Technical Analysis: Terra Luna Drops 20%, While Symbol Token Climbs on Friday

Terra (Luna) was 1 of this week’s biggest crypto losers, falling by arsenic overmuch arsenic 20% during Friday’s session. Declines successful terra came arsenic cosmos (ATOM) besides had a double-digit decline.

Biggest gainers

Although crypto markets were chiefly trading successful the red, symbol (XYM) was 1 of the uncommon exceptions to ascent higher today.

XYM roseate to an intraday precocious of $0.1728 during Friday’s session, rising from an earlier debased of $0.155.

This determination started erstwhile the awesome surged from its enactment astatine $0.146, an country wherever it has been trading astir for the bulk of the week.

As of writing, XYM was trading implicit 7% higher, with terms enactment continuing to summation strength, aft a caller breakout from a cardinal RSI absorption point.

The 14-day RSI indicator is presently tracking astatine 44, pursuing its surge from the 35 level, which was a humanities constituent of terms uncertainty.

XYM/USD – Daily Chart

Traders volition apt present hold to spot if awesome could scope absorption of $0.189.

Biggest losers

Another day, and cosmos (ATOM) was erstwhile again trading lower, falling by arsenic overmuch arsenic 10% successful the process. Despite this, it was terra (LUNA) which was Friday’s carnivore of the day, and was down astir 16% arsenic of writing.

The determination saw LUNA/USD widen its caller selloff, hitting an intraday debased of $47.72, pursuing an earlier precocious of $58.20.

Looking astatine the illustration below, the diminution commenced aft a breakout from the $59.75 floor, starring to further drops, which present sees caller enactment of $47.95 being formed.

In summation to the breakout, prices are present heavy oversold, which is 1 of the lone indications that the bearish unit could beryllium fading.

LUNA/USD – Daily Chart

Will we spot immoderate little lows this play from terra? Let america cognize your thoughts successful the comments conception below.

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