LUNA finally breaks $60 resistance: Up 20% in 24 hours

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LUNA price analysis for Feb 25, 2022, can be confirmed on a bullish note for the token, which has seen a 20% price surge in the last 24 hours. The token failed in an attempt to break above the important price resistance of $60, as reported in our Terra price analysis for Feb 24, 2022. Now that the token seems to have finally broken above $60, it is very important to turn the region between $60-$65 as a region of support. 

The daily candle for LUNA opened at a price of $65.15 and reached a daily high of $68. It seems that the $68-$70 price level will be a major resistance for the token. Furthermore, the daily low for today stands at $64.13, while the price of 1 LUNA at the time of writing is $66.79. 

The data from CoinMarketCap shows that the trading volume of Terra surged 41.25%, while the market cap rose 19.91% in the last 24 hours. Moreover, the Volume / Market Cap Ratio has a value of 0.2249, while the Market Dominance of the token rests at 1.48%. Furthermore, the Market Rank of LUNA is #9.

LUNA price analysis for Feb 25 on the daily chart

LUNA price analysis for Feb 25 on the daily chart will be implemented using 4 major indicators that are very helpful to determine the future potential of the token.

LUNA price analysis

Source: TradingView

The MACD indicator shows that the MACD line remains above the signal line, which confirms that the bulls are in charge. Moreover, the MACD histogram is also bullish. 

The RSI line shows a value of 63, which shows that the token has turned bullish and continues to rise. 

The price action has broken out from the upper end of the Bollinger Bands, which means that bulls are in charge. 

Conclusion

LUNA price analysis for Feb 25, 2022, can be concluded on a bullish note for the token, and the next goal is to push above $70. Investors should look out for the $60 resistance.

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