LUNA Price Analysis – October 29
The Terra LUNA price may not be stopped as the bulls aim to take the coin to the higher levels.
LUNA/USD Market
Key Levels:
Resistance levels: $50, $52, $54
Support levels: $38, $36, $34
LUNA/USD price is now trading close to $50 as it hovers around the $48 resistance level at the time of writing. The Terra LUNA may continue to move upwards if the price stays above the 9-day and 21-day moving averages. Meanwhile, LUNA/USD may touch the resistance level of $48 if the bulls focus on the upward trend.
LUNA Price Analysis: What to Expect from LUNA/USD
According to the daily chart, the LUNA price may remain at the positive side in as much as the 9-day MA continues to move above the 21-day moving average. Therefore, the technical indicator Relative Strength Index (14) is seen moving towards 60-level but if the signal line begins to move towards the upper boundary of the channel, there is a higher chance that the coin may likely find the potential resistance levels at $50, $52, and $54. In other words, any bearish movement below the lower boundary of the channel may locate the critical supports at $38, $36, and $34 respectively.
LUNA/BTC Market: Consolidating Above the Moving Averages
Against Bitcoin, LUNA price has been moving sideways, the may continue to consolidate above the 9-day and 21-day moving averages. Therefore, the next level of support may surface if the coin move towards the lower boundary of the channel at 6200 SAT and then locate further key support at 6000 SAT and below if the sell-off becomes huge.
Meanwhile, on the upside, the Terra LUNA price could face the resistance at 8000 SAT. Above the resistance lies the major 8600 SAT and above. A couple of days ago, the cryptocurrency has encountered strong support at 6788 SAT as the technical indicator Relative Strength Index (14) moves above 50-level. Perhaps, if the signal crosses below this level, traders are likely to expect a bearish pressure below the lower boundary of the channel.
