As the crypto market rebounded over the past two days, LUNA tested Fibonacci resistance of 78.6% while taking an overbought position. Avalanche has seen significant gains in recent days as it hovered above the 20-50-200 SMA.
For Tron, the $0.06 mark would be crucial in determining the chances of a possible break from the current pattern.
Terra (LUNA)
Source: TradingView, LUNA/USDT
After breaking through the up channel from the $86 mark, LUNA witnessed a 50.11% drop (as of January 17) to its two-month low on January 31. Follow the samethe alt entered a recovery phase after a pattern breakout and tested the 38.2% Fibonacci level.
Meanwhile, it maintained the Point of Control as a key area of value where the buyers continued to defend the $51 zone.
However, LUNA saw exceptional gains of over 50% in the past week. So it broke the crucial 61.8% resistance and tested the $78 level. Now the $70-$74 range would provide immediate support before a stronger pullback.
As of going to press, LUNA was trading at $75.43. The RSI stood firmly on the edge of the overbought mark. Any reversal could find a floor near the 61 mark. After touching his record high, the AO delay signs displayed on the 4-hour chart.
Avalanche (AVAX)
Source: TradingView, AVAX/USDT
Since hitting its 14-week low on January 22, AVAX posted a whopping 86.5% gain through February 17.
Since then, it has seen a setback and breakdown of the up-channel. Still, it continued to test the $77-$79 range until a strong pullback caused the alt to lose this range. With the bulls sharply defending the $66 support, any close above $79 could trigger a retest of the $83 mark.
However, as the 50 SMA (grey) jumped under the 200 SMA (green), AVAX could see a further decline.
As of going to press, AVAX was trading at $79.09. While hovering in the 52 region, the slightly bullish RSI has grown in a rising wedge in recent days. While the wedge’s upper trendline assumed resistance, a potential collapse would find support near the 46 mark.
Tron (TRX)
Source: TradingView, TRX/USDT
As TRX recovered from its six-month low on January 24, TRX grew in a bullish channel (yellow) on its 4-hour chart.
It posted nearly 40% gains to retest the 61.8% Fibonacci resistance on Feb. 10. Since testing this level, the altcoin has been in a steep downward trend. From here, the immediate resistance was at the $0.06 level which coincided with the down channel’s upper trendline. Also, near-term technicals showed a bearish edge as buyers sought to increase their leverage.
At the time of writing, TRX was trading at $0.06014. The RSI moved sideways over the past week as price action fell sharply. Any close above the centerline can propel a rectangular top rally.
This post LUNA, AVAX, Tron Price Analysis: February 27
was published first on https://ambcrypto.com/luna-avax-tron-price-analysis-27-february/
