{"id":320987,"date":"2024-06-11T12:52:18","date_gmt":"2024-06-11T07:22:18","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=320987"},"modified":"2024-06-11T12:52:18","modified_gmt":"2024-06-11T07:22:18","slug":"bears-attempt-a-sell-off-ahead-of-sec-tfl-settlement-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bears-attempt-a-sell-off-ahead-of-sec-tfl-settlement-crypto-news\/","title":{"rendered":"Bears Attempt a Sell-Off Ahead of SEC-TFL Settlement\u00a0 – Crypto News"},"content":{"rendered":"

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LUNC Price Analysis: In a widespread market crash, Terra price plummeted by 19% in a single day on June 8, closing below a crucial market structure. This significant drop occurred just days before the TFL-SEC memorandum was submitted to the court.\u00a0<\/span><\/p>\n

The price of LUNC traded around $0.0001038 during European business hours on Tuesday, a 3.2% drop in 24 hours and a further 11.8% decrease in 7 days.<\/span><\/p>\n

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LUNC Price Analysis: Huge Week Ahead for Terra Classic May Wade Off Bears Onslaught<\/span><\/h2>\n

\"LUNC<\/p>\n

LUNC price<\/a> has been in an ascending channel for the past 56 days. It recently broke downward from the channel in a 20% move following the market-wide crash instigated by Bitcoin<\/a>. <\/span>On a macro scale, LUNC has been in a gigantic descending triangle for the past 197 days and is approaching the end of this market structure. <\/span>The overall market sentiment is \u2018Uncertainty\u2019 as the FOMC meeting looms closer. Terra Classic price retested the lower boundary of the channel and is currently headed downward.<\/span><\/p>\n

LUNC price is also trending below the 50-day and 200-day simple moving averages (SMA<\/a>), which is bearish for the asset. The Fibonacci indicator shows that Terra\u2019s price may experience a further downside to $0.00009320. However, this price level also sports strong support spanning several months.<\/span><\/p>\n

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LUNC may witness a flurry of buys at this level, as it is a major psychological buy zone reflecting previous lows during the past months. On the journey to the upside, LUNC price may experience some resistance around $0.0001221, $0.0001360, and $0.0001471. <\/span><\/p>\n

LUNC Price Forecast: Bearish Technicals, Bullish Fundamentals<\/span><\/h2>\n

Terra Classic investors anticipate an eventful week, with key events on June 11 and June 12 potentially impacting the asset\u2019s price action. On June 11, Binance Thailand (TH<\/a>) will list LUNC and USTC on their platform, opening the Thailand market to LUNC investors and potentially increasing trading volume, which may boost the asset\u2019s price. The LUNC community plans to celebrate this listing with a special event.<\/span><\/p>\n

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Following this, on June 12, the SEC\u2019s lawsuit against Terraform Labs (TFL) may conclude with a settlement, potentially causing price volatility and pushing LUNC\u2019s price upward. This settlement will coincide with the FOMC meeting, where decisions on interest rate changes will be made. We expect these combined factors to significantly influence LUNC\u2019s price this week.<\/span><\/p>\n

Bottom Line<\/span><\/h2>\n

Terra Classic investors eagerly await June 12. A favorable court outcome could be bullish for LUNC, potentially leading to a price surge. However, other market factors, such as hawkish comments from FOMC officials, might undermine any positive effects from the court case.<\/span><\/p>\n

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LUNC Price Analysis: In a widespread market crash, Terra price plummeted by 19% in a single day on June 8, closing below a crucial market structure. This significant drop occurred just days before the TFL-SEC memorandum was submitted to the court.\u00a0 The price of LUNC traded around $0.0001038 during European business hours on Tuesday, a […]<\/p>\n","protected":false},"author":2,"featured_media":302568,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-320987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/320987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=320987"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/320987\/revisions"}],"predecessor-version":[{"id":320990,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/320987\/revisions\/320990"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/302568"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=320987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=320987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=320987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}