LUNA reclaims $90 with a 14% price surge: What’s next?

LUNA price analysis for April 19, 2022, ends on a bullish note for the token with high chances of breaking into the $100 price region. The token has been bullish in the last 24 hours with a 14% price surge and it seems that this might continue in the coming days with many investors backing the Terra platform’s coin. On the other hand, we noted in our LUNA price analysis for April 18, 2022, that the token was about to lose the $80 price level and break out of the list of the token top 10 cryptocurrencies. Thankfully, that didn’t happen!

It is also important to note that data from CoinMarketCap shows that the trading volume for LUNA has surged by 176.84% in the last 24 hours, followed by a 14% surge in the Market Cap. On the other hand, the Volume / Market Cap Ratio for LUNA stands at 0.1027, and the Market Dominance of the token rose to 1.69%.

The daily candle for LUNA opened at a price of $91.09 and reached a daily high of $91.90. Furthermore, the daily low for the token stands at $89.22, while the price of 1 LUNA at the time of writing is $89.59.

LUNA price analysis for April 19 on the daily chart

LUNA price analysis for April 19 will consider the data from the daily chart below which includes a few of the biggest indicators on the daily chart.

Source: TradingView

The RSI indicator reads a value below 49 which confirms that the bears haven’t completely given up while the gradient of the line suggests sluggishness for today.

The MACD indicator shows that the MACD line is below the signal line but the two are moving closer to each other now.

The price action for LUNA has dropped to the lower end of the Bollinger Bands and currently aims to retest the middle zone of the Bands.

Conclusion

LUNA price analysis for April 19, 2022, ends on a bullish note for the token with high chances of retaining $90.