LUNAUSDT Breaks Key Support as Bearish Patterns Emerge

Summary
• Price tested 0.0645–0.0660 resistance cluster before consolidating.
• Volatility expanded midday, with volume peaking near $209k at 16:15 ET.
• RSI signaled overbought conditions by 18:00 ET, followed by a pullback.
• Bollinger Bands showed moderate expansion as price drifted lower.
• A bearish engulfing pattern emerged near 0.0650–0.0645.

Terra/Tether (LUNAUSDT) opened at 0.0643 on February 6 at 12:00 ET, reached a high of 0.0660, and closed at 0.0622 by 12:00 ET on February 7. The 24-hour volume totaled 3.31 million LUNA, with a notional turnover of $209,256.

Price Structure and Key Levels

Price formed a bearish top at 0.0660 around 18:00 ET and subsequently retraced lower, testing 0.0645 as a short-term support level. A bearish engulfing pattern emerged near 0.0650–0.0645, suggesting short-term bearish momentum. The 0.0635–0.0640 range became a consolidation area, with 0.0631–0.0632 acting as a potential near-term floor.

Momentum and Oscillators

The RSI reached overbought territory above 60 at 18:00 ET before trending lower, signaling a potential reversal. MACD showed a bearish crossover after a bullish divergence in the early hours. Bollinger Bands widened as price drifted toward the lower band, indicating a potential bounce or continuation lower.

Volume and Turnover

Volume surged sharply at 16:15 ET, with a notional turnover spike of $209k, coinciding with the 0.0635 close. The volume profile appears to confirm the bearish shift after 18:00 ET, with lower bars during the consolidation phase. Price and turnover appeared aligned during the key selloff hours.

Volatility and Fibonacci Levels

Volatility expanded from 14:00–17:00 ET, with price drifting inside a 5-minute Bollinger Band contraction. A Fibonacci retracement of the 0.0640–0.0660 swing places 0.0652 (38.2%) and 0.0647 (50%) as key levels. A break below 0.0620 could target 0.0613 as a next Fibonacci level.

In the next 24 hours, LUNAUSDT may test the 0.0620–0.0625 zone for support, with a potential bounce or retest of 0.0640 if buyers re-enter. Traders should watch for a confirmation of a bearish setup or signs of a reversal in the 0.0630–0.0640 range. Risk remains to the downside should the 0.0620 level break unchallenged.