LUNA price action consolidates at $94: $100 next?

LUNA price analysis for April 21, 2022, comes on a sluggish note for the token which has seen a price surge of over 0.47% in the last 24 hours. The token has been holding above $94 and aims to turn this region into major support for the price action before making a move towards the $100 major resistance. On the other hand, the bulls in the market are attempting to push the Terra platform’s token in the bullish direction, as noted in our LUNA price analysis for April 20, 2022, when the token jumped straight from $80 to $94.

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 $94.76 and reached a daily high of $95.5. 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 21 on the daily chart

LUNA price analysis for April 21 will consider the data from the daily chart below which includes 3 of the biggest indicators in the TA space.

Source: TradingView

The RSI indicator reads a value below above 51 which confirms that bulls might continue to push the price action higher. 

The MACD indicator shows that the MACD line is touching the signal line which means that a bullish divergence is also possible for LUNA.

The price action for the token aims to break into the bullish zone of the Bollinger Bands in the near future which will lead to higher prices.

Conclusion

LUNA price analysis for April 21, 2022, ends on a bullish note with increased chances of retaining $94 and breaking $100.