LUNA coin price action gives a rounding bottom breakout, with the rally surpassing the $100 mark. Will the rally continue to reach the $150 mark?

Key technical points:
<ul>
 	<li style="font-weight: 400">LUNA prices surpass the $100 mark.</li>
 	<li style="font-weight: 400">In addition, the RSI slope spikes above the 14-day average.</li>
 	<li style="font-weight: 400">Finally, the 24-hour trading volume of Terra is $3.40 Billion, marking a 180% rise.</li>
</ul>
<h2>Past Performance of LUNA</h2>
The LUNA coin price shows a remarkable growth of 20% in the last four days resulting in the rounding bottom pattern with the neckline at $100. The crucial psychological barrier breakout of $100 increases the overall bullish attention evident by the 180% jump in trading volume. Furthermore, the rally brings a triple white soldier pattern continuation indicating sustenance in buying pressure which may continue further. 

 <img src="https://s3.tradingview.com/snapshots/i/iIgqOcJZ.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/iIgqOcJZ/">Tradingview</a>
<h2>LUNA Technical Analysis </h2>
LUNA coin price breaks above the psychological mark of $100 with a bullish engulfing candlestick projecting a huge surge in the buying pressure. However, the breakout of such a critical level demands a retest for further bullish continuation. 

The Terra market price continues the bullish rally above the crucial EMAs, maintaining a positive alignment in the daily chart. Hence, the EMAs are projecting a solid underlying bullishness.

RSI Indicator: The RSI slopes spikes above the 14-day SMA as it maintains in the nearly overbought zone. Hence, the indicator reflects a surge in the buying pressure. 

Pivot Point Indicator: The pivot points indicate an upcoming resistance at $108 that might result in a retracement as a retest of $100 breakout. However, the post-retest rally surpassing the $108 might hit the $125 mark. On the opposite end, the closest support level is $77.

In a nutshell, the LUNA technical analysis projects a high likelihood of bullish continuation above the $100 mark.
<h2>Upcoming Trend </h2>
The LUNA coin price experiences a surge in buying pressure with the rounding bottom and $100 breakout. Hence, the upcoming trend can reach the $125 mark if we observe sustained buying pressure. 

However, the retest demand of the $100 breakout increases the chances of price succumbing under the psychological barrier.

Support Levels: $100 and $90

Resistance Levels: $108 and $125

LUNA Technical Analysis: Splurging Buyers Surpass $100

LUNA coin price action gives a rounding bottom breakout, with the rally surpassing the $100 mark. Will the rally continue to reach the $150 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: Splurging Buyers Surpass $100

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