LUNA on the verge of breaking above $100: New ATH soon?

LUNA price analysis for March 30, 2022, confirms that the token is following a bullish trajectory and we might see Terra make another all-time high soon. The current all-time high rests at $109 which was made after the token broke the previous all-time high of $106 which was noted in our LUNA price analysis for March 29, 2022. It is also important to note that we can see higher prices if bulls remain in charge. 

It is also important to note that data from CoinMarketCap shows that the trading volume for LUNA has dropped by 10.78% in the last 24 hours, followed by a 2.88% surge in the Market Cap. On the other hand, the Volume / Market Cap Ratio for LUNA stands at 0.08932, and the Market Dominance of the token surged to 1.76%.

The daily candle for LUNA opened at a price of $109.03 and reached a daily high of $109.11. Furthermore, the daily low for the token stands at $104.68, while the price of 1 LUNA at the time of writing is $106.24.

LUNA price analysis for March 30 on the daily chart

LUNA price analysis for March 30 will take into account the data from multiple indicators placed on the daily chart in the image below.

Source: TradingView

The RSI indicator reads a value of 64.9 which means that the buying pressure is quite high and soon, we might witness LUNA enter the overbought region. 

The MACD indicator shows that the MACD line has broken above the signal line which confirms a bullish divergence for the token. The MACD histogram has also turned bullish.

The price action has broken out of the upper end of the Bollinger Bands for LUNA and as a result, we can confirm that the buying pressure is very high for the token.

Conclusion

LUNA price analysis for March 30, 2022, concludes on a bullish note for the token as chances of new ATH are very high.