Published 3 hours ago
LUNC Price Analysis: Under the influence of a downsloping trendline, the LUNC price has witnessed an aggressive fall over the past three months. From the peak of $0.000208, this downfall tumbled the coin price 61.7% to hit the $0.00008 psychological support. However, with the recent uptick in the crypto market, the buyers are likely to rechallenge the dynamics resistance trendline and determine whether the LUNC price will prolong this correction or trigger a new recovery rally.
Key Points:
- Until the overhead resistance trendline is intact the LUNC price may witness a longer correction`
- A breakout above the trendline will reflect a shift in market sentiment from selling on rallies to buying on dips
- The intraday trading volume in the LUNC coin is $99.8 Million, indicating an 85% gain.
Source- Tradingview
The falling LUNC coin price recently found support at the psychological level of $0.00008. bullish reversal from this support has surged the prices 15.2% up to currently trade at the $0.000092 mark.
With sustained buying, the coin price may rise another 10% to challenge the overhead resistance trendline. The prices have turned down thrice from this dynamic resistance indicating the traders are aggressively selling at bullish pullbacks.
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Thus, the coin holders should keep a close eye on this trendline for any signs of rejection that will indicate the resumption of the correction phase which most likely plunge below the last swing low of $0.00008.
On a contrary note, a breakout above the trendline will hint at an early sign of trend reversal.
Technical Indicators
Relative Strength Index: The daily RSI slope reverted from the oversold region reflects that market participants are accumulating the coin at discounted prices.
Exponential Moving Average: the 20-and-50-day EMA acts as a dynamic resistance to assist sellers to prolong the bearish fall.
LUNC Crypto Price Intraday Levels
- Spot rate: $0.0000925
- Trend: Up
- Volatility: Medium
- Resistance level- $0.000095 and $0.000115
- Support level- $0.00008 and $0.000062
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/lunc-price-analysis-plots-a-10-rise-this-week-but-theres-a-catch/