Following the previous idea on Lunyr, price has reached the projected resistance and broke above it suggesting the uptrend continuation. Price has reached $40 high and corrected down sharply, while currently trading at $18.
But overall trend remains bullish as price rejected the uptrend trendline, 50 Moving Average and managed to close above the previous resistance at $13 with confidence. The next resistance is located at $43 area, that is 38.2% Fibonacci retracement applied through the previous all-time high.
It seems that LUN/USD is getting some more upside momentum and growth could take a parabolic shape. At the same time consolidation could take place and price might return back to $13 support area.
But overall trend remains bullish as price rejected the uptrend trendline, 50 Moving Average and managed to close above the previous resistance at $13 with confidence. The next resistance is located at $43 area, that is 38.2% Fibonacci retracement applied through the previous all-time high.
It seems that LUN/USD is getting some more upside momentum and growth could take a parabolic shape. At the same time consolidation could take place and price might return back to $13 support area.
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