LUNA saw a staggering 99.96% up-channel rally (from 14 December low) until it touched its ATH. After retesting the $100-mark four times, it poked its lifetime milestone on 27 December. Then, after a 22.07% retracement, the alt reclaimed the 23.6% lost Fibonacci support.
Meanwhile, LUNA formed a rising wedge (green) on its 4-hour chart. Also, the bulls flipped the 20-SMA (cyan) resistance to immediate support. LUNA bulls now endeavored to test the upper trendline of the wedge. On the flipside, Any break-down would find testing support at the 23.6% Fibonacci level.
At press time, LUNA traded 10.9% below its ATH at $92.11. The RSI wavered around the 58-mark after constantly marking higher troughs and peaks. However, the Volume Oscillator marked lower highs during the recent rise, indicating a weak bullish move.
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