The Luna currency has made a strong comeback after yesterday's correction, rising again with strong upward momentum and renewed speculative demand. The currency bounced from the range of 0.113-0.120 US dollars, recording a new high of 0.18 US dollars, indicating that the volatility is not over yet.
This step highlights a market dominated by narrative momentum, expectations of network upgrades, and active short-term trading activity.
🔍 Why is Luna's price pumping again?
1. Narrative Ignition:
Community discussions and social media activity intensified ahead of the ruling on Do Kwon and the upcoming network update to version 3.6.1, leading to speculative flows.
2. Bullish Technical Break:
Luna has regained its key exponential moving averages on lower time frames, turning them into support, leading to a new bullish crossover.
The Relative Strength Index remains high, but it shows trend strength, not exhaustion.
3. Liquidity Momentum:
After shedding some losses during the drop, Luna attracted renewed trading volume, allowing the price to rebound sharply and set a new daily high of 0.1808 USD.
📈 Bullish Scenario (55%)
If the coin maintains its momentum above 0.150-0.158 USD, upside targets include:
0.176 USD
0.185 USD
0.200 USD (Psychological Barrier).
The continuation of strong trading relies on sustainable trading volume and the strength of the altcoin market in general.
📉 Correction Scenario (45%)
Due to volatility, Luna remains susceptible to a pullback towards:
0.147 USD
0.132 USD
0.118 USD (Short-term Major Support).
Re-testing these areas would be healthy if bulls target another expansion phase.
⚠️ Risk Management
Luna's movement is currently driven by narrative, not fundamentals. This increases the likelihood of upside and downside risks, creating ideal conditions for high-volatility traders, but it requires caution when entering late trades.
