📈 **Key Support Levels**: - **0.000083620**: A strong confluence zone with the upward trendline and the 100 SMA. - **0.000082709**: 38.2% Fibonacci retracement level – critical support. If this level breaks, we could see further downside towards **0.000072686** (23.6% Fib).
📉 **Key Resistance Levels**: - **0.000098910**: The 61.8% Fibonacci retracement is a significant resistance. - **0.000113280**: Watch for a rally to the 76.4% Fibonacci retracement if the price breaks above the 61.8% level.
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🔄 **Recent Price Action**: LUNC attempted a breakout above the 61.8% Fibonacci retracement but faced strong resistance. We’re now seeing consolidation between support around the 100 SMA and resistance at 0.000098910. The bulls are defending the trendline, but a break below could send the price lower.
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📊 **What to Watch**: - **Support** at the 100 SMA and the 38.2% Fibonacci level – this could trigger a bounce if held. - **Resistance** at the 61.8% Fibonacci retracement – bulls need to break this level to target higher gains.
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🎯 **Possible Trade Setups**: - **Long**: Enter around 0.000083620, targeting 0.000098910 or higher if the trendline holds. - **Short**: Consider shorting if price breaks below 0.000083620, targeting the 23.6% Fib at 0.000072686.
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