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- 1 LUNC price is currently trading at $0.000122 while recording a change of -19.23% in 24-hour trading volume.
- 2 LUNC coin price is observing a decline of 1.72% in the last 24 hours.
LUNC price is trading below all the major key averages including 20-,50-,100-, and 200- EMAs in a severe bearish trend. The price is consistently taking resistance from the 20 EMA making lower-lows and lower-highs. However, recently, after taking support from $0.00011600, the price is giving signals of a comeback. This suggests that the price may start favoring the bulls in the near future.
After a sharp rejection from 100 EMA, the price felly by 33%. The LUNC coin recently marked its all-time-low around $0.000116. Following this, the price gained buyers’ support from the same price level and made a bullish double-bottom pattern. As of now, LUNC price is consolidating near the support level with the oscillators in the demand zone. These bullish indications from the indicators suggest that the price may make a recovery.
LUNC Price is Under Bearish Influence (1-Day Timeframe)
The resistance level is currently 13% above the present price near $0.0001371 whereas the major resistance for LUNC is 27% above at $0.00015482. The support level for LUNC price is 6 percent below the current price at around $0.00011600.
Technical Analysis (1-Day Timeframe)
LUNC price is currently trading below the 200-day EMA is the bear’s influence where it is consistently taking resistance from the 100 EMA in the overall trend. Recently, after a bearish crossover from the 20 and 50 EMAs, the price retested the 50 EMA, and upon getting a rejection, the price lost 35% percent of its value. Terra classic is currently facing resistance from its recent resistance level of 20 EMA.
The RSI line is making a bullish divergence. Terra Classic price is trading near the demand zone in consolidation while the RSI line is making a higher high and higher low pattern. This is a bullish indication that suggests that LUNA coin can make a bullish reversal. The current RSI value is 40.85 points and the 14 SMA is trending just below it around 40.10 points.
Conclusion
Although the overall trend of LUNC is bearish, the technical indications for Terra are bullish. This contradictory price pattern would remind one of the saying “The bear markets have no support and the bull markets have no resistance”. Buyers may remain cautious regarding a reversal.
Technical levels –
Support –$0.000116
Resistance – $0.0001371 and $0.00015482
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 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.
