LUNA coin price reverses the 50-day EMA with increased bearish momentum and warns of the 100-day EMA fallout. Will the downtrend reach $60 mark?

Key technical points:
<ul>
 	<li>The downfall threatens the 100-day EMA fallout.</li>
 	<li>The LUNA coin price has plunged 4.45% within the last 24 hours.</li>
 	<li>Finally, the 24-hour trading volume of Terra is $1.837 Billion, marking a 10% rise.</li>
</ul>
<h2>Past Performance of LUNA</h2>
The LUNA coin price action shows the trendline breakout rally continuing below the 50-day EMA and tests the 100-day EMA. The downfall accounts for a 30% fall in the past ten days and reaches the $80 mark. Moreover, the downturn continues after the 50-day EMA retest and undermines the bullish retracement seen in the past two days. 

<img src="https://s3.tradingview.com/snapshots/s/STr0FseL.png" alt="TradingView Chart" />

Source-<a class="editor-rtfLink" href="https://www.tradingview.com/x/STr0FseL/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>LUNA Technical Analysis </h2>
LUNA coin price shows a bearish engulfing candlestick with higher price rejection projecting a bearish continuation to the $75 mark, as mentioned in our <a class="editor-rtfLink" href="https://www.cryptoknowmics.com/news/luna-technical-analysis-cracking-under-100-bears-eye-75" target="_blank" rel="noopener">previous article</a>. However, the increasing bearish momentum could fall below $75 and reach the $60 mark.

The crucial daily EMAs maintain a bullish alignment in the daily chart, but the prices fall under the 50-day EMA and challenge the 100-day EMA. Hence, a retracement to the 200-day EMA is highly likely. 

RSI Indicator: The RSI slope shows a sharp deterioration and falls under the halfway mark after facing rejection from the overbought boundary in the daily chart. However, the second dip at the 100-day EMA shows a bullish divergence in action. 

MACD Indicator: The MACD and signal lines project a downtrend breaking into the negative territory with a boom in bearish histograms. Hence, the indicator reflects a rise in selling pressure. 

In a nutshell, the LUNA technical analysis highlights the possibility of a downtrend below the $75 mark.
<h2>Upcoming Trend </h2>
The LUNA/USD daily chart shows a sharp increase in selling pressure as the downtrend creeps into the 100-day EMA. Hence, a retracement to the $75 mark seems imminent, increasing the possibility of a downtrend to $60. 

Support Levels: $75 and $60

Resistance Levels: $90 and $100

LUNA Technical Analysis: Downtrend Continues As Bears Comeback

LUNA coin price reverses the 50-day EMA with increased bearish momentum and warns of the 100-day EMA fallout. Will the downtrend reach $60 mark?

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: Downtrend Continues As Bears Comeback

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