Luffy faces a critical make-or-break zone, with potential consequences if it falls below certain support levels.
It is known as Luffy, and it is an anime token. Within memes and anime tokens, Luffy’s primary ambition is to establish himself as the dominant market leader. The Luffy Burn Dashboard provides users of the LUFFY Token with a clear and transparent view of the token supply.
This dashboard monitors the burning of tokens in real-time and provides users with this information. Having access to the Luffy Burn Dashboard is what makes this possible.
A rounded top formation was presented by the token, which is currently close to the demand zone of $0.00003300, where it is taking support many times at the same time.
Currently, the price of the Luffy token is trading below the neutrality level and is hovering close to the make-or-break zone of $0.0003800. This is a significant event for cryptocurrency.
By breaking this zone, sellers will gain power, which may force the token to go below the support level of $0.00003500 and trigger the demand zone to crash. If this zone is broken, sellers will gain power.
However, the token is striving to hit the 20-day exponential moving average (EMA) and is displaying a comeback; however, it requires proof that the retreat is genuine or constitutes a fake reversal. The token is currently exhibiting a rebound.
Luffy Token (LUFFY) is currently trading at $0.00003990, which indicates that it has rejected the exponential moving average (EMA) in place for 20 continuous days. This has led to a decrease of 7.26 percent during the day.
In addition, the trading volume grew by 0.81%, reaching $33,972, indicating that the movements were not necessarily fascinating. While the market capitalization of the LUFFY/BTC pair was registered as 0.000000000952 BTC, the total amount of $4.06 million was recorded as the market capitalization of the pair.
It is projected that the price of LUFFY will continue to suffer volatility and may soon surpass $0.00003000.
Daily Charts: LUFFY Falling Channel Pattern
This is due to the lousy sentiment of analysts, which is the reason why it is anticipated that this will occur.
Despite the optimistic market sentiments on the daily charts, the price of the LUFFY token continued to persist, dragging in gains and being in a negative trend. This was the case even though such sentiments were present.
In addition to adding insult to injury, the sellers continued to construct short positions and show their legacy, which resulted in the bulls being in a challenging situation. In addition, a rounding top pattern suggests that the rejection wick is close to $0.00006400.
Furthermore, this pattern is present in addition to creating the channel. Immediately following that, the cost of Luffy experienced a decrease of over 45 percent throughout the course of the week.
Both the momentum indicator and the relative strength index (RSI) are responsible for displaying the strength of the bears. Additionally, the curve is unable to hold its position at the midline, which is an indication that there is selling pressure.
A bearish crossover was displayed by the MACD indicator, which suggested that the charts were not behaving as expected. This was identical to the previous example.
Weekly LUFFY Charts: Approaching 100EMA Day
The token has been consistently producing lower lows, and it is currently challenged with a trendline that slopes downward, which has resulted in the deliverance of the downward move.
Furthermore, the price movement is negative, and in order for the token to make a comeback, it must first overcome the 20-day exponential moving average. This is a prerequisite for the eventual comeback.
In contrast, if it drops below $0.00003900, it will continue moving closer to $0.00003600 shortly. This will occur if it continues to fall below that level.