TerraClassic‘s (LUNC) price is currently trading lower compared to the previous day’s close, maintaining a significant range-bound consolidation. The volatility of the asset has slashed heavily but the volume has risen notably. Hence pointing out equal participation among the bulls and the bears have compelled the price to swing within a limited region.
However, despite the bears having maintained their dominance, some pointers point to a significant upswing ahead. Primarily, the LUNC price has extended the currently symmetrical triangle but the RSI displayed a bullish divergence, maintaining its levels above the trend line.
As mentioned in the chart, the symmetrical triangle has been extended by forming a new triangle. As RSI is displaying a huge strength, the possibility of the asset breaking out from the triangle appears pretty high as the price is again at the apex. On the other hand, as a range-bound swing appears to continue for long, the asset may keep on extending the symmetrical triangle for another couple of days.
Until bulls or the bear, of them, lose their strength, the TerraClassic (LUNC) price may continue with range-bound consolidation. Moreover, the MACD displays the soaring robustness of the asset with less selling pressure compared to that of buying. Therefore, the popular token may keep up the bullish momentum and elevated volume throughout the week.
Was this writing helpful?
Source: https://coinpedia.org/price-analysis/terraclassic-lunc-price-may-outperform-popular-cryptos-in-these-terms-very-soon/