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- 1 LUNC price is currently trading at $0.0000872 while recording a change of -4.17% in 24-hour trading volume.
- 2 LUNC coin price is observing a decline of 1.89% in the last 24 hours.
The majority of cryptocurrencies are seeing a substantial seller presence in the price action. The investor’s views on the overall market are taking a bearish turn if the buyers decline to provide support at the demand zone. Though after taking a sharp fall there is a moment of hesitancy among the buyers and sellers.
The present value of Terra Luna is $0.0000872, it has a total market capitalization of $513.1M
A Decline in the TVL Value of LUNC
The Total Value Locked (TVL) for LUNC observed a sharp downfall mid-May from around 20.267 billion. The current value of the LUNC token is $2.839 million. It declined by 2.73% within the last 24 hours. The sudden downfall indicates that the investors are not as confident as before regarding the to.
The LUNC price is seeing significant selling pressure after breaking its support level near $0.00012. LUNC price is trading within a narrow consolidation below all the major key averages including 20-,50-,100-, and 200- EMAs. After taking a rejection from 100 EMA the price has been taking consistent resistance from the 20 EMA.
After taking support from $0.000116, the price attempted to make a bullish comeback. However, after consolidating the seller’s overpowered price and LUNC made a downturn of 30%.
LUNC Price is Taking Rejection From the 20 EMA
Presently, the RSI line is taking a retest from the 14 SMA after taking a reversal from the oversold zone. The current RSI value is 36.62 points and the 14 SMA is trending just near it around 36.69 points.
The Stochastic RSI line seems to be moving in contrast with the RSI indicator. Where the RSI line is moving near the oversold levels the Stochestic RSI is trading near the overbought zone. The %K and %D lines are giving a negative interception near 80 points, the current value of the Stochestic RSI is 73.84 points.
Conclusion
Presently, LUNC price is trading below all major EMA levels under bearish influence. The price may continue to move in the bearish direction in the near future. Buyers prefer to remain cautious regarding the change in trend. Currently, the price is expected to see a further decline in its value within the next weeks. The oscillators are trading in contrast with each other, whereas the stochastic RSI is trading in the overbought zone the RSI is trading near oversold levels.
Technical levels –
Support – $0.000080
Resistance – $0.00010
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.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
