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- 1 Terra Luna (LUNC) is currently trading at $0.00009222 with a 22.22% fall in its 24-hour trading volume.
- 2 LUNC is up by 2.58% in the last 7 days on the daily chart.
Terra Classic price prediction indicates that Lunc price is trading within the firm grasp of the bears. The Terra Luna price is presently forming a pennant pattern; forming a lower high which suggests that the LUNC crypto is in the deaccumulation phase. The pennant pattern is an indicator of trend continuation which indicates that after a selloff, there is a buildup of buying and selling pressure.
Terra blockchain protocol uses fiat-pegged stablecoins to power a global payment system. As per its white paper, Terra combines price stability and wide adoption of fiat currencies with censorship resistance of Bitcoin including fast and affordable settlements. Terra’s native token is LUNC.
Presently, the value of the LUNC token is $2.124 and it has a market cap of $214.53 Million.
Turn Of Red Parameters In LunarCrush
The majority of the parameters are flashing in red across the LunarCrush platform. The total bullish sentiment parameter fell by 44.45%. There is also a negative decline of 52.85% in the social engagement levels indicating that popularity may have dropped slightly across various social media platforms regarding the token.
Depreciation in the trading activity is also being projected as per the decline in The 24-hour trading volume of 22.53% within the past few days.
Technical Analysis of LUNC Price on the Daily Chart
The RSI line is presently consolidating horizontally near the median line. The RSI line is moving near 50.32 points and the 14-day SMA is providing support to it at around 49.33 points. The RSI divergence indicates that the price of the LUNC token can see a positive increase.
The %D and %K lines recently intercepted the median line moving in contrast with the price and RSI line. The present value of stochastic RSI is 63.32 points.
Conclusion
The price of LUNC is attempting to break its downtrend. The oscillators are exhibiting that the LUNC price can see a positive increase in its value in the near future. Investors’ sentiment reflects a hesitancy regarding the positive recovery of the token according to the LunarCrush platform.
Technical levels
Support – $0.00008000
Resistance – $0.00012000
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.
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.
