LUNA is one of the strongest cryptos in the market since the summer of 2021. Most drops did very little to this token. However, with the last drop, LUNA got very close to the support of the massive wedge that LUNA is trading in.
I'm expecting a bounce from this area, assuming that BTC and stocks won't drop much further. Target would be the top of the pattern, signaling a new all-time high in the coming months.
Be aware that this is an ascending wedge pattern, which is classically a bearish chart pattern. A bearish break out should be considered as long as BTC is in a bearish trend.
Happy trading!
I'm expecting a bounce from this area, assuming that BTC and stocks won't drop much further. Target would be the top of the pattern, signaling a new all-time high in the coming months.
Be aware that this is an ascending wedge pattern, which is classically a bearish chart pattern. A bearish break out should be considered as long as BTC is in a bearish trend.
Happy trading!
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