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Terra price signal that preceded an 80% LUNA rally is back -Breaking

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An technical set-up that predated an 80% price rise in theLUNAThe ) Market has resurfaced in August 2021.

The technical setup involves a so-called “signal line crossover” between LUNA’s weekly MACD line — equal to the difference between the token’s 12-week and 26-week moving averages (MA) — and the nine-week MA called the signal line, plotted above the zero line, as shown in the chart below.

Weekly illustration of MACD. TradingView
LUNA/USD weekly price chart featuring price-momentum bearish divergence. TradingView
LUNA/USD weekly chart with Fibonacci retracement supports/resistance levels. TradingView
Weekly price chart for LUNA/USD Source: TradingView
LUNA/USD weekly price chart featuring “double top” setup. TradingView