LUNA and AMP jump over 20% on Friday – Bitcoin Markets and Prices News

Crypto markets appeared to have temporarily shaken off recent volatility, with AMP once again leading the day’s bulls. Terra’s LUNA also surged, climbing as much as 20% in Friday’s trading session.

GPA

The AMP is currently trading up over 24% in today’s session, reaching its highest level since last Saturday.

Friday’s rally in the AMP came after a false break yesterday to its low of $0.0239, with prices now trading slightly above resistance.

The AMP/USD ceiling sits at the $0.2950 level, and it was slightly breached as prices hit an intraday high of $0.02993.

Technical analysis: LUNA and AMP jump more than 20% on Friday
AMP/USD – Daily Chart

Less than 24 hours ago, AMP was trading at low $0.02337, but the bullish pressure appears to have shaken off the off-market uncertainty.

Following this surge, the 14-day RSI reached a 10-day high of 47.8, a level that has served as resistance in recent sessions.

Should we see the momentum continue to the upside, this ceiling may well be broken and the AMP may soon be trading at multi-week highs.

Earth (LUNA)

The second biggest gainer today was LUNA, which is up almost 40% over the past seven days of trading.

At the time of writing, LUNA/USD hit a high of $68.80 on Friday after four consecutive days of strong gains.

LUNA was trading yesterday at a low of $56.62, which then followed a break of its resistance at $61.30, which was the main catalyst for today’s gain.

Technical analysis: LUNA and AMP jump more than 20% on Friday
LUNA/USD – Daily Chart

The longer-term bulls decided to return once this breakout occurred and pushed prices to their highest level in the past four weeks.

The 14-day RSI is also currently tracking its highest point in six weeks, after a break from the resistance level of 58.

Many bulls are likely to target $70.00 as a potential exit point.

Could we see this happening tomorrow? Let us know your thoughts in the comments.

eliman@bitcoin.com'

Eliman Dambell

Eliman brings a diverse perspective to market analysis, having worked as a brokerage manager, retail educator, and market commentator in crypto, stocks, and FX.




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