To put it bluntly, this rebound is simply the main force's scheme to lure more buyers! The price rose from 0.1006 to 0.1039, seemingly an increase of 3.28%, but the data is all slapping the face.
The technical aspect fundamentally does not hold up; the trading volume directly exposes the issue: there are only 12,600,000 now, which is less than half of the 5-day average volume of 23,800,000, and the 10-day average volume of 46,980,000 is even four times that. This kind of volume-less rise is 100% a false move.
Key moving averages are pressing down on the price: the price of 0.1039 can't even touch the edges of EMA7 and MA7. If the short-term moving averages can't break through, how can we talk about a reversal?
MACD is still struggling underwater: both DIF and DEA are below the zero axis, and the MACD bars are still negative. The bearish power has not weakened at all; the rebound is merely a technical pull.
The middle line of the Bollinger Bands is the ceiling: the middle line at 0.1090 is a strong resistance level, the upper line at 0.1450 is out of the question, and the lower line at 0.0730 is the destination. In this pattern, the downward space is much larger than the upward.
I checked the data, LUNA is currently ranked 259, priced at $0.1036, and has dropped 19.38% in the last 24 hours. How can a coin that has fallen like this bounce back? By relying on the founder's hype? By the community's slogans? In the crypto world, price is the hard truth.
I think the rebound will peak around EMA7 at 0.1109, with less than a 20% chance of breaking through. It is more likely to touch 0.1070-0.1100 and then turn down. In the medium term, it is highly probable that we will test the lower Bollinger band at 0.0730 again. If it breaks below, the next support is around 0.0500. However, if LUNA 2.0 loses the last bit of community consensus, reaching zero is not impossible. Don't forget how it collapsed before.
Let me give some advice. If the direction triggers the condition, the target stop-loss logic for shorting is to rebound to the 0.1080-0.1100 area. 0.07300.1150 is pushed down by the moving average + no volume, wait for a breakout at 0.1150, which is a small probability. Wait for confirmation before bottom-fishing when it stabilizes around 0.0730, and aim for a rebound at 0.09000.0700; the risk is extremely high.
For those trading spot, do not buy now! Better to miss out than to make a mistake. If you are already stuck, rebounding to 0.1080-0.1100 is an opportunity to reduce your position. If you want to bottom-fish, wait until it drops to around 0.0730 to reassess, and do not exceed 5% of your total funds.
I feel like LUNA 2.0 is a half-dead coin, not completely dead, but also unable to revive. All rebounds are just to smash it harder. Don’t be fooled by the main force buying this nonsense; trading volume does not lie.
Want to avoid the pitfalls of this volume-price divergence? Later, I will talk about 3 key indicators to identify the true intentions of the main force in the chat room. There are more valuable strategies, keep up and don’t be a sucker again.
