LUNA price analysis as of March 1, 2022 confirms that the token remains one of the most bullish tokens in the cryptocurrency space. The token has surged over 80% in the last 7 days, confirming the huge demand for the token from investors. As we witnessed in our Terra price analysis on February 28th, the token broke the important resistance level of $60.

Data from CoinMarketCap shows that Terra's trading volume spiked 60.91% while the token's market cap shot up 19.70% in the last 24 hours. Moreover, the value of the volume/market cap ratio is 0.1502, while the token's market dominance is 1.74%. In addition, the LUNA token is ranked seventh in the cryptocurrency space.

LUNA's daily candle opened at $91.35 and reached a daily high of $32.22. It seems that resistance for the token is now present in the $90 price area. Moreover, today's daily low is $87.05, while 1 LUNA is trading at $88.97 at the time of this writing.

Analysis of LUNA prices for March 1 on the daily chart

The LUNA price analysis of March 1 can be confirmed in a bullish scenario, but we can expect higher prices in the near future, as the token is only 14% below its all-time high.

LUNA price analysis Source: TradingView

The MACD indicator shows that the MACD line continues to advance above the signal line, which means that the bulls are in control.

LUNA's RSI indicator shows a value of 71.31 and the gradient of today's line is negative, which means that the price could fall slightly today.

The price action has broken out of the upper end of the Bollinger band, which means that the buying pressure is beating the selling pressure.

Conclusion

A bullish conclusion can be drawn from the LUNA price analysis of March 1, and it is clear that the token will hit an all-time high in the coming days.

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