- Terra Classic was currently at $0.0001435, which decreased by 1.20% during the intraday trading session.
- The 24-hour low of LUNC was $0.0001435 and the 24-hour high of LUNC was $0.0001474.
- The current Terra Classic token price is below 20, 50, 100, and 200-Day EMA.
The pair of LUNC/BTC was trading at 0.000000006411 BTC with a dip of 1.11% over the intraday trading session.
Terra Classic price prediction suggests that it is currently in a bearish phase. After the relisting of the token, it is in a steep downtrend as can be seen over the daily chart. This indicates that the sellers were dominating since the relisting of the token. After the token broke its primary resistance of $0.00018 the toke began consolidating which indicates that buyers helped the token to remain above its primary support. But sellers took full control of the market and forced the token to make its all-time low near the end of the year.
After the start of 2023, the token again started moving upward breaking its primary support of $0.00014 on its way. After touching its primary resistance of $0.00018 the token became stranded. But as soon as the token tried to break its primary resistance the sellers became active again and pushed the token again below its primary resistance. Because of this, the previous breakout became a false breakout.
The volume of the coin has decreased by 13.21% in the last 24 hours. The decrease in volume indicates that the number of sellers has increased. This shows that sellers are trying their best and there is a relationship between volume and the price of LUNC, which represents strength in the current bearish phase.
Terra Classic Price Technical analysis:
RSI is decreasing in the oversold zone and is showing a negative crossover which indicates that the sellers are coming in the majority and pushing LUNC downwards. This suggests the strength of the current bearish trend. The current value of RSI is 36.62 which is below the average RSI value of 48.30.
The MACD and the signal line are decreasing and showing a positive crossover over the daily chart which supports the RSI claims. Investors need to watch every move over the charts during the day’s trading session.
Conclusion
Terra Classic price analysis suggests that the token is currently in a downtrend. After the relisting, 2022 was not so good year for the token which can be seen in the daily chart. This indicated that the sellers were dominating since the relisting. After the start of 2023, the token started increasing but soon after began consolidating between its primary support and resistance. The decrease in volume shows the lack of confidence in traders. RSI and MACD both have shown a negative crossover over the daily chart which shows strength in the current bearish trend, as per the technical indicators.
Technical Levels-
Resistance level- $0.000184 and $0.000245
Support level- $0.00014275 and $0.00011259
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
Source: https://www.thecoinrepublic.com/2023/03/07/terra-classic-price-prediction-lunc-is-in-a-bearish-phase/