LUNC/USD Price Spikes Above $0.00029 Level

The Terra Classic price is fighting to hold above the $0.00030 but overhead pressure continues to make this task a difficult one for the bulls.

LUNC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $0.00050, $0.00055, $0.00060

Support Levels: $0.00012, $0.00010, $0.00008

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At the time of writing, LUNC/USD is trading above the 9-day and 21-day moving averages to avoid extending the bearish leg to $0.00020. The 9-day moving average is also a key level in the mission to avert the losses, perhaps the need for it to cross above the 21-day moving average. Alternatively, the LUNC bulls need to find acceptance above the intraday high of $0.00030 to refuel the recovery momentum.

Terra Classic Price Prediction: Can Terra Classic Price Go Higher?

The Terra Classic price is stable above $0.00030 as it is currently attempting an upside break above the 9-day and 21-day moving averages. Meanwhile, a close above $0.00030 could open the doors for a larger increase in the coming sessions as LUNC/USD is slowly moving higher towards the $0.00035 resistance level. However, the key resistance level may be located around $0.00040, while the bulls could hit the potential resistance levels at $0.00050, $0.00055, and $0.00060 in the near term.

On the other hand, if there is no clear break above the moving averages, there are chances of fresh decline. However, as the 9-day MA remains below the 21-day MA, the coin may stay on the negative side and initial support is near the $0.00025 level. However, the main support may form near this level, below which the price could dive towards the supports of $0.00012, $0.00010, and $0.00008 as the technical indicator Relative Strength Index (14) remains above the 50-level.

LUNC/USD Medium-Term Trend: Ranging (4H Chart)

On the 4-hour chart, a fresh bullish movement gives the impression that buyers are likely to dominate the market. However, the Terra Classic price rises to fill a significant gap as the bulls may take the coin towards the $0.00033. In a short time, the Terra Classic price may hit $0.00035 if the bullish pressure continues. Otherwise, the price may revisit the supports of $0.00025 and below.

On the upside, a bullish move may hit the resistance at $0.00038 and above. As of now, the Relative Strength Index (14) is moving above the 60-level, this could mean that the Terra Classic price may face the upper boundary of the channel.

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