Fun

Technical Analysis: LUNA Leads Crypto Rally, ANC Slips Under Bearish Pressure

News Feed - 2022-03-01 03:03:00

Technical Analysis: LUNA Leads Crypto Rally, ANC Slips Under Bearish Pressure


On Monday, terra (LUNA) rose for its 8th session in nine days, as its value increased by close to 60% over the last week. Anchor (ANC), on the other hand, was lower after climbing by almost 50% in the same period. Biggest Gainer


Terra (LUNA) has been one of the standout performers in cryptocurrency markets in recent weeks, despite increased market volatility.


Monday’s rally in LUNA/USD saw prices climb to their highest level in over six weeks, hitting the long-term resistance point of $84.70 in the process.


This surge comes as the 14-day RSI also hit a hurdle, climbing to its resistance level of 71, which hasn’t been broken since late December. LUNA/USD – Daily Chart


As of writing this, LUNA rose to an intraday high of $84.84, which is less than 24-hours after trading at a low of $70.57.


Despite this move, two factors now potentially stand in the way of any further short-term gains, with price strength currently overbought, and the current resistance level.


Should these both be overcome, traders may be targeting $100 for LUNA as early as this week


Biggest Loser


Although cryptocurrency markets were over 3% higher to start the week, anchor (ANC) was one of the tokens to fall lower on Monday.


As of writing, ANC/USD fell to a low of $3.47 on Monday, following a second consecutive day of bearish pressure.


This pressure commenced once ANC rose to its resistance point of $3.75, which has been in place since December 28.


Since failing to break out of this ceiling, bears saw this as a sign of weakness, and piled in to push prices lower. ANC/USD – Daily Chart


In addition to this, the 14-day RSI is currently tracking above 73, which means that price strength is overbought, which was a welcome sign for those shorting.


In a sense, today’s pullback may provide caution to LUNA pulls, who find themselves in a similar situation. Tags in this story Analysis, ANC, LUNA


Is the pullback in ANC only temporary? Let us know your thoughts in the comments. Eliman Dambell


Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: ETH, BTC Rebound After Weekend Selloff MARKET UPDATES | 8 hours ago Technical Analysis: Cosmos, Harmony Prices Surge on Saturday MARKET UPDATES | 2 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleHow NFTs and the Metaverse Can Help Save the Planet Next articleRussian Bank Run Begins as Ruble Plunges to Record Low Amid Escalating Sanctions Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItPUBG Developer Parent Company Krafton to Work On NFT and Metaverse Related Projects


Krafton, the parent company of Bluehole, developers of PUBG, a popular battle royale game that has earned more than $300 million in 2021, announced it will redirect some of its activities toward developing NFT and metaverse-related projects. The company says ... read more.Topps Plans to Auction Rare 1952 Mickey Mantle NFT Card Minted on Ethereum Binance Invests $200 Million Into the Business Magazine and Digital Publisher Forbes City of Miami Gets $5.25M Disbursement From Miamicoin as MIA Flounders 88% Lower Than Price High RBI: Cryptocurrency Is a Big Threat to Macroeconomic and Financial Stability in India

News Feed

Biggest Movers: XRP Climbs 5%, as LTC Nears Multi-Week High on Saturday
Biggest Movers: XRP Climbs 5%, as LTC Nears Multi-Week High on Saturday The crypto asset xrp rose by as much as 5% on Saturday, following declines of a similar amount during yester
EY Survey Finds 1 in 4 Hedge Funds to Increase Crypto Exposure Next Year
EY Survey Finds 1 in 4 Hedge Funds to Increase Crypto Exposure Next Year EY, one of the big four consulting and auditing firms in the world, found that one in four hedge funds are
Ava Labs brings intellectual property management to K-pop industry
Vince Quill3 hours agoAva Labs brings intellectual property management to K-pop industryAccording to a market report from Allied Research, the South Korean pop music industry will be valued at $20 billion by 2031.503 Tot
The Blockchain-Based Webtoon Platform “TooNFT” Launches on Toomics’ Ecosystem
The Blockchain-Based Webtoon Platform “TooNFT” Launches on Toomics’ Ecosystem press release PRESS RELEASE. Tortola, BVI, 10 Jan 2022: Anyone who has been paying attention to t
BTC to INR: P2P Bitcoin Marketplaces Growing in India
BTC to INR: P2P Bitcoin Marketplaces Growing in IndiaEver since the supreme court quashed the banking restriction imposed by the central bank, interest in cryptocurrency has been ri
BlackRock Bitcoin ETF records biggest inflow day since March at $523M
Tom Mitchelhill7 hours agoBlackRock Bitcoin ETF records biggest inflow day since March at $523MThe BlackRock iShares Bitcoin Trust ETF has witnessed over half a billion dollars of inflows on the same day a flurry of spot
$9M and Over 4,500 Fusions – Bitcoin Cash Supporters Anticipate the Cashfusion Audit
$9M and Over 4,500 Fusions - Bitcoin Cash Supporters Anticipate the Cashfusion AuditSince November 28, 2019, the Cashfusion protocol has helped facilitate 4,583 fusions to-date with
Email auto-reply vulnerability allows hackers to mine cryptocurrency
Ezra Reguerra7 hours agoEmail auto-reply vulnerability allows hackers to mine cryptocurrencyHackers exploit email auto-replies to spread crypto-mining malware, hijacking unsuspecting users’ systems to mine cryptocurren
Indonesia Will Not Ban Cryptocurrencies Like China, Minister Says as Crypto Trade Soars
Indonesia Will Not Ban Cryptocurrencies Like China, Minister Says as Crypto Trade Soars Authorities in Indonesia do not intend to follow China’s example of imposing an outri
Ethereum’s Pectra upgrade to make normal wallets ‘smart’ and improve UX
Jesse Coghlan2 hours agoEthereum’s Pectra upgrade to make normal wallets ‘smart’ and improve UXThe update would add an improvement proposal inclusive of new operating instructions for wallets that give them smart c
Crypto Analyst Unveils List Of Top Memecoins To Buy Now
Este artículo también está disponible en español. In his latest YouTube video titled “Turn $1,000 into $100,000 With Meme Coins in 45 Days! [I’m Buying These
Mark Zuckerberg to Overhaul Meta’s Metaverse App Horizon Worlds After Criticism of Its Simple Graphics
Mark Zuckerberg to Overhaul Meta"s Metaverse App Horizon Worlds After Criticism of Its Simple Graphics Meta CEO Mark Zuckerberg has decided to overhaul the company’s flagshi