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<\/a> Terra Classic Coin Analysis: On August 15th, the Terra classic coin witnessed a massive sell-off, recording the lowest value of the day at $0.00006003. It is likely the recent market downturn was triggered by the collective decision of the LUNC community to decline the proposal<\/a> put forth by prominent member LUNC DAO, aimed to place them in a leadership role within the chain. Amid this downfall, the coin price plunged below the lower trendline of a falling chart setup indicating the coin holders may face further downfall.<\/span><\/p>\n <\/p>\n Also Read: Bitcoin BRC-20 Bridge Coming To Terra Luna Classic, LUNC & USTC To $1?<\/a><\/p>\n For over three weeks, the LUNC price<\/a> consolidated above the $0.000076 support zone reflecting evident uncertainty in the market. However, during the early hours of August 15th, the altcoin witnessed an intraday loss of 24% and a massive breakdown from the aforementioned support.<\/span><\/p>\n Losing this monthly support would intensify the selling momentum and project the Terra classic coin is poised for prolonged downfall. However, a closer look at the breakdown candle indicates the buyers recovered a significant chuck of loss by the day\u2019s end.<\/span><\/p>\n<\/blockquote>\n The long-tail rejection indicates buyers\u2019 active accumulation at a lower price. By the press time, the LUNC price trades at $0.0000678 and hints at the potential of a minor pullback to retest the breached resistance.\u00a0<\/span><\/p>\n The coin must closely watch the price behavior at the retest area as it would reflect the potential for future moments.<\/span><\/p>\n The anticipated pullback in falling LUNC price should face supply pressure at the breached $0.000076 support. If the coin sellers manage to sustain below the newly reclaimed resistance, the coin price could prolong the correction back to $0.00006.<\/span><\/p>\n <\/p>\n Conversely, if the coin price rises above the breached level with a daily candle closing, the prior breakdown will get invalidated which will fuel a potential rally.<\/span><\/p>\n \n Share this article on:<\/p>\n –><\/p>\n 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 <\/p>\n<\/p><\/div>\n The presented content 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.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n
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\n <\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\nTerra Classic Coin Analysis: Key Point\u00a0<\/b><\/h2>\n
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![\"Terra](\"https:\/\/s3.tradingview.com\/snapshots\/m\/MJDmCqrB.png\")
Source- <\/span>Tradingview<\/span><\/p>\n\n
Will LUNC Price Revist $0.00006?<\/b><\/h2>\n
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