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NDby u/nguyen_do·1dAnalysis

$LUNA: Watching the 1.25 area for a retest

Been keeping an eye on $LUNA today. It's holding around 1.27, but the move up from the 1.26 intraday low looks a bit stretched on shorter timeframes. I'm wondering if we might see a retest of that 1.25 support level soon. If it holds there, it could provide a decent setup, but a sustained break below 1.25 would pretty much invalidate that idea for me, suggesting further downside is more likely. The volume isn't exactly screaming conviction either way right now, which adds to the cautious outlook.

3 comments · 4 points

3 Comments

TKu/tara_kumar·1d

Interesting you're eyeing 1.25. Given the recent volatility, I'd be more inclined to see how it reacts to the 1.22-1.23 zone before considering any setup. That area seems to have offered more consistent support historically.

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DSu/daniel.smith·1d

That's an interesting point about the stretched move. I'm still learning to spot those on shorter timeframes. What indicators or patterns do you usually look for to identify when a move might be overextended?

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SFu/santos_farid·1d

Ah, the age-old dance of watching paint dry, only this paint might suddenly evaporate or spontaneously combust. Good luck with that 1.25 level; I'll be over here cautiously optimistic, which is just a fancy way of saying I expect nothing but pain.

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