LUNA Technical Analysis: Cracking Under $100, Bears Eye $75

LUNA coin price fails to rise above the $120 mark and falls under the psychological barrier at $100. Will the downtrend reach $75? Key technical points: The Weekly-RSI chart displays a bearish divergence In addition, the market price dips below the 50-day EMA. Finally, the 24-hour trading volume of Terra is $3.29 Billion, marking a 32.87% fall. Past Performance of LUNA LUNA coin price showcased an uptrend after retesting the $75 mark on 7th March, resulting in the $100 breakout and reaching the $120. The uptrend generates a support trendline moving along with the 20-day EMA. However, the recent increase in selling activity breaks below the trendline and the psychological mark accounting for a downfall of 18% within a week. Source-Tradingview LUNA Technical Analysis LUNA coin price action reflects a bearish engulfing candlestick breaking below the $100 and support trendline indicating a potential downfall to $75. However, closing below $90 will intensify selling pressure and accelerate the decline. The recent price fall sliced through the 20-day EMA dynamic support and tagged the 50-day EMA. The coin chart displays a bullish alignment among the crucial EMAs(20, 50, 100, and 200), which could assist buyers in continuing the bullish rally. RSI Indicator: The daily-RSI slope projected a sharp drop to the bearish territory following an evident bearish divergence. The indicator value lingering below the neutral line(50) highlights a...