Terra LUNA price shows reasons to believe that a significant countertrend rally is likely to take place in the coming days. Important levels were established.

Terra LUNA price has been trading in a range through October. This has caused investors consider what direction LUNA will go in the coming months.

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After a remarkable 3x rise on September 1, Luna fell by 70 percent. If the market continues to be in a state of turmoil an abrupt shift in one direction or the other is likely begin to redress the market's erratic behavior.

LUNA price is currently at 2.49. The bearish trend showed an unmistakable tapering pattern on the Volume Profile Indicator. This pattern indicates that the downtrend's strength is diminishing. The bulls also pushed back to the support of the RSI in both the daily and hourly time frames.

In the event of these conditions an upward trend toward $5.00 $5.00 congestion zone is likely to occur. An increase over $2.80 as the $2.80 swing high may be the catalyst to trigger a rally.

In contrast in the event that bears test $1.96 swing lows, then $1.96 lower lows of the swing, traders are likely to see a further decline towards the $1.75 zone. Such a change would lead to the decline of 35.

LUNA price has a consistent tapering in the volume profile amidst the decline, which suggests that the downtrend is waning.

A break of $1.96 could trigger a plunge to $1.75 or even $1.75. A breach higher than $2.80 could trigger a one-time rally with a target of $5.00.

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