LUNA coin price fails to rise above the $120 mark and falls under the psychological barrier at $100. Will the downtrend reach $75?

Key technical points:
<ul>
 	<li style="font-weight: 400">The Weekly-RSI chart displays a bearish divergence</li>
 	<li style="font-weight: 400">In addition, the market price dips below the 50-day EMA.</li>
 	<li style="font-weight: 400">Finally, the 24-hour trading volume of Terra is $3.29 Billion, marking a 32.87% fall.</li>
</ul>
<h2>Past Performance of LUNA</h2>
LUNA coin price showcased an uptrend after retesting the $75 mark on 7th March, resulting in the $100 breakout and reaching the $120. The uptrend generates a support trendline moving along with the 20-day EMA. However, the recent increase in selling activity breaks below the trendline and the psychological mark accounting for a downfall of 18% within a week. 

<img src="https://s3.tradingview.com/snapshots/p/P9BgNfrw.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/P9BgNfrw/">Tradingview</a>
<h2>LUNA Technical Analysis </h2>
LUNA coin price action reflects a bearish engulfing candlestick breaking below the $100 and support trendline indicating a potential downfall to $75. However, closing below $90 will intensify selling pressure and accelerate the decline.

The recent price fall sliced through the 20-day EMA dynamic support and tagged the 50-day EMA. The coin chart displays a bullish alignment among the crucial EMAs(20, 50, 100, and 200), which could assist buyers in continuing the bullish rally.

RSI Indicator: The daily-RSI slope projected a sharp drop to the bearish territory following an evident bearish divergence. The indicator value lingering below the neutral line(50) highlights a bearish tendency.

MACD Indicator:  A bearish crossover among the MACD and signal lines indicates a sell signal for coin traders. Moreover, the rising red bars on the histogram suggest the bears are strengthening their grip. 

In a nutshell, the LUNA technical analysis highlights the trendline breakout and reflects a potential fall to the $75 mark.
<h2>Upcoming Trend </h2>
LUNA coin price experiences a surge in selling pressure with the psychological barrier cracking under pressure. Hence, traders can find selling opportunities below $90 with a target of $75.

Contrary to the bearish dogma, closing above $100 will nullify the retest phase and result in a jump to $115.

Support Levels: $90 and $75

Resistance Levels: $100 and $115

LUNA Technical Analysis: Cracking Under $100, Bears Eye $75

LUNA coin price fails to rise above the $120 mark and falls under the psychological barrier at $100. Will the downtrend reach $75?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

LUNA Technical Analysis: Cracking Under $100, Bears Eye $75

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