LUNA just 14% off from all-time high: New ATH in 2022?

LUNA price analysis for March 1 can be concluded on a bullish note, and it is clear that it will be making a new all-time high in coming days.
LUNA price analysis for March 1 can be concluded on a bullish note, and it is clear that it will be making a new all-time high in coming days.

LUNA price analysis for March 1, 2022, confirms that the token has remained one of the most bullish tokens in the crypto sphere. In the last seven days, the token has surged by more than 80%, which confirms the huge demand for the token among investors. As witnessed in our Terra price analysis for February 28, the token broke above the important resistance of $60. 

The data from CoinMarketCap shows that the trading volume of Terra surged 60.91%, while the market cap of the token surged 19.70% in the last 24 hours. Moreover, the Volume / Market Cap Ratio has a value of 0.1502, while the Market Dominance of the token rests at 1.74%. Furthermore, the LUNA token is ranked 7th in the crypto space. 

The daily candle for LUNA opened at a price of $91.35 and reached a daily high of $92.22. It seems that the resistance of the token now exists at the $90 price region. Furthermore, the daily low for today stands at $87.05, while the price of 1 LUNA at the time of writing is $88.97. 

LUNA price analysis for March 1 on the daily chart

LUNA price analysis for March 1 can be confirmed on a bullish note, but we can expect higher prices in the near future as the token is just 14% off from the all-time high.

LUNA price analysis
Source: TradingView

The MACD indicator shows that the MACD line continues to progress above the signal line, which means that the bulls are in charge. 

The RSI indicator for LUNA shows a value of 71.31, and the gradient of the line is negative for today, which means that the prices might fall slightly today. 

The price action has broken out from the upper end of the Bollinger Bands, which means that the buying pressure is defeating the selling pressure. 

Conclusion

LUNA price analysis for March 1 can be concluded on a bullish note, and it is clear that the token will be making a new all-time high in the coming days.

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