LUNC Coin Price Pumped 46.90%, Will it Strike $0.00027 Level?

• LUNC coin price experienced an increase of 46.90% during the weekly trading session.
• Technical indicators suggest a strong buy signal in the current phase.
• The 24-hour trading volume of LUNC has increased by 93.14%.

Terra Classic (LUNC) is a blockchain protocol secured using a proof-of-stake (PoS) consensus algorithm based on Tendermint. Terra uses fiat-pegged stablecoins to power price-stable global payments by combining fiat currencies with the censorship resistance of Bitcoin (BTC). The total supply of Terra Classic (LUNC) tokens is around 6.80 Trillion, of which 5.78 Trillion are in circulation.

LUNC Coin Price Returned 195% in the Last Six months

LUNC coin price took a significant U-turn from the $0.0000520 support level after a consistent fall since September 2022. The price took a major step in October 2023, which resulted in a breakout of the $0.00006860 resistance level.

Subsequently, the LUNC coin price made a single impulsive bullish candle after the breakout of the $0.00006860 resistance. The single candle gained over 40% by the sudden bullish move. This reflected a positive sentiment in the market.

Alternatively, crypto investors jumped on the $0.6860 breakeven point, resulting in a massive impulsive bullish move to the $0.0002776 resistance level. LUNC coin price surged 300% by this single rally, reflecting a total change in character.

Intrigued by this impressive bullish move, the crypto investors prepared on the $0.0000985 demand level. The bullish reaction on the demand level is currently leading the price upward. The 24-hour trading volume of LUNC is ranked 60th among the 8890 active cryptocurrencies registered in CoinMarketCap.

Technical Analysis of the LUNC Coin Price

The current LUNC coin price is gaining a lot of momentum after it rebounded by the 50 and 200-Day EMAs. LUNC price got a strong bullish reaction in the last four trading sessions, reflecting the 50-Day EMA as a strong support.

LUNC coin price has overcome a descending channel forming from the $0.0002776 resistance level. It got a bullish response from the buyers on the $0.0000877 demand level, resulting in a breakout of the $0.0001351 immediate resistance level.

The price has been moving strongly upwardly for the last four consecutive days. It faced resistance from the $0.0001861 level at press time. LUNC coin price can reach the $0.0002611 resistance if it manages to close above the $0.0002146 level.

Furthermore, the relative strength index (RSI) has shown an internal bullish divergence in the momentum. This indicates the bulls are holding more strength in the current trading sessions. RSI is sloping at 81.01 in the overbought region.

Summary

LUNC coin price got a positive response from crypto investors in October 2023. Later, the price made a massive 300% jump. Alternatively, the technical indicators suggested a strong buy signal in the current phase. At present, LUNC coin price is moving toward the $0.0002146 resistance. If the price closes above that level, it may reach the $0.0002611 resistance level.

Technical Levels

• Resistance Levels: $0.0002146 and $0.0002611
• Support Levels: $0.0001264 and $0.0000877

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading stocks and crypto comes with a risk of financial loss.