High volatility in Luna Coin crypto currency price on Monday which ended trading at $91.07

The Luna Coin crypto currency price gained 17.63% on the last trading day (Monday, 18th Apr 2022), rising from $77.43 to $91.07. During the day the crypto currency fluctuated 20.15% from a day low at $75.95 to a day high of $91.26. The price has been going up and down for this period, and there has been a -3.7% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 billion more shares were traded than the day before. In total, 3 billion shares were bought and sold for approximately $285.09 billion.

The crypto currency has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $92.84. A reaction back to this level may hold a second chance to get out before further falls.

Signals & Forecast

There are mixed signals in the crypto currency today. The Luna Coin crypto currency holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the crypto currency giving a more negative forecast for the stock. On further gains, the crypto currency will meet resistance from the long-term moving average at $95.25. On a fall, the crypto currency will find some support from the short-term average at $83.38. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, April 04, 2022, and so far it has fallen -21.76%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3-month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss

Luna Coin finds support from accumulated volume at $89.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This crypto currency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this crypto currency is considered to be "very high risk". During the last day, the crypto currency moved $15.31 between high and low, or 20.15%. For the last week, the crypto currency has had a daily average volatility of 9.02%.

Our recommended stop-loss: $85.28 (-6.36%) (This crypto currency has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 14 days ago.)

Is Luna Coin crypto currency A Buy?

Luna Coin holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this crypto currency since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.813

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