LUNA holds prices above $88 but volume declines

LUNA price analysis for April 14, 2022, comes on a slightly bullish note for the token which has seen about a 3.4% surge in prices in the last 24 hours. Furthermore, the token has been one of the most bullish investments but right now, it is nearly 26.09% low from its all-time high which was seen on April 5. Since then, the market turned bearish and we have seen many tokens decline in prices. As per our LUNA price analysis for April 13, 2022, the token has faced strong resistance at the $90 price level for now. 

It is also important to note that data from CoinMarketCap shows that the trading volume for LUNA has dropped by 15.68% in the last 24 hours, followed by a 3.06% surge in the Market Cap. On the other hand, the Volume / Market Cap Ratio for LUNA stands at 0.06175, and the Market Dominance of the token rose to 1.62%.

The daily candle for LUNA opened at a price of $87.91 and reached a daily high of $89.84. Furthermore, the daily low for the token stands at $87.49, while the price of 1 LUNA at the time of writing is $88.17.

LUNA price analysis for April 14 on the daily chart

LUNA price analysis for April 14 will paint a picture of future price levels using the major indicators placed on the daily chart below.

Source: TradingView

The RSI indicator reads a value below 44 which confirms that the bulls are fighting back while the gradient of the line suggests that higher prices will follow.

The MACD indicator shows that the MACD line and the signal line are moving apart while the signal line is dominating.

The price action for LUNA has successfully rebounded from the lower end of the Bollinger Bands and now aims to retest the middle zone of the Bands. 

Conclusion

LUNA price analysis for April 14, 2022, ends on a slightly bullish note for the token as chances of losing the $88 price region seem considerable.