LUNA drops below $90 as bulls fail to keep up: Good time to buy?

LUNA price analysis ends on a bearish note with high chances of losing the $80 price region if selling pressure remains the same.
LUNA price analysis ends on a bearish note with high chances of losing the $80 price region if selling pressure remains the same.

LUNA price analysis for April 27, 2022, comes on a bearish note for the token with increased chances of retesting lower $80 price levels in the near future. For now, it can be confirmed that the token has lost the $90 price region, which was major support for the cryptocurrency. As per our LUNA price analysis for April 26, 2022, the major resistance for the token was seen at the price of $100 which it wasn’t able to push through. At the time of writing, the token is nearly 25.99% low from its all-time high.

It is also important to note that data from CoinMarketCap shows that the trading volume for LUNA has surged by 1.02% in the last 24 hours, followed by an 8.22% drop in the Market Cap. On the other hand, the Volume / Market Cap Ratio for LUNA stands at 0.08662
And the Market Dominance of the token dropped to 1.72%.

The daily candle for LUNA opened at a price of $88.43 and reached a daily high of $89.29. Furthermore, the daily low for the token stands at $87.50, while the price of 1 LUNA at the time of writing is $88.32.

LUNA price analysis for April 27 on the daily chart

LUNA price analysis for April 27, 2022, will take into account the data from the daily chart below.

LUNA price analysis
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The RSI indicator reads a value below 47 which confirms that the bears are now gaining control of the price action, and lower prices might be seen.

The MACD indicator shows that the MACD line might fall below the signal line, confirming a bearish divergence for LUNA.

The price action for the token has dropped to the lower end of the Bollinger Bands hinting that a downtrend has begun and we might see lower prices as well. `

Conclusion

LUNA price analysis for April 27, 2022, ends on a bearish note for the token with high chances of losing the $80 price region if selling pressure remains the same.

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