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Cryptocurrency News Articles

LUMIA Technical Analysis: Bearish Trend May Continue, But Oversold Conditions Suggest a Possible Reversal

Oct 20, 2024 at 02:04 pm

LUMIA's recent price action has been bearish, with a decline from $1.47 to $1.20. RSI (14) suggests oversold conditions. Keep a close eye on $1.15, $1.10, and $1.05 support levels.

LUMIA Technical Analysis: Bearish Trend May Continue, But Oversold Conditions Suggest a Possible Reversal

LUMIA's price action has been bearish recently, showing a decline from $1.47 to $1.20.

*Technical Analysis*

- Trend: Bearish

- RSI (14): 30 (oversold)

- MACD: Bearish crossover

- Moving Averages: Below 50-day and 200-day MA

*Recent Price Action*

- Recent low: $1.20

- Recent high: $1.47

- Current price: Around $1.20 (near the low)

*Support Levels*

- Immediate support: $1.15 (23.6% Fibonacci retracement)

- Strong support: $1.10

- Critical support: $1.05

- Fibonacci retracements:

- 38.2% retracement: $1.28

- 50% retracement: $1.235

- 61.8% retracement: $1.19

*Resistance Levels*

- Immediate resistance: $1.30

- Strong resistance: $1.42

- Critical resistance: $1.47

*Potential Scenarios*

1. Bearish continuation: Break below $1.15 could lead to $1.05 and $0.95.

2. Bullish reversal: Break above $1.30 could lead to $1.42 and $1.47.

*Market Sentiment*

- Bearish sentiment dominates, but RSI suggests oversold conditions.

- Potential buy opportunity near support levels.

LUMIA's bearish trend may continue, but oversold conditions and potential support levels suggest a possible reversal. Keep a close eye on $1.15, $1.10, and $1.05 support levels.

#Lumia #MemeCoinTrending #SCRSpotTradingOnBinance #WhichMemeCoin? #BTCSoarsTo68K

News source:www.binance.com

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