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LUNA/USDTPERP Potential Upward Movement

LUNA/USDTPERP Long-Term Trend: Bullish

Key Resistance Levels: 33.507, 34.000, 34.500.

Key Support Levels: 28.695, 26.597, 21.918.

Daily Chart:

The price on the higher time frame found support around the daily key level (28.695 USDT) that coincides with the 61.80% Fibonacci retracement level. This led to a reversal and a move higher toward the previous all time high.

LUNA/USDTPERP Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price succeeded to break the bearish channel formation with the help of a double bottom formation. The price is posting a correction count around the highlighted where we expect next a bullish wave toward the target profit.

Signal Idea:

Buy Limit Order @ 28.719

TP 1 @ 33.248

TP 2 @ 33.507

Stop Loss @ 27.106

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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