Technical Analysis of Luna Classic (LUNC) – Daily (1D)
1. Candle Chart Analysis
Candle Shapes and Price Action
Consolidation Phase: After a bullish movement, the price is consolidating near 0.00007578, which may indicate a pause before the next move.
Indecision Candles: The last candles show small bodies and upper and lower shadows, reflecting balance between buyers and sellers.
Key Support at 0.00007520: This level has acted as support several times. If maintained, it could drive a new bullish rally. If broken, it could trigger a deeper correction.
Immediate Resistance at 0.00007740: The price needs to overcome this resistance to continue rising.
2. Technical Indicators Analysis
Bollinger Bands
The price is near the middle band (0.00007196), acting as dynamic support.
The upper band at 0.00008374 represents the next target if the bullish movement resumes.
The lower band at 0.00006017 marks the strongest support in case of a correction.
MACD
The histogram remains green, although the bars are shortening, indicating a weakening of the bullish momentum.
The MACD line is still above the signal line, confirming a bullish trend, but it could cross down if the price does not regain momentum.
Stochastic RSI (STOCHRSI)
Currently at 67.38, indicating that the asset is neither overbought nor oversold.
This suggests that there is still room for a bullish movement before entering an overbought zone.
Volume
Volume has significantly decreased compared to previous days.
An increase in volume would be necessary to confirm a bullish breakout.
3. Exhaustive Forecast
Short Term (1-3 days)
Bullish Scenario: If the price maintains support at 0.00007520 and breaks resistance at 0.00007740, it could head towards the upper Bollinger band at 0.00008374.
Bearish Scenario: If the price falls below 0.00007520, the next support is at 0.00007200, and a break of this level could take it to 0.00006017.
Medium Term (1-2 weeks)
Bullish: If the price exceeds 0.00008374, the next target will be 0.00009250, followed by 0.00010755 if the bullish momentum holds.
Bearish: A loss of support at 0.00007200 could indicate a correction towards 0.00006017, and a break of this level would confirm the resumption of the bearish trend.
4. Successful Trading Strategy
For Spot Trading
1. Entry Strategy:
Buy if the price stays above 0.00007520 and shows signs of breaking through 0.00007740.
It can also be accumulated on pullbacks towards 0.00007200.
2. Take Profit:
First target: 0.00008374 (upper Bollinger band).
Second target: 0.00009250 (next major resistance).
Third target: 0.00010755 (key previous high).
3. Stop-Loss:
Place a stop-loss at 0.00007200 to minimize risk in case of a bearish breakout.
For Futures Trading
1. Long Strategy (Long Buying):
Entry on confirmed breakout of 0.00007740 with volume.
Take Profit: 0.00008374 and 0.00009250.
Stop-Loss: 0.00007520 to protect against a false breakout.
Leverage: Maximum x5 due to volatility.
2. Short Strategy (Short Selling):
Entry if the price falls below 0.00007520.
Target: 0.00007200 and 0.00006017.
Stop-Loss: 0.00007700 to limit losses if the price bounces.
Final Conclusion
Current trend: Consolidation with a bullish bias as long as it stays above 0.00007520.
Key Levels:
Support: 0.00007520 and 0.00007200.
Resistance: 0.00007740 and 0.00008374.
Recommended strategy: Buy on pullbacks or wait for the breakout of 0.00007740 before entering long.
Caution: The reduction in volume and the shortening of the MACD histogram suggest that an increase in demand is necessary to push new highs.
Conclusion: The market is in a consolidation phase, but the bias is bullish as long as it stays above 0.00007520. The key is to watch for a breakout above 0.00007740 to confirm the next bullish move.
