LUNA briefly makes new ATH: Falls back below $100 price level

LUNA price analysis for March 11, 2022, confirms that the token has turned slightly bearish following despite a popular demand of the token. It is important to note that as per our LUNA price analysis for March 10, Terra is more than 20% up in this week’s candle making it one of the most bullish cryptocurrencies in the recent period. The token has broken all the barriers and is just 8.09% shy from the all-time high witnessed a day ago at 104.58 USD.

It is also important to note that data from CoinMarketCap shows that the trading volume for LUNA has declined by 1.89% in the last 24 hours, followed by a decrease of nearly 1.67% in Market Cap. On the other hand, the Volume / Market Cap Ratio for LUNA stands at 0.1672, and the Market Dominance of the token surged to 2.02%.

The daily candle for LUNA opened at a price of $101.19 and reached a daily high of $101.78. Furthermore, the daily low for today stands at $95.39, while the price of 1 LUNA at the time of writing is $95.96.

LUNA price analysis for March 11 on the daily chart

LUNA price analysis for March 11 begins its journey with 3 of the most important indicators in the crypto space.

Source: TradingView

The MACD indicator shows that the MACD line and the signal line are further apart as the former remains above the latter showing the bulls are in charge. 

The RSI indicator shows a value of 63.94 which means that the bulls are still in control. However, the gradient of the line is negative which means that lower prices are possible today.  

The price action for LUNA is situated in the upper end of the Bollinger Bands which means that the buying pressure is still high for LUNA. 

Conclusion

LUNA price analysis for March 11, 2022, confirms that the token is still bullish and if $95 retains as support, we might see another move towards $100.