Technical Analysis of Luna Classic (LUNC) – Daily (1D)
1. Candle Chart Analysis
Candle Shape
Trend Change: It is observed that the price has broken the downward trend line (yellow), which suggests an attempt at a bullish reversal.
Recovery Candles:
There are several consecutive green candles with wide bodies, indicating sustained buying pressure.
The lower shadows on recent candles show rejections of lower prices, a bullish signal.
Key Resistance at 0.00007955:
The price is close to this level, which may act as a psychological barrier before continuing the rise.
If there is a daily close above this point with good volume, the bullish breakout will be confirmed.
2. Technical Indicators Analysis
Bollinger Bands
The price is touching the middle band (0.00007207), with a target at the upper band (0.00008408).
The lower band at 0.00006005 served as support and a bounce point.
If the price surpasses the middle band with volume, it is likely to reach the upper band.
MACD
Positive MACD (0.00000211), with the histogram in green, indicating bullish momentum.
The MACD line crossed above the signal line, which is a buy confirmation.
If the trend is maintained, bullish momentum could extend.
Stochastic RSI (STOCHRSI)
Currently at 100, indicating extreme overbought conditions.
This suggests that the price could make a brief correction before continuing its upward movement.
Volume
Volume has increased in recent days, confirming the strength of the bullish movement.
However, it is important to watch whether volume is maintained or decreases, as a drop in volume would indicate buyer exhaustion.
3. Exhaustive Forecast
Short Term (1-3 days):
Probability of consolidation between 0.00007520 and 0.00007955 before a next strong movement.
If volume decreases, we could see a slight pullback towards 0.00007200.
Medium Term (1-2 weeks):
If the price breaks 0.00007955 with high volume, we could see momentum towards 0.00008408.
If it surpasses 0.00008408, the next target is 0.00009794.
Bearish Risk:
If the price falls below 0.00007200, it could retest support at 0.00006800.
A daily close below 0.00006800 would indicate weakness and could lead to 0.00006005.
4. Trading Strategy
For Spot Trading
1. Entry:
Buy if the price remains above 0.00007200 with good volume.
Entry can also be made on pullbacks towards 0.00007200-0.00007000.
2. Take Profit:
First target: 0.00007955 (key resistance).
Second target: 0.00008408 (upper Bollinger band).
Third target: 0.00009794 (next major resistance).
3. Stop-Loss:
Place a stop-loss at 0.00006950 to minimize risks.
For Futures Trading
1. Long Strategy (Long Buying):
Ideal entry on the breakout of 0.00007955 with volume confirmation.
Take Profit: 0.00008408 and 0.00009794.
Stop-Loss: 0.00007200.
Leverage: Maximum x5 to control risks.
2. Short Strategy (Short Selling):
If the price fails to break 0.00007955 and shows rejection, consider a short with:
Target: 0.00007200 and 0.00006800.
Stop-Loss: 0.00008050 to prevent loss due to breakout.
Final Conclusion
Current trend: Bullish with the possibility of consolidation before continuing.
Key levels:
Support at 0.00007200.
Resistance at 0.00007955 and 0.00008408. Recommended strategy: Buy on pullbacks or wait for breakout confirmation before going long. Caution: Stochastic RSI in overbought may generate a correction before continuing to rise.
In summary, the scenario is bullish, but with the possibility of minor corrections before a new strong movement. The key is to watch for the breakout of 0.00007955 and operate with appropriate risk management.
