LUNC’s Price Volatility May Continue in the Next 24 Hours

• LUNC’s price has dropped 2.68% after a volatile 24 hours.
• The altcoin’s price reached a high of $0.00021107 in the last few hours.
• Technical indicators suggest that there may be another pump in LUNC’s price.

The price of Terra Classic (LUNC) has dropped 2.68% according to the crypto market tracking website, CoinMarketCap. As a result, the price of LUNC stands at $0.0001872 at press time. This price drop comes after a somewhat volatile trading session over the last 24 hours that saw LUNC’s price reach a daily high of $0.0001945.

The volatility in LUNC’s price can be seen on the 2-hour chart for the altcoin. The volatility started with a pump in LUNC’s price from a low of $0.00016661 to a high of $0.00021107. At this local top, traders took profit – resulting in the 2-hour candle closing below the resistance at $0.00020628.

This triggered some panic selling which dragged LUNC’s price down to a low of $0.00018646 before recovering slightly to enter into another pump above the $0.00020628 resistance level. This move above the aforementioned resistance level was again a fake out and the market responded by entering into a selling frenzy which saw LUNC’s price drop to $0.00017930.

Since reaching this local bottom, LUNC’s price has entered into another mini rally which has elevated it above the 9 and 20 EMA lines on the 2-hour chart. LUNC’s price may continue its mini rally up until the resistance level at $0.00019350 before retracing again.

This short-term bullish thesis is supported by the 2-hour RSI indicator as the RSI line has crossed above the RSI SMA line and is sloped strongly towards the overbought territory.

Traders will want to watch the 9 and 20 EMA lines on LUNC’s 2-hour chart today. Should the 9 EMA line cross above the 20 EMA line today, then LUNC’s price may break past the resistance level at $0.00019350 and $0.00020628.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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