Terra Classic Price Prediction As Renewed Recovery Aims $0.00007

Terra Classic Price Prediction As Renewed Recovery Aims $0.00007

A dynamic support trendline could bolster the LUNC price to prolong the ongoing relief rally 

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While the leading Cryptocurrency, Bitcoin has traded majorly sideways for over a year, several altcoins have witnessed indecisiveness in their decent price behavior. However, despite this turbulence, the LUNC price has managed a sustained relief rally under the influence of the ascending trendline. However, is this support enough to carry a sustained rally?

Also Read: Terra Luna Classic (LUNC) Skyrockets 10% Suddenly, Here’s Why

Support Trendline Bolsters A New Recovery

  • The coin buyers face an intense supply zone at $0.0062
  • A potential pullback to support the trendline could renew bullish momentum
  • The intraday trading volume in the LUNC coin is $16.2 Million, indicating a 42.6% loss.

TradingView ChartSource- Tradingview 

Amid the recent downturn in the market, the Terra classic coin price has recently encountered some headwinds, notably around the $0.000062 level. The daily candles exhibiting long upper wicks point to bearish sentiment, suggesting the potential for a price pullback. 

Should this pullback materialize, the LUNC price could drop approximately 4% to retest the lower ascending trendline—a level that has previously served as a reliable support for bulls to regain strength. As long as this trendline remains unbroken, a major downside correction for this altcoin appears unlikely. 

Furthermore, this could act as a catalyst for a push toward the $0.000065 level, aligning with the upper trendline of a longstanding channel pattern. 

The daily chart for LUNC price reveals a long-standing channel pattern that has framed its price action for an extended period. With the coin’s recent upturn, it appears poised to test the channel’s upper limit around the $0.000066 mark. For a sustainable rally to commence, a bullish breakout above this resistance trendline would be a critical development.

LUNC vs BTC Performance

LUNC vs BTCSource: Coingape| Terra Classic Vs Bitcoin Price

A look at the last three months’ action indicates the Terra classic coin has witnessed high volatility compared to Bitcoin price

The BTC price projects a nearly sideways trend with less fluctuation in price action. However. the LUNC price has witnessed a steady downfall, creating new lower highs and lows. 

  • Bollinger Band: The flattish upper band of the Bollinger band indicator creates an additional batten at $0.062
  • Relative Strength Index: A steady growth in the daily RSI slope indicates the buyers are making a strong attempt to reclaim lost ground.

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Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.


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