LUNA price remains muted in today’s session. The price hovers in a very tight range as investors lack conviction for any directional bias. However, some profit booking is expected in LUNA from the higher levels.
LUNA price trades in a very tight range with no meaningful action.
A decisive close below $90.0 can see an extended sell-off in the LUNA price.
The momentum oscillators skewed in favor of bearish sentiment.
LUNA price trades sideways
Source: Trading View
On the daily chart, the LUNA price continues to trade in a very tight range for the past five sessions. The price jumped more than 100% from the lows of $43.48 to the record highs of $104.57. The next price action will depend on if the critical $90.0 is sustainable by the bulls.
Currently, the price challenges the 0.23% Fibonacci retracement level at $0.91. A decisive break below the vital support level will accelerate the selling toward the critical 50-day EMA (Exponential Moving Average) placed at $0.80.
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