I'm still watching $LUNA around the 1.25 level; it's acted as pretty significant support/resistance multiple times now. If we get a clear break and hold below that, especially on a daily close, I'd have to reconsider any bullish bias, as it would suggest a new downside leg could be forming.
Yeah, that 1.25 level is definitely key. I'm with you on watching for a daily close below it – that would certainly change the outlook for LUNA in the short term.
While 1.25 has been a notable level, the overall trend for LUNA doesn't really suggest a strong bullish case even if it holds. A break below that, on any timeframe, just further confirms what many have been observing.
That 1.25 level has been quite the battleground, hasn't it? I'm curious what kind of volume you'd be looking for on a break below to confirm that downside move.
Interesting point on the 1.25 level. I'm not sure how much weight I'd put on support/resistance for a token with LUNA's history, given the volatility, but a daily close below that would definitely be a notable technical event.