LUNA turns bullish and makes another run towards $95: Breakout confirm?

LUNA price analysis for March 21, 2022, comes riding on a bullish horse for the cryptocurrency as the token has jumped nearly 2% in the last 4 hours. Moreover, the Terra token has once again set its eyes to break the $95 price resistance which is a very important move for the token before it breaks the $100 price level, as noted in our LUNA price analysis for March 18. Furthermore, investors need to look out for this price level before putting their money.

It is also important to note that data from CoinMarketCap shows that the trading volume for LUNA has surged 7.94% in the last 24 hours, followed by a 1.51% increase in the Market Cap. On the other hand, the Volume / Market Cap Ratio for LUNA stands at 0.06603, and the Market Dominance of the token rose to 1.85%.

The daily candle for LUNA opened at a price of $90.63 and reached a daily high of $94.88. Furthermore, the daily low for the token stands at $90.33, while the price of 1 LUNA at the time of writing is $94.24.

LUNA price analysis for March 21 on the daily chart

LUNA price analysis for March 21, 2022, will include 3 of the major indicators on the daily chart that can be seen integrated on the daily chart below.

Source: TradingView

The RSI indicator reads a value of 59.33 which means that buyers are in control. Moreover, the gradient of the line is positive which means investors can expect LUNA to continue its bullish path.

The MACD indicator shows that the MACD line and the signal line are getting closer as the former remains above the latter. Investors can expect a bullish divergence on the daily chart.

The price action for LUNA is situated in the upper end of the Bollinger Bands which means that the buying pressure is quite high and higher prices will be achieved

Conclusion

The LUNA price analysis for March 21, 2022, confirms that it has turned bullish and investors should wait for it to break $95 before investing.