Terra Classic Price Analysis: Will LUNC Crypto be able to Reverse the Trend?

• Terra Classic price has been trading in a bearish rally over the daily price chart.
• LUNC crypto is still above 100-days DMA but has fallen below 20 and 50 EMA.
• The pair of LUNC/BTC is at 0.00000001321 BTC with an intraday drop of 7.28%.

It is difficult to maintain Terra Classic, formerly known as Terra, in its current condition. The token is currently under heavy selling pressure after briefly gaining, and the LUNC cryptocurrency is making an effort to hold its current position. On the daily chart, bears are intervening to push the token back down to the lower level. Investors in LUNC should monitor the daily chart for any shifts in trends. LUNC currency needs to find buyers in the meantime if it wants to maintain its present price.

The market capitalization of Terra Classic decreased by 8.81% over the previous day to reach about $0.0002498. However, during the intraday trading session, the number of transactions rose by 50.75%. This demonstrates that buyers are attempting to drive up the cost of the LUNC currency. The volume to market cap ratio is 0.4239.

The LUNC coin is trading with a large level of upward momentum over the daily price chart. As it approaches the recovery phase, the token tries to accelerate. The downwardly sliding LUNC stock began to show indications of recovery after crossing over $0.00030 during the consolidation period and found support at $0.000085. LUNC is starting to gain momentum and must now surpass $1. The volume change, however, is below average and must increase for LUNC to continue rising.

What do Technical Indicators suggest about LUNC?

The daily price chart shows a sharp decline in the price of the LUNC coin. Technical indicators, however, indicate that LUNC is giving up neutrality and dumping in oversold areas.

The Relative Strength Index emphasizes the LUNC’s bearish momentum. At 46, the RSI is trending away from neutrality and toward oversold territory. The MACD chart shows the anticipated life of the LUNC coin. The MACD line is lower than the signal line following a negative crossover. Investors in LUNC should monitor the daily chart for any shifts in trend.

Conclusion

It is difficult to maintain Terra Classic, formerly known as Terra, in its current condition. The token is currently under heavy selling pressure after briefly gaining, and the LUNC cryptocurrency is making an effort to hold its current position. On the daily chart, bears are intervening to push the token back down to the lower level. Investors in LUNC should monitor the daily chart for any shifts in trend. LUNC is starting to gain momentum and must now surpass $1. The volume change, however, is below average and must increase for LUNC to continue rising. Technical indicators, however, indicate that LUNC is giving up neutrality and dumping in oversold areas. The MACD line is lower than the signal line following a negative crossover. Investors in LUNC should monitor the daily chart for any shifts in trend.

Technical Levels

Support Levels: $0.00020 and $0.00015  

Resistance Levels: $0.00030 and $0.00050

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish any financial, investment, or other advice. Investing in or trading crypto 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.

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