The LUNA cryptocurrency has risen from the 20-day EMA crossover level of $86 on March 18, indicating more buying at a lower price.
The crossovers of the higher price action averages and the relative strength index (RSI), which is in positive territory, indicate that the doors are open for a price rally.
And in case the purchases cause the price of the LUNA to rise above $96.That could open the door for a significant rally, reaching an all-time high of $105.
And if the price manages to break above this level, that will be the first sign of a resumption of the uptrend, and the coin can go up after that to $115 and then to $125.
Conversely, if the price falls from $96, it may fall back towards the 20-day EMA crossover level, and a drop below this level will indicate weak bullish momentum, and the decline could extend into the strong support. It is between $75 and $70.
The LUNA coin was consolidating strongly in the $85-$96 range, and although the selling pushed the price below $85, it was unable to hold the lower levels, indicating a lot of buying on the dips.
The price action averages are also crossing each other, indicating a range bound move in the near term.
If the price rises above $96, this will indicate that the doors are open for a rally that could reach $105.
Conversely, if the price falls below $96, then it can fall to crossovers of price action averages and then to $85.