Lunyr next step up

Viktor Karapetjanc Crypto Post

Following the previous idea on Lunyr, price has reached the projected resistance and broke above it suggesting the uptrend continuation. Price has reached $40 high and corrected down sharply, while currently trading at $18.

But overall trend remains bullish as price rejected the uptrend trendline, 50 Moving Average and managed to close above the previous resistance at $13 with confidence. The next resistance is located at $43 area, that is 38.2% Fibonacci retracement applied through the previous all-time high.

It seems that LUN/USD is getting some more upside momentum and growth could take a parabolic shape. At the same time consolidation could take place and price might return back to $13 support area.

Author

Viktor Karapetjanc

Crypto Post

Viktor is a Chief Editor, veteran currency trader. He started his trading career in 2001 when he began to study Forex and Binary options trading techniques. Not long after he became a trading systems engineer and algorithmic trading guru.

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