Technical Analysis: LUNA, AMP Jump Over 20% Higher on Friday
Crypto markets appeared to have quickly shaken off current volatility, with AMP as soon as once more main the day’s bulls. Terra’s LUNA additionally surged, climbing by as a lot as 20% throughout Friday’s buying and selling session.
AMP is at present buying and selling over 24% greater in right now’s session, climbing to its highest degree since final Saturday.
Friday’s rally in AMP got here following a false breakout yesterday, at its flooring of $0.0239, with costs now buying and selling barely above resistance.
The ceiling for AMP/USD lies on the $0.2950 degree, and this was marginally damaged, as costs rose to an intraday excessive of $0.02993.
It was lower than 24-hours in the past that AMP was buying and selling at a low $0.02337, nonetheless bullish strain appears to have shaken off-market uncertainty.
As a results of this surge, the 14-day RSI rose to a 10-day excessive of 47.8, a degree which has served as resistance in current classes.
Should we see momentum proceed upward, this ceiling might effectively be damaged, and AMP might quickly be buying and selling at multi-week highs.
The second-biggest gainer right now was LUNA, which has risen by almost 40% within the final seven days of buying and selling.
As of writing, LUNA/USD rose to a excessive of $68.80 on Friday, following 4 consecutive days of robust good points.
LUNA was buying and selling at a low of $56.62 yesterday, which then adopted a breakout of its $61.30 resistance, which was the primary catalyst for right now’s acquire.
Longer-term bulls determined to re-enter as soon as this breakout occurred, and pushed costs to their highest degree within the final 4 weeks.
The 14-day RSI can be at present monitoring at its highest level in six weeks, following a break from the 58 resistance degree.
Many bulls are seemingly going to be focusing on $70.00 as a possible exit level.
Could we see this occur as early as tomorrow? Let us know your ideas within the feedback.