Solana, LUNA, Tron Price Analysis: 10 March
While the last 24 hours proved to be rather menacing for the bulls, the Crypto fear and greed index showed minor improvements in the overall sentiment. The near-term technicals of Solana, LUNA, and Tron exhibited a bearish inclination but the CMF kept the bullish revival chances bright in the days to come.
Solana (SOL)
Source: TradingView, SOL/USD
SOL saw a nearly 47% loss (from 20 January) and touched its six-month low on 24 February. Since then, it saw an over 40% jump toward its $102-resistance.
As the bears were keen on sustaining their edge, SOL quickly fell to test the $80-floor, while the EMA ribbons undertook a bearish flip. Despite the recent breakout from its down-channel, the alt struggled to find a close above the ribbons. Any further retracements should find testing grounds near the $80-mark.
At press time, SOL traded at $82.65. After losing its midline support, the bearish RSI aimed to test the 40-support. Also, while the -DI (of the DMI) looked north, it affirmed the near-term bearish movements for the alt. But the ADX continued to stand weak and project a fragile directional trend.
Terra (LUNA)
Source: TradingView, LUNA/USDT
After breaking down from the up-channel from the $86-mark, LUNA lost half its value and plunged towards its two-month low on 31 January. This level coincided with the 61.8% Fibonacci support. Consequently, the alt entered into a recovery phase.
It doubled its value in the course of the next few days before facing a barrier at the $101-mark. A strong pullback from here would continue to find testing support at the 23.6% Fibonacci level.
At press time, LUNA was trading at $94.7. The RSI hovered above the midline but depicted a decreasing buying influence. After a bearish divergence (white
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