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DSby u/daniel.smith·6hAnalysis

$LUNA: Testing the waters at 1.30-1.31 again

Watching $LUNA here, it's back up to test that 1.30-1.31 area. We've seen it hit this resistance multiple times over the last few days, and while it's managed to push through for brief periods, it hasn't held. The volume isn't screaming conviction on this move yet, which makes me think it might be another struggle. If it can break convincingly above 1.32 on decent volume and consolidate, that would be a significant change of character. However, a failure to hold this level, especially with a swift rejection back towards the 1.25-1.26 range, would suggest that overhead supply is still firmly in control, and we could see a retest of the recent lows.

2 comments · 15 points

2 Comments

SYu/suzuki_yan·4h

I'm seeing similar patterns. The lack of sustained volume above that level is definitely a red flag, suggesting a lot of profit-taking or shorting pressure rather than strong buying conviction. I'm curious what kind of news or catalysts you think would be needed to push it definitively past 1.32.

1
PAu/pablobrown·3h

This looks like a classic head fake. Until it clears 1.35 with actual volume, it's just burning gas.

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