LUNA rebounds from $110 price region as bulls take charge

LUNA price analysis for April 5, 2022, comes on a slightly bearish note for today as chances of the token losing the $110 price level in the near future seem considerable. However, in the last 24 hours, it is important to note that the Terra platform’s token rebounded from the $110 price region which confirmed that it was a major region of support. As noted in our LUNA price analysis for April 5, 2022, the token returned to $100 but turned bullish to make a new ATH.

It is also important to note that data from CoinMarketCap shows that the trading volume for LUNA has surged by 18.25% in the last 24 hours, followed by a 0.78% surge in the Market Cap. On the other hand, the Volume / Market Cap Ratio for LUNA stands at 0.06378, and the Market Dominance of the token surged to 1.89%.

The daily candle for LUNA opened at a price of $116.43 and reached a daily high of $118.56. Furthermore, the daily low for the token stands at $115.01, while the price of 1 LUNA at the time of writing is $116.05.

LUNA price analysis for April 5 on the daily chart

LUNA price analysis for April 5 will take into account the data from the chart below and help us track the future price levels.

Source: TradingView

The RSI indicator reads a value above the 67 price region which means that the token is bullish for now. The gradient of the line suggests that price action might remain sluggish for now.

The MACD indicator shows that the MACD line and the signal line are moving apart as the MACD histogram is also bullish with green bars.

The price action for LUNA is making higher highs and we can see that the token aims to break out of the upper end of the Bollinger Bands.

Conclusion

LUNA price analysis for April 5, 2022, confirms that the token will remain bullish if the $110 price support holds.