The Terra Classic token (LUNC) price was in a downtrend and faced rejection multiple times from the 200-day EMA mark. Amidst the market down move, a follow-on selloff was displayed.
The LUNC token failed to gain momentum, and trades below the key moving averages signify the sellers’ dominance. However, until the token does not breach the downside mark of $0.00009500, a fresh selloff cannot trigger again.
Conversely, bulls must break and sustain above the 200-day EMA mark to regain bullish momentum ahead.
At press time, the Terra Classic (LUNC) price traded at $0.000112 with an intraday gain of 1.90%, reflecting neutrality on the charts. It has a monthly return ratio of 9.20% and 34.20% yearly.
The pair of LUNC/BTC is at 0.00000000165 BTC, and the market cap is $773.99 Million. Analysts are neutral and suggest that the LUNC price may continue to hover below the 200-day EMA mark and might face a selloff ahead.
LUNC Looks Bearish: Can It Cross 200-Day EMA Mark?
The daily charts of the Terra Classic (LUNC) signify bearish momentum and reveal that selling pressure remained intact.
However, buyers have tried for a pullback and decisively held the gains near the round mark of $0.0001100 for the past sessions.
Source: Santiment
Following the range-bound moves, the trading volume remained flat, conveying low investor interest. Moreover, the trend is still bearish, and buyers need to cross the upside mark of $0.00012000 to shine the gains ahead.
The intraday trading volume dropped over 43.22% to $20.97 Million in the last 24 hrs, revealing no significant buying interest.
Price Volatility and Weighted Sentiment Outlook
The price volatility data remained average, signifying neutral data and highlighting the indecisiveness between the bulls and bears.
The volatility curve is below the midline region, around the 0.015 mark.
Source: Santiment
Meanwhile, the weighted sentiment data looks positive and signifies a spike of over 23% to 1.624, revealing a positive outlook among investors.
Social Dominance and Twitter Followers Data Insights
The Social Dominance data revealed a significant down move and dragged to the 0.12% mark, highlighting a drop in the discussion and media reports on the social media platforms.
Source: Santiment
Conversely, the Twitter followers data shows a pullback and surged over 12% to the -123 mark.
Futures OI Data Reveal Fresh Long Additions
This week, investors have made significant long positions and are looking for a substantial bounce beyond the $0.0001200 mark.
Source: coinglass
The OI data rose over 0.13% to $7.31 million, which signifies a long buildup activity in the past hours.
Conclusion
The Terra Classic (LUNC) price stays in the downside region and hovers below the key moving averages. Additionally, the trend is bearish, and the token failed to overtake the 200-day EMA mark and remained negative.
