Will Bearish Momentum Continue? TAMA Presale Sells Out

Low bearish momentum in LUNA market

LUNAUSD Price Analysis – September 21

LUNA may continue the bearish movement provided the support level at $0.00023 does not hold and it may decrease to $0.00013 and $0.00005 price level. In case the bulls oppose the bears by defend $0.00023 level, the price may decrease to the support level of $0.00023, $0.00013 and $0.00005.

LUNA/USD Market

Key levels:

Resistance levels: $0.00033, $0.00044, $0.00049

Support levels: $0.00023, $0.00013, $0.00005

LUNAUSD Long-term Trend: Bearish

LUNAUSD is gathering momentum to further downtrend; in other words Terra is bearish in the daily chart. The coin started downward movement towards the support level of $0.00023 ever since it bounced off from the resistance level of $0.00049. It pulled back when it reached the just mentioned level. The sellers intensify their pressure and broke down $0.00044 and $0.00033 levels. The price decrease to test the support level of $0.00023. At the moment, the price is consolidating to retest or break down the support level of $0.00023.

The fast Moving Average (9 periods EMA) is crossing 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 $0.00023 does not hold and it may decrease to $0.00013 and $0.00005 price level. In case the bulls oppose the bears by defend $0.00023 level, the price may decrease to the support level of $0.00023, $0.00013 and $0.00005.

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LUNAUSD medium-term Trend: Ranging, TAMA Presale Sells Out

LUNAUSD is ranging in the 4-hour chart. The coin is consolidating within $0.00033 and $0.00023 levels since two weeks. Terra price was triggered by the bears’ pressure and broke down the $0.00044 level. It reaches the support level of $0.00023 on September 15 and pulled back to retest the $0.00033 level.

At the moment it is trying to break down $0.00023 level so as to expose the price to $0.00013 level. Price is yet to cross 9 periods EMA and the 21 periods EMA and the coin is trading around the two EMAs which indicates that ranging movement is ongoing. The relative strength index is at 47 levels displaying bullish signal.

Tamadoge Head of Growth Carl Dawkins spoke at a Blockchain and NFT conference as part of London Metaverse Week on Saturday, with several other TAMA holders in attendance. New crypto token presales and ICOs can often outperform bearish market conditions even if their launch day is a red day – investor sentiment, hype and optimism is highest in the early stages of a new crypto project.

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