BTC Smashes $30K Level While LUNA Slips to Over +20%

BTC Smashes K Level While LUNA Slips to Over +20%


Bitcoin News

  • The crypto space is mostly green today after a slight market boost in the past 24-hour.
  • BTC breaks the $30K level.
  • LUNA is down more than 20% in the last 24 hours.

The crypto markets are mostly green today after most of the digital assets raised their position in the past 24 hours. This information is based on the data provided by crypto market tracker CoinMarketCap.

BTC rises above $30K (Source: CoinMarketCap)

BTC rises above $30K (Source: CoinMarketCap)

The top 10 cryptocurrencies in the space recorded a huge gain in the past 24 hours. However, most notably, the coin with the largest market cap, Bitcoin (BTC), has risen above the $30,000 price level. This is a key support/resistance level for BTC. At the moment, Bitcoin’s price is around $30,612.33 – a 3.15% gain in the last day.

Bearish divergence forms on BTC daily chart (Source: TradingView)

Bearish divergence forms on BTC daily chart (Source: TradingView)

Looking at the RSI for the daily chart of BTC, the RSI line is above the signal indicator after briefly touching it in the last 3 days. This may be a bullish indication. One thing to watch out for is if the price of BTC can break past the 20 EMA line, which is still below the 50 EMA line.

There is still room for BTC to move up as the RSI currently sits at 36.05 – signaling that BTC is almost oversold. Is this a bullish breakout or a trap? Whether or not the trend will reverse or continue is yet to be confirmed.

LUNA is down again in last 24 hours (Source: CoinMarketCap)

Another price movement to take note of LUNA is its 24-hour price drop amounting to $0.0001899 with a -20.55% decline rate. This happened after UST price nosedived drastically on the same day.

Terra LUNA is currently the most trending project in the crypto space according to CoinMarketCap. This could be because the community is anxiously waiting to hear what the future holds for the project.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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