Is LUNA dead? Priced at $0.00004

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LUNA price analysis for May 13, 2022, comes on a bearish note for the token and it seems that the chances of recovery for the token are next to nil. As per the official Twitter handle of the platform, the blockchain has been halted to prevent further transactions and the volatility of the token continues to increase. Once ranked among the top 10 cryptos in the market, it is now ranked 230. As noted in our LUNA price analysis for May 12, 2022, the token tried to retain prices above $1 but failed to do so, and in the last 24 hours, the token crashed by more than 99%.

It is also important to note that data from CoinMarketCap shows that the trading volume for LUNA has decreased by 2.90% in the last 24 hours, followed by a 68.09% drop in the Market Cap. On the other hand, the Volume / Market Cap Ratio for LUNA stands at 36.4and the Market Dominance of the coin has become negligible.

The daily candle for LUNA opened at a price of $0.00018 and reached a daily high of $0.003. Furthermore, the daily low for the coin stands at $0.0000006, while the price of 1 LUNA at the time of writing is $0.000042230.

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LUNA price analysis for May 13 on the daily chart

LUNA price analysis for May 13, 2022, will consider the data from the daily chart below and dive deeper into the readings from 3 major indicators in the crypto space.

Source: TradingView

The MACD indicator shows that the MACD line remains below the signal line and the MACD histogram confirms that selling pressure is very high.

The RSI indicator reads a value below 15 confirming that LUNA is an oversold and highly volatile asset.

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The price action for LUNA continues to break out from the lower end of the Bollinger Bands, and prices fall beyond recovery.

Conclusion

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