BlocksInform
On Monday, terra (LUNA) rose for its eighth session in nine days, its value having increased by almost 60% in the last week. Anchor (anchor), on the other hand, was lower after climbing by almost 50% in the same period.
Biggest Gainer
Terra (LUNA) has been one of the standout performers in cryptocurrency markets in recent weeks, despite increased market volatility.
Monday’s rally in LUNA/USD saw prices climb to their highest level in over six weeks, hitting the long-term resistance point of $84.70 in the process.
This surge occurred while the 14-day rsi also hit an obstacle, climbing to its resistance level of 71, which has not been broken since late December.
At the time of writing this, LUNA has gone up to an intra-day maximum of $84.84, which is less than 24 hours after trading at a low of $70.57.
Despite these developments, there are now two potential barriers to further short-term gains, with price strength currently overbought and the current level of resistance.
Should these both be overcome, traders may be targeting $100 for LUNA as early as this week
Biggest Loser
Although cryptocurrency markets were over 3% higher to start the week, anchor (ANC) was one of the tokens to fall lower on Monday.
As of today, anc/usd has dropped to $3.47 Monday, after a second consecutive day of downward pressure.
This pressure began after reaching its $3.75 stress point, which has been in place since December 28.
Since we couldn't get out of that ceiling, the bears have seen that as a sign of weakness, and have stacked up to lower prices.
On top of that, the 14-day RSI is currently over 73, which means the price strength is overbought, which was a welcome sign for those shorting out.
In a way, today's retreat can bring caution to the luna jumpers, who are in a similar situation.
Is the pullback in ANC only temporary? Share your thoughts with us in comments.
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