Sellers dominate LUNA market
LUNAUSD Price Analysis – 17 November
The price may continue the bearish movement provided the support level at $0.00013 does not hold and it may decrease to $0.000057 and $0.000032 price levels. In case the bulls oppose the bears by defending the $0.00013 level, LUNA may increase to the resistance level of $0.00023, $0.00033, and $0.00044.
Resistance levels: $0.00023, $0.00033, $0.00044
Support levels: $0.00013, $0.000057, $0.000032
LUNAUSD Long-term Trend: Bearish
LUNAUSD is on the bearish movement in a daily time frame. The fast price decrease in the LUNA market is not a surprising phenomenon. It is a season of the deep market in the crypto world. The price of LUNA was $0.00049 on 08 September. The momentum of the buyers was not enough to hold or increase the price. Sellers seize the opportunity by gaining more pressure and the price was pushed down toward the support level of $0.00023. It pulled back briefly. Further pressure from the sellers sends the price to a low level at $0.00013.
The fast Moving Average (9-periods EMA) has crossed the slow Moving Average (21-periods EMA) and the price is trading below the two EMAs as a sign of bearish movement. The price may continue the bearish movement provided the support level at $0.00013 does not hold and it may decrease to $0.000057 and $0.000032 price levels. In case the bulls oppose the bears by defending $0.00013 level, the price may increase to the resistance level of $0.00023, $0.00033, and $0.00044.
LUNAUSD medium-term Trend: Bearish
LUNAUSD is bearish in the 4-hour chart. The coin was increasing above the $0.00049 level last month. Terra’s price was triggered by the bulls’ pressure and broke up the $0.00044 level. It reaches the resistance level of $0.00049 and is pulled back to retest the low support level at $0.00013.
At the moment it is trying to break down the just-mentioned level. Price has crossed 9-periods EMA and the 21-period EMA downside and the coin is trading below the two EMAs which indicates that bears are already in control of the LUNA market.
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