LUNA nears $100 with a 4% jump in prices

LUNA price analysis for April 20, 2022, comes on a slightly bullish note for the token with high chances of breaking the $100 price region if the bulls continue their dominance. Furthermore, the token has been working its way upwards after falling as low as $80. Since then, investors have been buying the dip and it seems that another all-time high is not far off for the token. We can already see that the Terra platform’s token is 21.13% low than its all-time high noted in early April. LUNA price analysis for April 19, 2022, noted that the token jumped 14%. 

It is also important to note that data from CoinMarketCap shows that the trading volume for LUNA has dropped by 29.83% in the last 24 hours, followed by a 4% surge in the Market Cap. On the other hand, the Volume / Market Cap Ratio for LUNA stands at 0.06841, and the Market Dominance of the token rose to 1.73%.

The daily candle for LUNA opened at a price of $95.46 and reached a daily high of $95.84. Furthermore, the daily low for the token stands at $93.32, while the price of 1 LUNA at the time of writing is $94.17.

LUNA price analysis for April 20 on the daily chart

LUNA price analysis for April 20 will consider the data from the daily chart below which includes a few of the biggest indicators on the daily chart.

Source: TradingView

The MACD indicator shows that the MACD line is below the signal line but is very close now and we can expect a bullish divergence as well. 

The price action for LUNA had dropped to the lower end of the Bollinger Bands but now aims to enter the bullish region as seen in the chart. 

The RSI indicator reads a value above 51 which confirms that the bulls are now in charge of the price action. 

Conclusion

LUNA price analysis for April 20, 2022, ends on a bullish note for the token with high chances of breaking above $100.