LUNA rebounds from $85 support, back above $90 price level

LUNA price analysis for March 14, 2022, confirms that the Terraform Labs’ token has turned bullish once again. Moreover, the token has bounced from the $85 price support and is once again back above $90. Moreover, the token has confirmed a bullish outbreak once again. It is also important to note that the $95 price level acts as major resistance. As noted in our LUNA price analysis for March 11, the token has made a new all-time high at $104.

It is also important to note that data from CoinMarketCap shows that the trading volume for LUNA has shot up by 26.18% in the last 24 hours, followed by a 3.80% rise in Market Cap. On the other hand, the Volume / Market Cap Ratio for LUNA stands at 0.07962, and the Market Dominance of the token rests at 1.97%.

The daily candle for LUNA opened at a price of $87.37 and reached a daily high of $91.64. Furthermore, the daily low for the token stands at $86.63, while the price of 1 LUNA at the time of writing is $90.45.

LUNA price analysis for March 14 on the daily chart

LUNA price analysis for March 14 confirms that the token has once again turned bullish following a huge surge in buying pressure.

Source: TradingView

The MACD indicator shows that the MACD line is touching the signal line and the chances of a bearish divergence are very high. It is important to note that the MACD histogram has finally turned bullish.

The RSI indicator has a value of 58.71 and the gradient of the RSI line is slightly positive. The bulls are once again back in control but we can expect another bearish drop soon.

The price action is situated in the upper end of the Bollinger Bands and LUNA might soon make another all-time high.

Conclusion

LUNA price analysis for March 14 confirms that the token has turned bullish and indicators show that another all-time high might be coming soon.