Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Bears have kept their pressure as all of the top 10 coins are in the red zone.
LUNA/USD
LUNA has followed the fall of Bitcoin (BTC), going down by 4.70% over the last 24 hours.
On the local chart, LUNA has formed the support level at $78.51 and bounced off of it. If bulls can hold it until the end of the day, there is a chance to see a further short-term rise on the weekend.
On the daily time frame, the price is approaching the support at $75.67. The selling trading volume remains high, which means that bears are not ready to give up.
If buyers cannot seize the initiative, there is a probability of seeing a sharp drop below $76 soon.
On the weekly chart, bears remain more powerful than bulls after the price failed to fix above the $90 mark. If buyers cannot hold the zone of $75, the fall may continue to the nearest mark at $61 within the next few weeks.
LUNA is trading at $79.05 at press time.
Source: https://u.today/luna-price-analysis-for-may-6