LUNA price takes the crypto market by storm while smashing the record highs above $107.0. The price opened lower but quickly recovered all the way to make fresh yearly highs making bulls cheerful.

  • LUNA price outperforms the crypto space with more than 10% gains.
  • Next, bulls keep their eyes on $110.0 amid strong buying momentum.
  • The strong green candlesticks hint at more buying opportunities for investors.

LUNA price remains unstoppable

Source: Trading view

On the daily chart, the LUNA price smashed all the previous records and hits the season’s new high above $107.0. The price trades in an ascending channel from the lows of $49.0. It is a crucial level as combines multiple technical setups. First, there is a double-bottom formation near the mentioned level. Second, it holds around the crucial 200-EMA (Exponential Moving Average)

LUNA price peaked at fresh yearly highs twice in a single month. Earlier tested $104.73 on March 10.

A daily close above the session’s high level will instill further convictions among investors to push the price into a higher trajectory. Market participants will pull up their sleeves to capture another milestone at $110.0.

On the flip side, a spike in sell order could push downward on account of profit booking as the price surged nearly 150% from the lows of $43.0. On moving downward, the first target could be located at the ascending trend line near $98.0. Further, a break below the psychological $90.0 could trigger a fresh round of selling in the asset.

As of press time, LUNA/USD is trading at $106.32, up 9.21% for the day. The trading volume of the eighth-largest cryptocurrency is holding at $4,146,503,797 with more than 136% gains.

A strong buying momentum with record volumes shows the strength in the price action.

Technical indicators:

RSI: The Daily Relative Strength Index stands strong at 66. The indicator is still far from the overbought zone.

MACD: The Moving Average Convergence Divergence shows bullish momentum while it already trades above the mid-line.



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