LUNA Technical Analysis: Breakout Fuels Uptrend With Next Target at $75

The LUNA coin price surpasses the short-coming resistance trendline and aims to overperform the 50 and 100-day EMAs merged at $60 and reach $75. The LUNA coin price shows a symmetrical triangle pattern breakout with a 15% jump in the last 72 hours. The price sustains above the 200-day EMA and remains significantly neutral in the bearish market. Will this triangle breakout help the altcoin regain the uptrend momentum? Key technical points: LUNA coin price sustains above the $50 mark. The MACD and signal lines avoid yet another potential bearish crossover. The 24-hour trading volume in the Terra token is $2.82 Billion, indicating a 1.24% fall. Past Performance of LUNA LUNA coin price shows a 15% price jump after a fakeout of the 200-day EMA resulting in the symmetrical triangle breakout. The price jump helps avoid the $50 downfall and end the lower high formation under the resistance trendline influence. The uptrend may continue to reach the $75 resistance zone if it surpasses the merged 50 and 100-day EMAs at $60. Source-Tradingview LUNA Technical Analysis The short-coming uptrend in the LUNA coin price lacks the volume support as the 1.24% rise remains negligible to show a bullish commitment. Hence, a rise in trading volume can provide an extra edge for bullish traders and help avoid a reversal from $60. The crucial 50, 100, and 200-day EMAs showcase a sideways trend in the 200-day EMA, but the market value of the Terra token ...