Nowadays we are observing one more crypto decline under the leadership of ETH/BTC and one more LUNC outperformance!
As you can clearly see from my posts, I like to use LUNC as guinea pig for my technical analysis trials. (You can read my older posts regarding LUNC in my profile.)
Also I have an instinct that this crypto will make a kinda comeback in a way! Of course I don't mean old 3 digit levels (Or even 1 digit level, cause it has 6.5 trillion of supply) but I think it will make investors happy in the long run.
In my latest post regarding LUNC, I asked if it's a time for new run! They tried to make people sell with a fake bearish move but then it started to rise Lately LUNC performed 60 percent up while other cryptos were busy with painting houses red!
Let's look at the latest situation with my favourite tools (FIBO and FIBO MAs)
As you can see FIBO retracement and moving averages work like a charm! It's in a positive area and there is a kind of bullish flag formation as it's being sandwiched between FIBO 38,2 and 23.6. So 0.00014057 and 0.00016667 are next important spots. If we can get over of 0.00016667 and manage to stay over it, we will start to talk about 0.0002 and 0.0003!
Let's see what happens!
Good luck!
