A new weekly candle, so far not looking good for the bulls 🐂 CoinMarketCap analyzes the movements of $BTC, $ETH, $NEAR, $SOL, $LUNA and $FTM in the 4-hour time frame.
A loss of this level and expect a panic sell into deeper waters.
A 4-hour close above $70 is a good start for the bulls. However, if we see a rejection from $70-$75 expect a continuation of lower lows.Zooming out we can see LUNA has broken out of its bullish channel. The crash is further exacerbated by the, causing LUNA to dip further amidst a bear market. At the time of this writing, LUNA is looking to confirm support at $35. LUNA desperately needs a bounce off this level.
A 4-hour close above $35 gives the bulls a chance. However, a rejection from this level and expect the sell-off to continue.Zooming out we can see AVAX has lost major support. At the time of this writing, AVAX is testing its last major support level before revisiting the channel support at $35. Looking left we can see this level is a battleground for the bulls and bears. Expect the price to sit at this level until we see a strong confirmation.