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- 1 LUNC price (LUNC) slid down by 1.54% in the last 24 hours and is currently trading at $0.000065.
- 2 Terra Classic price (LUNC) is in a long-term decline phase and slid down nearly 34% in the past 30 days.
Terra Classic (LUNC) has been losing value continuously for the last 6 months, dropping by more than 61%, and continued with the same momentum to decline 28% in the last 3 months. The price also seemed to respect an upper trendline resistance and declined to form a further swing low after suffering resistance.
Recently, the price declined from the trendline resistance and slipped to the previous demand zone and consolidated but failed to gain buying volume from the lower levels and declined sharply.
Terra Classic (LUNC) is a crypto platform that uses fiat-pegged stablecoins for stable and global transactions. Currently, it holds a market cap of $379.49 Million ranking at 87th in the crypto market. It regulates the stablecoin supply by incentivizing LUNA holders to exchange LUNA and stablecoins at favorable rates. This ensures that the stablecoin price always equals the fiat currency price.
Terra Classic Price Failed To Sustain Above The Demand Zone On Daily Chart.
The short-term outlook for the price trend is bearish until the price remains below the trendline resistance. The analyst’s prediction about the price trend states that the price may take pullbacks but continue to decline in the short term unless it breaks above the trendline resistance. The long-term trend is already bearish and the short-term turned bearishness has aligned with the long-term trend.
The volume analysis shows that the LUNC token has a trading volume of $14.9 Million with a decline of 19.6% over the past 24 hours. It has over 5.81 Trillion tokens in circulating supply. The volume-to-market cap ratio of the Terra Classic token is 3.91% indicating mild volatility in the market.
Technical Indicators signal the continuation of the Ongoing Trend.
As per the EMA analysis, the Terra Classic price is trading below 200 EMA which indicates a prevailing long-term bearish trend. Also, the price failed to sustain above the 50 EMA showing a lack of buyers in the market at the moment.
At the time of publishing, the RSI value of the Terra Classic token is 31.02 and that of the SMA line is 32.1. RSI is recovering after entering an oversold zone indicating the aggressive selling in the market.
MACD lines have made a bearish crossover. Also, Histogram bars are being formed below the mean line and of increasing height indicating the weakness in the market in the short term.
Conclusion
Terra Classic price prediction concludes that the price has been falling for six months and failed to break the upper trendline. The short-term and long-term trends are bearish. The volume-to-market cap ratio is 3.91% indicating mild volatility. Analysts predict that the price will continue to decline unless it breaks above the trendline. The technical indicators are also showing weakness on the charts and the price may continue to decline in the short term.
Technical Levels
- Support levels: $0.0000599 and $0.000049.
- Resistance levels: $0.000095 and $0.000107.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock 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.
