hi
Covenant x402
Boomer
Claudia
Lighter
NEAR Protocol
Injective
- LUNC/USDT recovered 18% from its all-time low.
- LUNC/USDT is down 54% from the resistance level of $0.0002.
TERRA CLASSIC is trading at $0.0000932. The price is up 2.25% in the last 24H. The 24H trading volume saw a jump of 1.47%. The Total Market Cap is $542,764,801.
TERRA CLASSIC is getting dominated by the bears from the past few months. The Market started to decline after a failed attempt to breach the resistance of $0.0002. This Failure cost the LUNC 54% of its value and forced it to create a new all-time low at $0.0000790. The price is trading 32% below the 200 EMA on the Daily Chart.
LUNC Saw a breakout of a falling wedge.
The Daily Chart displays the struggle of LUNC and shows that the price is in a strong downtrend. The price action formed a falling wedge pattern and the price did manage to escape it. A successful breakout will have an upside potential of almost 115% targeting the resistance level of $0.0002.
While the market witnesses a breakout, the price is still trapped under the resistance of $0.000118. The Bears are forcing the prices to stay below . The price is consolidating in a sideways movement and a Bullish scenario can come into the play only after breaking the resistance. Meanwhile, LUNC recently created a new all-time low which is a sign of weakness.
The 4h Chart Shows a symmetrical triangle
On the 4H Chart, price is getting squeezed in a symmetrical triangle. This breakout of this pattern has an equal probability of either side. LUNC Price is getting compressed which means volatility can be right at the corner. Investors are closely observing this Pattern as it can be a good opportunity for a decent trade in the short-term.
On the upside, if the Bulls Show the strength to break the resistance, expect a rise of 30% to its minor resistance of $0.000154. As the overall trend is bearish, The market shouldn’t be surprised to witness a further downfall. A breach of support means new lows for LUNC and uncertainty for its future.
RSI: The RSI indicator is currently at 51.60. This indicates sideways conditions
MACD: The MACD is moving close to signal line representing sideways conditions and a big move in near future.
200 EMA: As observed, on the 4hr, the price is moving around 200 EMA(exponential moving average). This is a sign of sideways consolidation and direction is unclear
Conclusion:
TERRA CLASSIC is getting consolidated at its all-time low. This is alarming as a breach of support can collapse the market. Investors are concerned about the slipping prices. While some are looking to try some luck. Since LUNC is already trading in the lows this position can offer a good risk-to-reward and a potential to gain decent profits. Traders are getting ready for the upcoming volatility but it would be wise to follow a good risk-management plan.
Technical levels
Support Levels: $0.0000790 – Support 1
Current Price: $$0.0000932
Resistance Levels: $$0.000118- Resistance 1
$$0.000154 – Resistance 2
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.
