Altcoin completes bullish retest: A strong signal for further upside

Now that the Bitcoin price has found its way back up, various altcoins are also showing positive signals. We will discuss one of those altcoins in detail below.

LUNA voltooid bullish retest

LUNA recently reached a crucial stage in its market evolution by completing a bullish retest after a previous breakout. This move, which has turned previous resistance levels into support, indicates robust health of the coin and confirms the intention for further upside. This development is not only significant in itself, but is further reinforced by a similar pattern in the LUNA/BTC pair, which is showing parallel positive signals.

The power of volume

A notable aspect of this outbreak is the volume that accompanied it. The breakout candles showed higher volume compared to the previous period, indicating significant market interest and strength behind the move. This higher volume is a crucial indicator that supports the validity of the breakout and strengthens confidence in the sustainability of the uptrend.

Objectives on the horizon

First goal: The golden pocket around $7.5

The first target for LUNA is set at the golden pocket, around $7.5. This target, which is 560% away from the current point, is an important Fibonacci retracement level that often serves as a magnetic target in strong trends.

Second goal: Break all-time high to $19

Should LUNA break its all-time high, the next significant target is at the 1,618 Fibonacci extension, around $19. This represents an impressive potential of 1550% upside from the current point. Reaching this level would not only confirm LUNA’s strength and potential, but also mark a new chapter in its market performance.

Conclusion: A promising future for $LUNA

LUNA’s recent bullish retest and breakout, supported by significant volume, provide a strong foundation for optimism. As LUNA prepares to continue its upward journey, the goals set will be a key focus for investors and traders. The road to $7.5 and potentially further to $19 is paved with opportunity and, as always in the dynamic world of cryptocurrency, it requires a keen eye for market movements and a willingness to navigate the trends. LUNA’s recent achievements show that it is ready to claim its place in the spotlight.

Disclaimer: The analyzes above are based on technical patterns and trends in the crypto market. It is critical to emphasize that this information is not intended as financial advice. Cryptocurrency investments inherently involve risk and are subject to volatility. Before making investment decisions, it is recommended that you do your own research, seek financial advice and only invest what you can afford to lose.