\nThe LUNC price may prolong the downward trend under the influence of a falling channel pattern’ is time to sell?\t\t\t\t<\/p>\n
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The cryptocurrency market\u2019s present bearish sentiment and increasing FUD have extended the correction trend of many coins in September too, with the LUNC coin being no exception. The altcoin\u2019s daily chart shows a subtle yet consistent decline. Over the last three weeks, Terra Classic coin price<\/a> has delineated a set of consecutive lower highs and lower lows, comfortably nestled between two parallel trend lines. These trendlines aren\u2019t just mere visual guides; they represent dynamic support and resistance and sketch out the blueprint of a falling channel pattern.<\/span><\/p>\n <\/p>\n Also Read: Binance Announces Support For Terra Luna Classic (LUNC) Network<\/a><\/p>\n The recent cascade of selling in the altcoin realm saw the LUNC price revert from the channel pattern\u2019s upper resistance, situated at $0.000064. This resulted in a swift 13% descent, pushing the coin to retest the lower trend at $0.0000557.\u00a0<\/span><\/p>\n By the press time, the Terra classic coin traded at $0.000057, marking a modest 1% uptick for the day. Traditionally, the falling channel pattern<\/a> suggests a potential rebound from the support trendline, hinting at a possible resurgence to challenge the upper resistance.\u00a0<\/span><\/p>\n<\/blockquote>\n For those eyeing a potential bullish turn, this pattern could present an opportunity. A decisive breakout above the upper resistance could pave the way for LUNC to aim for the $0.000075 zone.<\/span><\/p>\n <\/p>\n While the channel remains active, the LUNC price trajectory is predominantly bearish. And even though the pattern historically alludes to potential bullish outcomes, any break below its lower confines could spell trouble. Such a breach would amplify the prevailing bearish sentiment, potentially sending the coin spiraling down to the $0.000045 zone.<\/span><\/p>\n \n Share this article on:<\/p>\n –><\/p>\n Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading <\/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>\nFalling Channel Pattern Hints Bullish Upswing Ahead<\/b><\/h2>\n
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![\"LUNC](\"https:\/\/s3.tradingview.com\/snapshots\/7\/7R8uplMK.png\")
Source- <\/span>Tradingview<\/span><\/p>\n\n
Will the LUNC Price Correction Hit $0.000045?<\/b><\/h2>\n
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