LUNA price analysis for Feb 18, 2022, brings a bearish analysis for investors as the token now holds prices below the important price level of $50. Moreover, as seen in our Terra price analysis for Feb 17, 2022, despite the bearish trajectory being followed by the token, there is still hope if it holds above $50 and aims for $60.
The data from CoinMarketCap shows that the trading volume of the token surged 36.21% in the last 24 hours, followed by a 9.28% surge in the market cap. Moreover, the Market Dominance of the token stands at 1.08%, while the Volume / Market Cap Ratio stands at a value of 0.06381.
The daily candle for Terra opened at a price of $50.29 and reached a daily high of $51.32. Moreover, the daily low for the token stands at a price of $50.10. Furthermore, the price of 1 LUNA at the time of writing stands at $50.97, which is around 50.68% low from its all-time high witnessed on Dec 27, 2021.
LUNA price analysis for Feb 18, 2022 on the daily chart
In the chart below, we have used 3 major indicators to predict the future price trajectory that Terra might follow.
The RSI indicator continues in the bearish zone and reads 41.78, which means that the bears are in control. Moreover, the gradient of the line is negative overall, followed by a short positive spike today.
The MACD indicator shows that the MACD line (Blue) is very close to the signal line (Orange), which means that if LUNA falls below $50, a bearish divergence will be witnessed.
The price action has dropped to the lower portion of the Bollinger Bands, and there is a possibility that the token might break out from the lower end of the Bands in the near future.
Conclusion
LUNA price analysis on the daily chart can be concluded on a bearish note for the day. Furthermore, it is to be noted that if $50 doesn’t hold as support, investors might witness another price dump for the token.
