Why LUNA’s Recent Rally Could be the Start of a Bullish Trend

LUNA’s price still risks correcting, however, with a weakening RSI and decreasing trading volume. A technical setup that preceded an 80% price rally in the Terra (LUNA) market in August 2021 has appeared again.LUNA paints bullish MACD crossoverThe technical setup involves a so-called “signal line crossover” between LUNA’s weekly MACD line — equal to the difference between the token’s 12-week and 26-week moving averages (MA) — and the nine-week MA called the signal line, plotted above the zero line, as shown in the chart below.LUNA/USD weekly MACD illustration. Source: TradingViewTogether,....

The price of LUNA moves on its own as the crypto market trends to the downside. Terra’s native cryptocurrency records a 6.4% profit in the last week, as BTC, ETH, and BNB, move sideways. Related Reading | Mars Protocol To Launch On Terra, But Why MARS Has Seen A Massive Dump At the time of writing, LUNA trades at $89.35 with a 4.8% loss in the last 24 hours. Despite recent losses, the cryptocurrency is quickly moving up the top 10 cryptos by market. Currently, it sits at the 7th position after pushing down Cardano (ADA), Solana (SOL), and Polkadot (DOT). A report from economist Murray....

LUNA, the native token of the Terra 2.0 blockchain, was among the many gainers in the past week positively affected by Bitcoin’s impressive rally toward the $35,000 mark. According to data from CoinMarketCap, LUNA is up by 13.96% in the last seven days, providing some relief for investors who have had to endure the token’s bearish form in the previous weeks leading to this price rise.  As expected, LUNA’s current bullish form has now attracted much attention, with some analysts speculating there could be more gains in the coming weeks.  Related Reading: Terra Validator Opposes USTC....

Cardano price started a fresh rally above the $0.70 zone. ADA is now correcting gains and struggling to start another increase above $0.780. ADA price started a fresh rally above the $0.70 and $0.720 levels. The price is trading above $0.720 and the 100-hourly simple moving average. There is a key bullish trend line forming with support at $0.750 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could start another decline if it trades below the $0.7150 support zone. Cardano Price Climbs Above $0.70 After forming a base above the $0.650 level, Cardano started a....

For longer than other altcoins, the Cardano (ADA) price was stuck in a deep bear trend. However, recent data shows that bullish sentiment is returning. But, the ADA price is facing one last key challenge to start a major rally. A look at the 1-day chart of ADA reveals that the price managed to break the 200-day exponential moving average (EMA) at $0.396 to the upside today. The 200 day EMA is traditionally used to indicate the long-term trend and is considered a bear/bull boundary line. At the time of writing, ADA was trading at $0.408, but is still facing probably its biggest challenge in....