In the past nine days, LUNA soared by 226%, and in just 24 hours, it gained 45.8% with a significant trading volume. This surge coincided with a network upgrade, hinting at strong bullish sentiment surrounding the asset.
To confirm an upward trend, LUNA must close the week above 0.168 USD. Key resistance levels to monitor include 0.28 USD, 0.51 USD, and 0.72 USD, while support around 0.16-0.18 USD presents potential buying opportunities.
Despite the bullish outlook, concerns about a potential bearish divergence are emerging. Should LUNA’s price fall below 0.15 USD, coupled with high selling volume, this may indicate a challenging situation for bulls.
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