LUNA up 22% on weekly candle: $100 price is the nearest resistance

LUNA price analysis for March 10, 2022, opens the daily candle on a bearish note as the token has failed to move into the $100 price region. Moreover, the all-time high of the token at $103.3 is not far and the token might form another all-time high this year. It is also important to note that the Terra price analysis from March 9, 2022, confirmed that the $95 price level is now a minor support region. 

It is also important to note that data from CoinMarketCap shows that the trading volume for LUNA has shot up by 65.66% in the last 24 hours, followed by an increase of nearly 5.93% in Market Cap. On the other hand, the Volume / Market Cap Ratio for LUNA stands at 0.1677, and the Market Dominance of the token surged to 1.95%.

The daily candle for LUNA opened at a price of $99.22 and reached a daily high of $99.69. Furthermore, the daily low for today stands at $96.15, while the price of 1 LUNA at the time of writing is $96.97.

LUNA price analysis for March 10 on the daily chart

LUNA price analysis for March 10 will take into account the 3 biggest indicators in the crypto space on the daily chart.

Source: TradingView

The MACD indicator shows that the MACD line continues above the signal line as the MACD histogram is also bullishly filled with green bars confirming that bulls are in charge. 

The RSI indicator has a value of 65.99 which means that the buying pressure is very high and the chances of LUNA turning bullish are very high. The gradient of the line is slightly negative for today meaning that lower prices will follow. 

The price action for LUNA aims to break out from the upper end of the Bollinger Bands and is currently situated in the bullish region. 

Conclusion

LUNA price analysis for March 10, 2022, confirms that the token has turned bullish but $95 must retain as resistance for a successful breach of $100.