Terra LUNA Classic [LUNC] Price Prediction: LUNC in This Channel

• Terra LUNA Classic [LUNC] price has dropped from the rising parallel channel and it might get reverted as Bitcoin starts surging.
• Terra LUNA crypto is trying to sustain at 20 and 50-EMA while trading below 100-days Daily Moving Average.
• The pair of LUNC/BTC was at 0.000000007483 BTC with an intraday drop of 2.23%.

Terra LUNA Classic [LUNC] price has dropped below a rising parallel channel over the daily time frame chart. LUNC cryptocurrency has been trying to surge back inside the rising parallel channel as it marches towards the lower trendline of the channel. However, trading volume is still below average and needs to grow during the day’s trading session for LUNC crypto to retain its position inside the channel. The Terra LUNA Classic [LUNC] price has surged around 0.73% in the past 24-hour and is trying to contain the accumulation rate of bulls to soar. 

Terral LUNA Classic [LUNC] price was at 0.0001708 and has gained around 0.76% of its market capitalization. However, trading volume has decreased by 17% during the intraday trading session. This demonstrates that sellers are present in the trade and are trying for a pull back. Volume to market cap ratio was at 0.09651.

Terra LUNA Classic [LUNC] price needs to skip this sideways momentum below the ascending parallel channel and must soar with strong uptrend momentum. Meanwhile, analysts believe that LUNC crypto price might retain its position inside the channel and may continue to soar during this week. 

Some analysts also believe that LUNC crypto price might recover maximum during 2023 with expectations of the upcoming most hyped crypto rally of 2023. Meanwhile, Terra LUNA crypto is trying to sustain at 20 and 50-EMA while trading below 100-days Daily Moving Average.

Will Terra LUNA Classic [LUNC] price Retain its Position Inside This Channel?

Terra LUNA Classic [LUNC] price has been recovering through an interesting rising parallel channel over the daily time frame chart. However, LUNc crypto price slipped below the channel on 9th February and now buyers are trying to push the LUNC price to surge back inside the channel. Technical indicators suggest the upside trend of LUNC price.

Relative strength index showcases the uptrend momentum of LUNC price. RSI was at 48 and surged back inside the parallel channel. MACD exhibits the upswing momentum of LUNC crypto price. The MACD line was heading towards the signal line for a positive crossover. Investors of Terra LUNA Classic cryptocurrency need to wait until the token manages to retain its position inside the parallel channel over the daily time frame chart.

Summary  

Terra LUNA Classic [LUNC] price has dropped below a rising parallel channel over the daily time frame chart. LUNC cryptocurrency has been trying to surge back inside the rising parallel channel as it marches towards the lower trendline of the channel. Some analysts also believe that LUNC crypto price might recover maximum during 2023 with expectations of the upcoming most hyped crypto rally of 2023. 

LUNC crypto price slipped below the channel on 9th February and now buyers are trying to push the LUNC price to surge back inside the channel. Technical indicators suggest the upside trend of LUNC price.  Investors of Terra LUNA Classic cryptocurrency need to wait until the token manages to retain its position inside the parallel channel over the daily time frame chart.

Technical Levels

Resistance Levels: $0.00018 and $0.00020

Support Levels: $0.00015 and $0.00012

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading any stock or crypto assets comes with a risk of financial loss.       

Andrew Smith

Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages ​​and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.