LUNC Price Prediction: Terra Classic Coin Set To Revisit December 2022 Bottom; Buy Again?

LUNC Price Prediction: Over the past seven weeks, the LUNC price obtained strong footing from local support of $0.00016. The coin rebounded from this support several times indicating the traders were aggressively accumulating at this level. However, with the increasing selling pressure in the market, the LUNC price lost this crucial support on March 3rd and now is at risk of further downfall.

Key Points: 

• Increasing buying pressure at $0.000143 support indicates the LUNC price may witness a minor bullish pullback before resuming the prevailing downfall
• The falling 20-day EMA could offer additional resistance against the LUNC price potential gain
• The intraday trading volume in the LUNC coin is $66 Million, indicating a 30% loss.

Source- Tradingview

On March 3rd, the crypto market witnessed a sudden sell-off and plunged the majority of major cryptocurrencies to lower level. Thus, the LUNC price faced a similar fate and showcased a massive breakdown from a monthly support zone of $0.00016.

By press time, the coin price was trading at the $0.000147 mark and trying to sustain above the $0.000143 local support. The long-tail rejection candles formed above the aforementioned support indicate the increasing demand price at this level.

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This candle indicates the LUNC price is likely to witness a minor pullback which may retest the $0.00016 breached support as potential resistance. This retest would be crucial to LUNC holders as it will validate whether the last breakdown was genuine or just an outcome of panic selling.

If this altcoin shows sustainability below the $0.000143 mark, the sellers may pull the prices back to the December 2022 bottom of $0.000127.

Technical Indicators

Relative Strength Index: the daily RSI slope dives deeper into bearish territory reflecting the selling pressure in the market.

Bollinger Band: the falling LUNC price plunged below the bottom support of the Bollinger band indicator suggesting the selling pressure has been aggressive for the time spent.

LUNC Crypto Price Intraday Levels

• Spot rate: $0.000147
• Trend: Bullish 
• Volatility: High
• Resistance level- $0.00016 and $0.000186
• Support level- $0.000143 and $0.000127