$LUNA just ripped from 0.0410 to a high of 0.0525 before sellers stepped in hard, settling near 0.0486, still up 15.44% on the day.
That kind of vertical green candle followed by an immediate red rejection is a classic blow-off spike. Volume spiked to 104.75M LUNA, meaning both buyers and profit-takers were extremely active in a short window.
This is where wick analysis matters. A long upper wick shows price was rejected at 0.0525, a sign of exhaustion rather than sustained strength. Traders often watch whether price holds above the prior breakout zone or falls back into it.
Momentum spikes like this carry sharp reversal risk, especially after a 70% yearly decline.
Do you see this as trend reversal or a temporary short squeeze?
#Write2Earn #LUNA
That kind of vertical green candle followed by an immediate red rejection is a classic blow-off spike. Volume spiked to 104.75M LUNA, meaning both buyers and profit-takers were extremely active in a short window.
This is where wick analysis matters. A long upper wick shows price was rejected at 0.0525, a sign of exhaustion rather than sustained strength. Traders often watch whether price holds above the prior breakout zone or falls back into it.
Momentum spikes like this carry sharp reversal risk, especially after a 70% yearly decline.
Do you see this as trend reversal or a temporary short squeeze?
#Write2Earn #LUNA