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LUNA/USD Daily TA Neutral Bearish

BINANCE:LUNAUSD   None
LUNA/USD Daily neutral with a bearish bias. Recommended ratio: 30% LUNA, 70% cash. Double Bottom watch. Price is currently facing rejection at $84.05 resistance after failing to close above it in yesterday's session. Volume remains low and is on track to spoil a three-consecutive-day streak of buyer dominance if it closes today's session in the red. Parabolic SAR flips bullish at $96.66, this is neutral at the moment. RSI is currently trending down at 42.34, the next support is a retest of the descending trendline form August 2021 at ~38. Stochastic is currently crossing over bullish at 30.65, just above 21.78 support. MACD remains bearish and is currently breaking down below -2.43 minor support at -2.70 with no signs of trough formation. ADX is trending down slightly at 15.86 as Price has encountered a critical resistance, this is neutral at the moment. If Price is able to breakout and close above $84.05 resistance two consecutive sessions, then the next likely target is a retest of $92.78 minor resistance. However, if Price is rejected here, then it will likely retest $78.04 and may potentially go lower depending on overall market conditions. Mental Stop Loss: (two consecutive closes above) $84.05.

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