LUNA Classic price analysis: Bears dominate LUNC price as its market cap drops below $700 million

LUNC, the updated version of LUNA, is constantly battling sales pressure.
In terms of the hourly price chart, the LUNC coin is trading below the 20 and 50-day exponential moving averages.
LUNC coin with bitcoin pair is trading down 0.84% at 0.00000003157 Satoshis.

LUNA has changed its original name to LUNC after a catastrophic crisis. But again buyers are not interested in LUNC coin and are afraid of the upcoming decline. Thus the hourly price action is showing a lower low formation.

LUNC coin recently noted the lowest level near the $0.00009 mark, on the other hand, buyers are struggling near the conceptual round level of $0.0001 Mark.

Thus, at the time of writing, LUNC coin is trading at $0.0000947 mark. However, if the buyers manage to keep the price above the $0.00090 mark, the intraday candlestick could see a longer-legged doji candle.

Meanwhile, according to CMC data, the market cap stands at $617 million. However, the market cap has declined by 1% in the last 24 hours. Moreover, LUNC coin with bitcoin pair is trading down 0.84% at 0.00000003157 Satoshis.

In terms of the hourly price chart, LUNC coin price action is showing sideways movement below the 20 and 50 day exponential moving averages. Similarly, the altcoin price is trading well below the 20 EMA on the 4-hours chart. Will the bulls have to break through this area as soon as possible.

LUNC Coin is ranked #214 in the overall cryptocurrency industry as of now. Still, buyers are not interested in the LUNC coin, so traders have recorded a 38% drop in the last 24 hours. Furthermore, the volume to market cap ratio is 0.1911.

conclusion

Although LUNC coin has been following a downtrend for the past several days. But the leak of LUNC’s technical data, makes higher price predictions quite difficult.

support level – $0.00009

Resistance level – $0.0001

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 the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss

ALSO READ: Top German Electronics Retailer MediaMarktSaturn Group Collaborates With Kurant To Launch Crypto ATMs