LUNA hit a new all-time high, as markets reacted to news that U.S. president Joe Biden had signed an executive order on cryptocurrencies. Biden wants his government to examine the “risks and benefits” of crypto, news of which sent the likes of NEAR and ANC almost 20% higher.rallied on Wednesday to reclaim its position as the world’s sixth-largest cryptocurrency.
As of writing this, LUNA/USD is up by over 25% on the day, breaking past its resistance of $86.24 in the process.LUNA/USD – Daily Chart This surge created a bullish engulfing pattern, which overcame all the action of the past eight days, where prices to as low as $75. Looking at the chart, today’s move has taken the 14-day RSI to a ceiling of 69, should it break, then the recent high of 74 will likely be the next target area.WAVES
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Not just LUNA, but other cryptocurrencies are reacting to this
Well-done! LUNA is still pumping🚀 and trending on Twitter!🔥 Congrats, LUNAtics 🥳 LUNAUSDT
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for sure todays executive order be a good thing for crypto markets long-term!
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