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- Over the past three trading sessions, the price of Terra Classic has been moving in a bearish trend.
- LUNC crypto has dropped below 20 and 50 EMA but is still above 100-days DMA.
- The pair of LUNC/BTC is at 0.00000001355 BTC with an intraday drop of 7.25%.
It is challenging to keep Terra Classic in its current state, which was formerly known as Terra. The LUNC cryptocurrency is making an effort to maintain its current position as the token is currently facing significant selling pressure after briefly rising. Bears are stepping in to pull the token back down to the lower level on the daily chart. LUNC investors need to keep an eye on the daily chart for any changes in trend. If the LUNC coin wants to keep its current price, it must entice purchasers in the interim.
Terra Classic’s market capitalization has declined by 8.40% during the last day to be worth about $0.0002552. However, transaction volume increased by 15.76% during the intraday trading session. This shows that buyers are making an effort to raise the price of the LUNC coin. The volume to market cap ratio is 0.3529.
Over the daily price chart, the LUNC coin is trading with a significant amount of upward momentum. The token strives to speed up as it gets closer to the recovery phase. After finding support at $0.000085 and crossing over $0.00030 during the consolidation phase, the downwardly trending LUNC stock started to show signs of recovery. LUNC has begun to pick up steam and must now surpass $1.00. However, the volume change is below average and needs to rise for LUNC to keep climbing.
What do Technical Indicators suggest about LUNC?
The LUNC coin price is moving significantly lower throughout the daily price chart. Technical data, however, suggests that LUNC is abandoning neutrality and returning.
The bearish momentum of LUNC is highlighted by the Relative Strength Index. The RSI is approaching oversold territory at 46, moving away from neutrality. The LUNC coin’s expected lifespan is indicated by the MACD chart. After a negative crossover, the MACD line is lower than the signal line. LUNC investors need to keep an eye on the daily chart for any changes in trend.
Conclusion
It is challenging to keep Terra Classic in its current state, which was formerly known as Terra. The LUNC cryptocurrency is making an effort to maintain its current position as the token is currently facing significant selling pressure after briefly rising. Bears are stepping in to pull the token back down to the lower level on the daily chart. LUNC investors need to keep an eye on the daily chart for any changes in trend. LUNC has begun to pick up steam and must now surpass $1.00. However, the volume change is below average and needs to rise for LUNC to keep climbing. Technical data, however, suggests that LUNC is abandoning neutrality and returning. After a negative crossover, the MACD line is lower than the signal line. LUNC investors need to keep an eye on the daily chart for any changes in trend.
Technical Levels
Support Levels: $0.00020 and $0.00015
Resistance Levels: $0.00030 and $0.00050
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
