Skip to main content

Technical Analysis: LUNA, AMP Jump Over 20% Higher on Friday 

https://motleybloggers.com/wp-content/uploads/2022/02/technical-analysis-luna-amp-jump-over-20-higher-on-friday.jpg

Crypto markets appeared to have temporarily shaken off recent volatility, with AMP once again leading the day’s bulls. Terra’s LUNA also surged, climbing by as much as 20% during Friday’s trading session.


AMP


AMP is currently trading over 24% higher in today’s session, climbing to its highest level since last Saturday.


Friday’s rally in AMP came following a false breakout yesterday, at its floor of $0.0239, with prices now trading slightly above resistance.


The ceiling for AMP/USD lies at the $0.2950 level, and this was marginally broken, as prices rose to an intraday high of $0.02993.

It was less than 24-hours ago that AMP was trading at a low $0.02337, however bullish pressure seems to have shaken off-market uncertainty.


As a result of this surge, the 14-day RSI rose to a 10-day high of 47.8, a level which has served as resistance in recent sessions.


Should we see momentum continue upward, this ceiling could well be broken, and AMP could soon be trading at multi-week highs.



Terra (LUNA)


The second-biggest gainer today was LUNA, which has risen by nearly 40% in the last seven days of trading.


As of writing, LUNA/USD rose to a high of $68.80 on Friday, following four consecutive days of strong gains.


LUNA was trading at a low of $56.62 yesterday, which then followed a breakout of its $61.30 resistance, which was the main catalyst for today’s gain.

Longer-term bulls decided to re-enter once this breakout occurred, and pushed prices to their highest level in the last four weeks.


The 14-day RSI is also currently tracking at its highest point in six weeks, following a break from the 58 resistance level.


Many bulls are likely going to be targeting $70.00 as a potential exit point.


Could we see this happen as early as tomorrow? Let us know your thoughts in the comments.



Origina post from
https://motleybloggers.com/technical-analysis-luna-amp-jump-over-20-higher-on-friday/

Comments

Post a Comment

Popular posts from this blog

US Senator Urges Congress to Pass Her Crypto Bill — Claims It Would’ve Prevented FTX Bankruptcy

http://motleybloggers.com/wp-content/uploads/2022/11/us-senator-urges-congress-to-pass-her-crypto-bill-claims-it-wouldve-prevented-ftx-bankruptcy.jpg U.S. Senator Cynthia Lummis believes that the FTX bankruptcy wouldn’t have happened under the Lummis-Gillibrand crypto bill. She stressed: “It’s clearer now than ever before that we need comprehensive regulation in the digital asset space.” Senator Lummis Explains How Her Crypto Bill Would Prevent the FTX Catastrophe U.S. Senator Cynthia Lummis (R-WY) explained in a series of tweets Monday why the collapsed cryptocurrency exchange FTX wouldn’t have gone bankrupt had Congress passed her crypto bill. The cryptocurrency trading platform filed for bankruptcy last week. The senator from Wyoming has been a supporter of bitcoin for quite some time. She personally owns BTC and believes that bitcoin is something that the Federal Reserve should hold on its balance sheet. She has said repeatedly that the cryptocurre...
Post a Comment
Read more

Bitcoin, Ethereum Technical Analysis: ETH Back Under $2,000 as Balenciaga Gains Lose Steam

https://motleybloggers.com/wp-content/uploads/2022/05/bitcoin-ethereum-technical-analysis-eth-back-under-2000-as-balenciaga-gains-lose-steam.jpg Following strong gains to start the week, BTC once again fell under $30,000, as crypto prices moved lower on Tuesday. The downturn follows up from yesterday’s rally, which came as Balenciaga announced it would be accepting crypto payments. ETH also dropped, falling under $2,000 today. Bitcoin Bitcoin fell under $30,000 on Tuesday, as bears returned to action following a green start to the week. Following a high of $30,547.50 during Monday’s session, BTC /USD fell to an intraday low of $28,975.56 earlier today. Today’s drop saw BTC fall by over 5% in the day, as bullish sentiment following the Balenciaga crypto announcement faded. BTC /USD – Daily Chart Since then, bears have now pushed prices closer to support at $28,800, which is an area where BTC has resided over the past few weeks. Looking at the chart, the 14-da...
Post a Comment
Read more

P2P Bitcoin Traders in Nigeria Think Outside the Box in the Wake of CBN Restrictions

After the Central Bank of Nigeria issued a directive targeting the country’s cryptocurrency industry, bitcoin and altcoin trade volumes on centralized exchanges immediately plunged. Nevertheless, the new regulations seem to have succeeded in boosting crypto trade volumes on informal markets or on peer-to-peer trading platforms. Nigerian Crypto Traders Get Creative Still, the increasing trades on informal platforms have also led to increased reports of users losing money to con artists. Moreover, with the CBN seemingly eager to see volumes of crypto trades plummet, Nigerian users had to find ingenious but legal ways of getting around the central bank’s imposed restrictions. As shown in one local report , one such legal way is through an app created by one local crypto start-up, Patricia. According to the report, this application is already enabling Nigerian users to buy or sell their crypto assets securely and without running afoul of CBN regulations. Therefore, in this repor...
Post a Comment
Read more