A rebound rally in the (LUNA) the market this week is at risk of exhaustion as price retests a key trendline for a potential pullback.

LUNA has been trending lower inside a descending channel – consisting of two parallel descending trendlines – since December 2021. In doing so, the Terra token typically tests the lower trendline as support for a bounce towards the line upper trend, as shown in the chart below. .

daily price chart with falling channel. Source: Trading View
Weekly performance of LUNA against other major assets. Source: Messari

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