LUNA price is looking to make a massive comeback as the market’s positive run continues. However, does it have enough momentum to hit the $1.70 mark?

LUNA Price Action

At press time, LUNA is trading at $1.5991. The digital asset’s price is up by 2.09% in the past 24 hours, with LUNA following the direction of the broader market and its 2% gain in the same period.

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On the technical front, LUNA is holding on for now. It leads against its short-term moving average (MA) indicators – especially the 10-day MA of $1.5964 – which is narrow for now, although it is expected to pick up the pace once more price gains come. The digital asset is also trading above its long-term MA indicators.

Like many popular altcoins, LUNA has a positive moving average convergence divergence (MACD) that shows a buy signal. The asset’s relative strength index (RSI) of 53.82 shows it is approaching the overbought region, although it isn’t quite there yet.

Strong Economic Forecast Boosts Crypto Prices

On the fundamental front, there isn’t much to go by for updates on LUNA. The digital asset appears to be enjoying the market-wide rally that has kicked in since the start of the year, with its price moving in tandem with the broader market.

This rally could even get extended as the Bureau of Labor Statistics’ Consumer Price Index (CPI) numbers for December have come in better than expected. The report showed that overall inflation for urban consumers dropped by 0.1% in December.

The drop was the highest recorded since April 2020, giving more hope that the Federal Reserve will cut interest rates by the end of the month. If this happens, the markets can brace for even higher gains – a bullish sign for even assets like LUNA.

Buy High-Value Presales

As investors continue to watch out for market dynamics, this might be a good time to look out for new coins that can deliver healthy gains down the line.

The first asset on our list is MEMAG. This coin was created by the Meta Masters Guild – a mobile-focused gaming guild looking to create an ecosystem of different standalone blockchain games. These games will include interesting Web concepts, ranging from non-fungible tokens (NFTs) to the metaverse.

These games will use the MEMAG token as their primacy assets, with players and contributors getting it as rewards. The first game on the MMG – titled Meta Kart Racers – is expected in the second quarter of this year, but MEMAG is available on presale for interested investors.

Meta Masters Guild has raised over $133,000 in just two days of its presale. With a price of 0.0007, MEMAG is a highly affordable coin. Its price is set to rise to 0.0023 before its public debut, representing over a threefold gain for early investors.

Fight Out is a move-to-earn platform that incentivizes users to get fit and chase their fitness objectives. The platform works with users to define their fitness goals and help them focus on specific areas they’d like to work on. It creates exercise routines and provides information to assist members in getting started on accomplishing these goals.

Fight Out also has a metaverse iteration where members will be able to engage with each other, participate in different activities, and earn.

The FGHT token is Fight Out’s native asset and will be used to process transactions and purchase any in-game products. The token can also be staked, with stakers enjoying discounts on subscriptions and other perks. The FGHT presale is live, with the digital asset already raising over $2.89 million.