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LUNA: Can this technical setup pull off yet another 80% rally like last time
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LUNA has been one of the cryptocurrencies that registered a strong recovery post the broader market slump. Moreover, it has had impressive developments thanks to the increasing popularity of its US dollar-pegged stablecoin – the UST. Given the rise, specific traders charted a technical setup that preceded an 80% price rally in the Terra (LUNA) market.
Interestingly, this bullish setup that appeared in August 2021 is live again.
An anonymous trader incorporated Moving Average Convergence Divergence (MACD) to analyze LUNA’s following possible movements. The weekly chart below showed an exciting crossover that could trigger LUNA’s growth above the $100 mark.
<p lang=«en» dir=«ltr» xml:lang=«en»>Something is up on $LUNA weekly timeframe. Last time the MACD crossover occured it sent $LUNA from $12 to $106. #luna #nfa pic.twitter.com/9TYyGmp88j— Argonauts
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