TerraClassic crypto plummeted by 1.09% in market value and surged by 4.02% in trading volume in the last 24 hours, as per the Coinmarketcap a crypto data analysis website. Its market value is $450,288,302 and its trading volume is $18,524,071. There are 5,814,830,571,109 LUNC in circulation.
As per Coinglass, another crypto analysis website. The long versus short ratio for 24 hours is 0.9508. The total number of LUNC short positions added in the last 24 hours is $114.50 against LUNC longs position of $6.27 K. The short liquidation is $734.71 versus $80.16K for the long liquidation in the TerraClassic.
LUNC coin has not performed well in the last month, decreasing by 6.89% and plummeting by 53.19% in the last six months. TerraClassic (BINANCE: LUNC) coin has a negative year-to-date return of 46.60% and a one-year return of 19.95%.
LUNC Coin Price Technical Analysis in the 1-Day Timeframe
LUNC coin price showed a downward trend for the past three months by making lower lows and highs, decreasing by 9.76% during this period. At the time of publication, the LUNC Coin price is trading at $0.00007745, and the price is trading at the very crucial support around $0.00007599.
Therefore, if the LUNC Coin price sustains the current level and rises, then it might hit the nearest resistance levels of $0.00008312 and $0.00009432.
However, the LUNC coin price could continue to move downwards and reach an all-time low at $0.00007500. If it fails to maintain the current level.
At the time of publishing, the LUNC coin price (BINANCE: LUNC) is trading below the 50, and 200-day EMAs (exponential moving averages), which are rejecting the LUNC Coin price trend.
Hence, LUNC Coin price prediction estimates the prices to move downwards, indicating a bearish outlook over the daily time frame chart for its price.
The MACD line at 0.00000218 and the signal line at 0.00000207 is below the zero line and both lines crossed each other a bearish crossover is observed in the MACD oscillator, suggesting bearish signals. The current value of the RSI is 36.56 points and the 14-day SMA is below the median line at 38.16 points, which indicates a downward direction and bearish sentiments in the market for the LUNC coin.
Conclusion
LUNC coin price prediction highlights the bearish sentiments and perspectives of investors and traders regarding the LUNC coin in the daily time frame. TerraClassic price action highlights a bearish view at the time of publishing. Moreover, the technical parameters of the TerraClassic price suggest the continuation of the downtrend over the daily time frame chart. Major trustworthy indicators MACD, RSI, and EMA, provide negative signals regarding the LUNC coin price.
Technical Levels:
- Support levels: The nearest support levels are all-time low at $0.00007500.
- Resistance levels: The nearest resistance levels are $0.00008312 and $0.00009432.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/08/10/lunc-price-prediction-2023-can-lunc-coin-break-support-decline/