Technical Analysis: LUNA, AMP Jump Over 20% Higher on Friday
Crypto markets appeared to have temporarily shaken off recent volatility, with AMP once again leading the day’s bulls. Terra’s LUNA also surged, climbing by as much as 20% during Friday’s trading session. AMP AMP is curr...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Crypto markets appeared to have temporarily shaken off recent volatility, with AMP once again leading the day’s bulls. Terra’s LUNA also surged, climbing by as much as 20% during Friday’s trading session.
AMPAMP is currently trading over 24% higher in today’s session, climbing to its highest level since last Saturday.
Friday’s rally in AMP came following a false breakout yesterday, at its floor of $0.0239, with prices now trading slightly above resistance.
The ceiling for AMP/USD lies at the $0.2950 level, and this was marginally broken, as prices rose to an intraday high of $0.02993.
It was less than 24-hours ago that AMP was trading at a low $0.02337, however bullish pressure seems to have shaken off-market uncertainty.
As a result of this surge, the 14-day RSI rose to a 10-day high of 47.8, a level which has served as resistance in recent sessions.
Should we see momentum continue upward, this ceiling could well be broken, and AMP could soon be trading at multi-week highs.
Terra (LUNA)The second-biggest gainer today was LUNA, which has risen by nearly 40% in the last seven days of trading.
As of writing, LUNA/USD rose to a high of $68.80 on Friday, following four consecutive days of strong gains.
LUNA was trading at a low of $56.62 yesterday, which then followed a breakout of its $61.30 resistance, which was the main catalyst for today’s gain.
Longer-term bulls decided to re-enter once this breakout occurred, and pushed prices to their highest level in the last four weeks.
The 14-day RSI is also currently tracking at its highest point in six weeks, following a break from the 58 resistance level.
Many bulls are likely going to be targeting $70.00 as a potential exit point.
Could we see this happen as early as tomorrow? Let us know your thoughts in the comments.
Why this matters
This research story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin NewsRelated market context
Ethereum Price Gaining Ground as Its SMA 30D Funding Rate Climbs Highest in Six Months
Ethereum price is approaching a key technical inflection point, trading at $1,880 after slipping about 0.3%, intensifying its bear...
XRP Price Prediction: Ripple Token Spot Demand Hits Highest Since June
XRP price is trading around the $1.10 to $1.12 range after slipping 2% over the past day. This XRP prediction comes as price actio...
Bitcoin (BTC) Price Prediction: Can BTC Reclaim $64,850 Before the FOMC Meeting Triggers Volatility?
With Bitcoin trading near $64,047, according to the supplied TradingView data, the market is approaching a potentially important t...
Bitcoin Miners Are Becoming AI Landlords. But Which Leases Are a Positive Investment Signal?
The best story in bitcoin mining hasn’t had anything to do with bitcoin in a long time. Years ago, this business (which long lived...
Bitcoin declines below $65,000 as Trump threatens Iran after tanker attacks send Oil above $100
Bitcoin fell below $65,000 as surging oil prices and higher Treasury yields triggered a broader retreat from risk assets. Data fro...
Bitcoin Price Prediction: BTC USD Shrugging Off $800 Billion AI Sell-Off
Bitcoin price is holding up better than many risk assets despite a bearish prediction. BTC is trading near $65,500 after briefly s...