New crypto coins have been showing some resilience lately. On the other hand, established cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple coin etc are on a bearish period, as the sentiment remains negative in the crypto market in September, so let’s have a look at the new cryptos which are itching to resume the bullish trend.
Terral Luna Analysis – LUNA/USD Remains Up For September
While the vast majority of the crypto market has been bearish during this month and remains down, Terral Luna is one of the very few cryptos, especially in the top 20 by market capitalization. The bullish momentum earlier this month only lasted until March for LUNA /USD, while the majority of the crypto market continued to make gains until May.
That seemed like Terral Luna was going to remain behind the market, but after a retreat in May, Luna resumed the surge higher in July. The 20 monthly SMA held as support, while the price formed a doji candlestick in June, which is a bullish reversing signal. The reversal came after that and LUNA/USD is bullish again now on the monthly chart, trading around $35, which is a long way above the Mach highs at $23, so buyers remain in charge here on the monthly chart.
The 50 SMA has turned into support on the daily chart
Looking at the daily chart, we see that the previous high above $23 has turned into support for LUNA/USD, holding the retreats twice this month. That shows strength when resistance zones turn into support areas. Now, the 50 daily SMA (yellow) has turned into support around $33, so buyers are pushing the lows higher in this crypto. We might open a buy signal here, so follow our signals page for trade alerts.
Fantom Analysis – FTM/USD Remains Up For September
Fantom bouncing off the 20 monthly SMA after the hammer candlestick at the 20 SMA
The picture in Fantom crypto is quite similar to Luna coin. It looks even more bullish than Luna for that matter. It retreated down in May which means that it continued to climb higher more than a month after Luna coin. FTM/USD also found support at the 20 SMA (gray) on the monthly chart and it formed a small hammer candlestick, which is a stronger bullish reversing signal than the doji.
We are long on FTM/BTC, since Bitcoin is looking bearish while the Fantom coin remains bullish, accelerating the upside momentum in FTM/BTC. It will take some time until this forex trade hits our take profit target but, it will get there. This trade you can also find on our forex signals page.