Will LUNC Price Break $0.00012 Next? – Crypto News – Crypto News
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Will LUNC Price Break $0.00012 Next? – Crypto News

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3 years ago

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Published 15 minutes ago

LUNC Price Analysis: A down-slopping trendline (yellow) governs the ongoing downtrend in Terra Classic (LUNC) price, Starting from the peak value of $0.000211 on Feb 3rd, the coin’s price dropped by a substantial 58.3% to reach the current price of $0.000087.

However, with the current indecisiveness in the cryptocurrency market, the falling LUNC price took a sideways detour allowing buyers to re-challenge the dynamic resistance. This confrontation will serve as a crucial moment to determine whether the correction in LUNC price will continue or if it will spark a new recovery rally.

Read More: Terra Classic Announces Official Date Of Parity Upgrade, LUNC To $1

LUNC Price Daily Chart

  • The ongoing downtrend in the LUNC price will prolong until the resistance trendline is intact
  • A bullish breakout from the overhead trendline will serve as an early sign to trend reversal.
  • The intraday trading volume in the LUNC coin is $21.5 Million, indicating a 37% gain.

LUNC Price AnalysisSource- tradingview

Over the past two months, the LUNC price has turned down thrice from the down-slopping resistance trendline, indicating the traders are actively selling at market rallies which is a key sign of an established downtrend.

While the broader market suffers from uncertainty, the LUNC price shows a temporary sideways trend above the psychological support of $0.00008. This consolidating price action is bound to hit the falling trendline which may replenish the underlying bearish momentum.

A potential reversal from this trendline could plunge the altcoin 28% down to hit the $0.000062 mark.

On a contrary note, interested buyers looking for long opportunities must wait for a bullish breakout from the aforementioned trendline. The post-breakout rally could propel the price to its first target of $0.000012.

LUNC Technical Analysis

  • Pivot Levels: This Support/Resistance determining indicator projects the LUNC price may witness significant demand pressure at $0.00007, followed by $0.000062. Alternatively, the $0.000096 and $0.000116 stand as high-supply zones.
  • Directional Movement Index: The ADX slope of 40% indicates the ongoing downtrend is unstable and the traders may soon witness a breakout from the falling trendline.

Will LUNC price Hit the $0.00012 Mark?

Any bullish potential for LUNC price depends on its breakout above the downsloping trendline. A potential breakout above this trendline will daily candle closing will recuperate the buying pressure and offer buyers a significant launchpad to hit $0.00012.

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian(at)coingape.com

The content presented may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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