LUNA loses $90 price level: What to expect now?

LUNA price analysis for April 28, 2022, comes on a slightly bearish note for the token with high chances of breaking into the $80 price level soon. The token has been trying to hold prices above the $90 price region but has failed to do so in the last 24 hours following a drop in trading volume. As noted in our LUNA price analysis for April 27, 2022, the token has major resistance at the $100 price level which the token has failed to break through on a number of occasions.

It is also important to note that data from CoinMarketCap shows that the trading volume for LUNA has dropped by 35.56% in the last 24 hours, followed by a 2.26% surge in the Market Cap. On the other hand, the Volume / Market Cap Ratio for LUNA stands at 2.26
And the Market Dominance of the token rose to 1.73%.

The daily candle for LUNA opened at a price of $89 and reached a daily high of $90.52. Furthermore, the daily low for the token stands at $88.83, while the price of 1 LUNA at the time of writing is $88.98.

LUNA price analysis for April 28 on the daily chart

LUNA price analysis for April 28, 2022, will consider the data from the daily chart below which consists of 3 of the major indicators in the TA space. 

Source: TradingView

The RSI indicator reads a value below 49 which confirms the LUNA bulls are giving it their all to retain $90 while the gradient of the line indicates sluggish movement.

The MACD indicator shows that the MACD line and the signal line are very close to each other while the former is currently dominating.

The price action for the token is retesting the middle zone of the Bollinger Bands confirming that lower prices might follow in the coming days.

Conclusion

LUNA price analysis for April 28, 2022, ends on a bearish note for the token as chances of losing $90 remain high.