The decline of the last three months in the price of the LUNC coin has caused the value of the wedge to decline. This pattern is shown when the price is constantly moving between two downward trend lines. However, in theory, this pattern is known to provide significant momentum when the price breaks its stop line.
Key points: A break of the $0.00015 support sets the LUNC price for a potential 20% decline. The descending EMAs (20, 50, 100, and 200) are rising above the price of the coin creating more resistance against the rising price.
The intraday trading value of LUNC coin is $95.8 million, showing a loss of 9.83%. On December 27, LUNC prices faced the latest rejection from the general trend. The reversal is creating a new bearish wedge in the wedge pattern and has caused the price to fall 20.5% in the last five days. The decline also crossed the regional support at $0.00015 and is currently trading at $0.00014. In the ongoing uncertainty in the crypto market, LUNC hesitates below the broken support and tries to check the support below.
The high price rejection attached to the daily candle is testing the $0.00015 mark as a possible resistance indicating that the sellers are defending this new barrier. If the selling pressure continues, the price of Terra coin will continue to decline by 22% to test the combined support of the program at $0.0001168. However, under the influence of the wedge pattern, the price of Terra Classic Coin may eventually break the overall trend and trigger a new recovery. The elimination of the program will allow an entry that, under favorable conditions, can lead to a price increase all the way to the $0.0003745 mark.
Advertisement Banner
Technical Presentation – LUNC
Relative strength index: Regarding the recent price action of LUNC coin, the daily RSI slope shows a significant growth indicating that buying is increasing at low levels. Therefore, this growth in the RSI indicator increases the probability of an upcoming recovery in LUNC. EMA: In addition to the $0.00015 support, the altcoin also breached the 20-day EMA support providing further support that a decline may begin before the start of the next bull phase.
Terra Classic Coin Intraday Price Level
- Amount: $0.000147
- Trend: Bullish
- Volatility: Medium
- Resistance levels – $0.00015 and $0.0002
- Support levels – $0.000116 and $0.000086
Join Daily Tokenews Telegram now for free!
Disclaimer
The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
