MEXCTerra Classic Price Analysis As Coinbase Mulls Relisting LUNC: Can LUNC 100X From Here
Highlights
- LUNC’s possible relisting on Coinbase sparks interest in the token among investors.
- Terra Classic's sideways movement is reflected by the RSI’s position at 42.
- Bulls can push for dominance this week if the MACD indicator holds steady.
Terra Classic sits atop robust support at $0.0001 as most cryptocurrencies battle market doldrums to find direction. The token’s outlook remains uncertain in May unless something drastic like relisting on Coinbase occurs. Based on the current Terra Classic price analysis, the path of least resistance is neither bullish nor bearish, with sideways trading emerging as the strongest trend.
Will Coinbase Relist LUNC?
The largest cryptocurrency exchange in the United States by daily traded volume, Coinbase is reportedly considering resuming trading support for Terra Classic’s LUNC.
According to a new report going around on X, and shared by @MrDiamondhandz1, LUNC’s return on Coinbase could be a game changer for the token considering the challenges the community was forced to deal with after the Terra Luna ecosystem’s crash in 2022.
The X post had accumulated over 31,000 views by the time of writing, emphasizing the weight of the matter. Investors would like to see LUNC make a comeback on Coinbase.
Such an adoption could ignite a major rally, with Terra Classic strengthening its bullish structure for a run up to $0.001.
JUST IN: $LUNA is showing as a asset not supported by #Coinbase, and $LUNC is showing available to trade on Coinbase wallet. Bullish! Time to send #LunaClassic to the moon! 🚀🌕💎🤲🏻 #Crypto #LUNCcommunity pic.twitter.com/FklO8BQ41o
— Mr. Diamondhandz1💎 (@MrDiamondhandz1) May 13, 2024
Terra Classic Price Analysis: Where Is LUNC Heading To?
The current technical structure disadvantages the bulls while favoring short-term sellers. LUNC holds below all three key bull market indicators—these are the 20-day Exponential Moving Average (EMA), the 50-day EMA, and the 200-day EMA (the blue, red, and purple lines overlaying the chart).
Support at $0.0001 is expected to hold steady this week buoyed by a weak buy signal from the Moving Average Convergence Divergence (MACD) indicator.
The blue MACD line must stay above the red signal line to affirm the bullish thesis. However, a sell signal will manifest with the MACD line crossing below the signal line, thus accentuating sellers’ activities.
The Relative Strength Index (RSI) reinforces the bearish grip as it slides below a descending trendline resistance. LUNC’s unbiased direction of trading has been emphasized by the indicator’s position at 42.
Should Terra Classic lose support at $0.0001, declines will likely soar. Traders will consider opening short positions, anticipating an extended correction to the recent bottom level of $0.00007136.
As for the medium-term outlook, the double-bottom pattern on the daily chart must resolve with a breakout above the dotted neckline to validate a new 66% breakout.
- Metamask Airdrop Countdown Begins as Wallet Team Registers Token Claim Domain
- $2.5T Citigroup Partners With Coinbase to Enable Stablecoin Payments
- Who Will Be the Next Fed Chair? Scott Bessent Confirms Final Five Candidates
- Mt. Gox Delays Repayments to 2026 as Trump-Backed American Bitcoin Adds 1,414 BTC
- Crypto ETFs Attract $1B in Fresh Capital Ahead of Expected Fed Rate Cut This Week
- Polymarket Traders Bet Ethereum Price to Hit $5,000 as Bullish Pattern Forms
- Dogecoin Price Prediction As Whales Scoop Over $300 Million- Is A Bull Run Ahead?
- Pi Coin Price Jumps 24% as 10M Tokens Exit Exchanges – Can Bulls Sustain the Momentum?
- Bitcoin Price Prediction If President Trump Announces Deal with China on October 30th- Can BTC Break $125k?
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
