LUNA fails to turn $95 into support, investors advised to wait and HODL

LUNA price analysis for March 15, 2022, confirms that the token is still one of the best performing altcoins in the current market scenario. The token ended last month at a gain of 75% and it seems that the bullishness of the cryptocurrency might continue in 2022. It is important to note that as per our LUNA price analysis for March 15, 2022, the nearest support of the token is $85 while $95 is major resistance. 

It is also important to note that data from CoinMarketCap shows that the trading volume for LUNA has surged by 14.81% in the last 24 hours, followed by a 0.56% drop in Market Cap. On the other hand, the Volume / Market Cap Ratio for LUNA stands at 0.09978, and the Market Dominance of the token rests at 1.98%.

The daily candle for LUNA opened at a price of $87.37 and reached a daily high of $91.64. Furthermore, the daily low for the token stands at $86.63, while the price of 1 LUNA at the time of writing is $90.45.

LUNA price analysis for March 15 on the daily chart

LUNA price analysis for March 15 will be implemented using the 3 major indicators in the crypto space on the daily chart as seen in the chart below.

Source: TradingView

The MACD indicator shows that the MACD line and signal are at war with each other and now a clear winner can be seen indicating a sluggish nature of price action. 

The RSI line reads a value of 57.82 which means that bulls are still in control of the price action. However, the gradient of the line is negative for today meaning lower prices will follow. 

The price action is situated in the upper end of the Bollinger Bands which means that LUNA is still bullish overall. 

Conclusion

LUNA price analysis for March 15, 2022, ends on a sluggish note for the token as $95 remains a major threat to the price action.