Terra Classic price prediction suggests the bulls are stepping in the price action after the recent decline. Presently, the price of the LUNC token is testing its 100 EMA resistance on a daily timeframe. The bulls are giving their best efforts in order to push the price up, though the multiple barriers presented by the price action imply buyers may find this target challenging to attain in the near future.
Terra blockchain protocol operates fiat-pegged stablecoins to power a global payment procedure. As per its white paper, Terra fuses price stability and wide adoption of fiat currencies with censorship resistance of Bitcoin including prompt and affordable settlements. Terra’s native token is LUNC.
The present value of LUNC is $0.000094, It has a market capitalization of around $544.11 Million.
Rise in LunarCrush Levels Regarding LUNC
There is a bounce in the majority of LunarCrush parameters. The total bullish sentiment metric has surged by 11.74%. A sharp rise of 54.35% is observed in the total social engagement level, which suggests potential investors in the community are optimistic regarding the further increase in LUNC crypto.
Nutarl Greed Sentiment Of Investors
Investor sentiments regarding the overall cryptocurrency market are presently neutral. The market’s sentiment metric had decreased by 3 points in the last week when the index was moving near 56 points.
The value of the sentiment index is 54 points in the Fear and Greed Index, as per the Alternative(dot)me platform.
LUNC Price Prediction: Technical Analysis On 1-Day Chart
The RSI line has recently reached the supply zone. The present value of the RSI is 61.94 points and the value of 14 SMA is 45.97 points. The RSI line may take a reversal from the supply zone.
At present, the stochastic RSI has accession to the overbought level and the value is 99.53 points. The stochastic RSI may give a bearish crossover between the %K and %D lines.
Conclusion
According to the analysis, LUNC price is gaining buyers’ support on the 1-day chart after the recent plunge in its value. Investor sentiments regarding the overall cryptocurrency market are neutral. Presently, the price of the LUNC token is testing its 100 EMA resistance on a daily timeframe.
Technical Levels:
Support –$0.000080
Resistance – $0.000120
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish 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.
Source: https://www.thecoinrepublic.com/2023/07/17/terra-classic-price-prediction-bulls-retake-control-of-the-lunc-chart/