MEXCLUNA Price Prediction: Challenges 0.23% Fibonacci Retracement Level At $87.0; RSI Divergence Indicates $80.0 On The Way
LUNA price edges lower on Thursday with losses. Terra (LUNA) opened higher but failed to sustain the highs. The price continues to consolidate in a tight range of $85.0 and $95.0. Investors are looking for some catalyst to set the next directional basis.
- LUNA price trades lower in a tight range on Thursday.
- More challenge for LUNA below 0.23% Fibonacci retracement level at $0.87.
- RSI bearish divergence echoes for the downside momentum.
LUNA price set to decline
On the daily chart, after surging nearly 140% from the lows of $43.49 the LUNA price took a breather at the record highs of $104.66. The price records the biggest single-day fall on March 11 with a fall of 13% since January 21.
Now, a fall below the 0.23% Fibonacci retracement level will keep buyers on the back foot. Intense selling pressure will drag the price toward the 0.38% Fibonacci retracement at the psychological $80.0 level.
The selling pressure will further intensify if the price slips below the 50-day SMA (Simple Moving Average) at $75.55. In that case, the LUNA price revisits the $0.70 mark.
On the flip side, a spike in buy order will push the price back toward the session’s high at $90.0. Furthermore, a decisive close above the mentioned level will recapture the crucial $100.0 level.
Technical indicators:
RSI: The daily Relative Strength Index gives bearish divergence since February 28 as the price makes higher highs. A downtick in the indicator will bring more downside in the pair.
MACD: The Moving Average Convergence Divergence trades above the mid-line with a bearish crossover.
As of publication time, LUNA/USD is trading at $87.87, down 1.50% for the day. The seventh-largest cryptocurrency by market cap holds the 24-hour trading volume at $2,340,922,165 according to the CoinMarketCap.
- U.S. Revises Trump Tariff Terms as Supreme Court Challenges China trade Deal
- Cathie Wood’s ARK Invest Swaps Robinhood Shares for Pinterest Despite Stock Slump
- Just-In: US Labor Shock Raises Rate Cut Bets, Bitcoin Still Down
- Second-Life GPU Marketplaces Emerge as AI Hardware Shortage Persists
- Bitget Integrates Morph Chain, Unlocking Direct USDT Trading for the Entire Morph Ecosystem
- Crypto Market Dips as U.S. Shutdown Hits Record 36 Days?
- Dogecoin Price Forecast: Is $0.3 Next After Symmetrical Triangle Breakout?
- BNB Price Eyes Rally as Double-Bottom Aligns With Token Burn, Transactions Surge
- Bitcoin Price Could Drop to $92K as Analyst Warns Amid $2B ETF Outflows
- Ethereum Price Eyes Recovery as Network Hits 24,192 TPS Milestone
- FUNToken Gains 2.38% as $5M Giveaway Drives 26% Volume Surge
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
