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ThecoinrepublicCryptocurrencyCan LUNC Price Could Go 500% Again...
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Can LUNC Price Could Go 500% Again From Current Support?

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According to the Terra Classic Daily chart, the price structure shows that the price started rising briefly from October 2023 and rose spectacularly more than 300% after breaching the $0.0000950 level towards $0.000280. However, the bears stepped in, and seamless profit booking in LUNC degraded the price slowly, which later formed the support at $0.0000900 by January 23rd, 2024.

From this support, it took a momentary break, and bulls started filling in once again, which led to another surge of 180% from $0.0000910 to $0.000255 by March 5th, 2024. The bears started booking profit after March 6th onwards and fell to the depth at $0.0000712, which is below earlier crucial support. However, the candle closed at $0.0000900 by April 13th, 2024.

LUNC

Terra Classic (LUNC) 1.D. |  Source: TradingView

After spending a brief break, the price slowly started rising in an ascending wedge, and after interacting multiple times with the 50-day, and 200-day dynamic resistance levels, it failed to cross these, which led to the breakdown of an ascending wedge pattern.

However, the price is near the same depth the last time at nearly $0.0000712, and if history repeats with buyers stepping in from this level, the tide could change as well.

Terra Classic (LUNC) Price Forecast & Indicator Overview!

At press time, the LUNC price has traded at $0.00007795 with an intraday decline of -14.07%, its trading volume at all major platforms is $151.57 Million, and market capitalization stands at $431.74 Million.

Like the last time increase from April 13th, 2024, the LUNC crypto has revealed that it is near the same price it advanced briefly in the wedge from a crucial level of around $0.0000712 on the chart. The crypto asset could increase once again, contingent on the buyer’s pressure and interest.

As of now, the dynamic resistances are pushing the price downward; MACD shows a bullish cross with a steep histogram, depicting less momentum. while the RSI has entered the extreme oversold zone below 30 and could hopefully start a U-turn; that’s a possibility. Based on the indicators PoV, it shares with us the mix and fuzzy signals.

The asset is showing uncertain signs for future sessions, and it has performed pessimistically in the past week, month, and quarter by -16.98%, -32.36%, and -48.755, respectively, indicating a downtrend.

Therefore, if the demand for LUNC increases abruptly, the asset price could bounce back from the current level. The next target for the price is to reach $0.0001300 and $0.0001720.

However, if LUNC crypto price fails to stay above the $0.0000712 level, it could decline further towards $0.00005335.

Summary

The Terra Classic (LUNC) daily chart showed a significant price surge followed by a decline due to profit booking. The price found support at $0.0000900, saw a temporary rise, then fell again.

The current price is near previous lows while facing resistance. Indicators suggest mixed signals with a potential for a price increase if buyers step in. A target of $0.0001300 to $0.0001720 is possible, with a potential decline below $0.0000712 if support fails.

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Adarsh Singh
Adarsh Singh
Adarsh ​​Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
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