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- 1 At press time, LUNC price $0.00007795 with an intraday decline of -14.07%.
- 2 The asset is showing uncertain signs for future sessions, and it has performed pessimistically in the past week.
- 3 Its trading volume at all major platforms is $151.57 Million, and market capitalization stood at $431.74 Million.
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.
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
