs a pullback.
My optimistic pullback targets will be the 50 day EMA at around $85, and the fibonacci golden pocket $76-$78.
A technical pullback target and to confirm the double top pattern will be at the major support/neckline at $50. Pullback to 200 day EMA is also very likely.
Thanks for reading, and stay tuned. Enjoy.
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.