Terra Classic’s price after a remarkable rally in the past couple of days appears to have fallen into a bearish trap since the early trading hours. While the selling volume is lesser compared to that of the previous day’s buying volume, the upswing is expected to resume as the bulls come back.
Will the LUNC price reach $0.00035 by the end of the week?
LUNC price which underwent a massive blow in the first half of 2022, is now on the rise, while the entire crypto space is still under bearish captivity. The LUNC investors enjoyed more than 150% growth in the p[ast week as TerraClassic registered as one of the top performers in the crypto space.
Woefully, the price has slipped down after being rejected a couple of times at $0.0003, yet carries significant bullish momentum. The LUNC price is displaying 2 probabilities that it may choose in the coming days.
Firstly, the LUNC price may begin with an extended accumulation phase as it did soon after the previous spike in July. The asset hit the upper resistance of the Bollinger Bands and dropped back to the middle bands, later consolidated within a narrow range for a couple of months ahead.
Secondly, the LUNC price has formed a notable bullish pennant and is yet to reach the apex of the consolidation. Therefore, after swinging within a narrow region until the weekend, the price is expected to break above the pennant and surge high. The LUNC price may not only rise above $0.00035 but may also make a move above $0.0004 too.
Collectively, the Terra Classic(LUNC) price is closer to a significant upswing ahead, nullifying the bearish impact.
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Source: https://coinpedia.org/price-analysis/terra-classic-price-prediction-heres-where-lunc-price-may-reach-in-the-next-24-to-48-hours/