LUNA is pumps around 50% in 24 hours: Reclaims $2B market cap

LUNA price analysis comes on a bearish note for the token which has seen a price surge of around 50% in the last 24 hours. It seems that we might witness a further bullish move for the token if the bears take control of the market. On the other hand, the LUNA price analysis for May 14, 2022, noted that there is a major chance that we might see the price crash in the near future. However, the creator of the token has a recovery plan which might save investors from the wrath of the bears.

It is also important to note that data from CoinMarketCap shows that the trading volume for LUNA has increased by 212.37% in the last 24 hours, followed by a 46.77% surge in the Market Cap. On the other hand, the Volume / Market Cap Ratio for LUNA stands at 3.22 and the Market Dominance of the coin has become negligible.

The daily candle for LUNA opened at a price of $0.000376 and reached a daily high of $0.000387. Furthermore, the daily low for the coin stands at $0.00030, while the price of 1 LUNA at the time of writing is $0.0003084.

LUNA price analysis for May 15 on the daily chart

LUNA price analysis for May 15, 2022, will consider the data from the daily chart below and dive deeper into the readings from 3 major indicators in the crypto space.

Source: TradingView

The MACD indicator shows that the MACD line remains below the signal line and the MACD histogram confirms that selling pressure is very high.

The RSI indicator reads a value below 15 confirming that LUNA is an oversold and highly volatile asset. It is advised not to indulge in trading the token. 

The price action for LUNA rests in the lower end of the Bollinger Bands which means that lower prices seem possible.

Conclusion

LUNA price analysis for May 15, 2022, ends on a bullish note for the coin and it seems that Do Kwon’s recovery plan has breathed life into the token.