Lumia (LUMIA/USDT) has recently broken out on the daily chart, indicating potential short-term growth for the token. Nonetheless, its long-term dynamics remain under pressure.
Breakout on Daily Chart
Traders noted that Lumia has broken out from a symmetrical triangle on the daily timeframe. The current price is around $0.337, reflecting a 2.43% increase compared to the previous day. This chart indicates a renewed buying interest. The consolidation phase lasted from July through early September, where prices repeatedly tested both upper and lower boundaries.
Mixed Performance Across Timeframes
As of writing, Lumia trades at $0.3381 with a 24-hour volume of $3.78 million, indicating moderate participation. The token gained 0.46% over the last 24 hours, while it has seen an 11.10% increase over the week. However, over 90 days, it has risen by 31.44%, while the 180-day performance shows a decline of 25.65%.
Derivatives Positioning Suggests Bullish Sentiment
Derivatives data shows a strong bullish positioning among traders. The long/short ratio on Binance stands at 2.5753, with top traders positioned higher at 3.8077. Although such data indicate confidence, they also introduce risks.
Despite the positive signals for short-term growth, Lumia continues to face long-term pressure. Traders should keep this in mind when making decisions.
