Terra Classic Price Analysis: Is $LUNC Price Ready to Hit $0.00012?
Terra Classic Price Analysis: Over the five days, the LUNC price showed alternate green and red candles indicating no dominance from buyers or sellers to take trend control. This uncertainty could have arisen as the US SEC filed legal action against the big crypto exchanges Binance(BNB) and Coinbase(COIN). Therefore, the Terra classic coin may see prolonged consolidation in the coming days as the overall trend is bearish under the influence of a wedge pattern.
Also Read: Terra Classic’s Biggest v2.1.0 Parity Upgrade Proposal Officially Passed, LUNC To $1
LUNC Price Daily Chart
- Despite the market sentiment remaining volatile, the LUNC price has respected the converging trendline of the wedge pattern
- A bearish reversal from the resistance trendline has set the coin price on a potential 26% drop
- The intraday trading volume in the LUNC coin is $82 Million, indicating a 27% gain.
Source- Tradingview
On June 5th, the LUNC price turned down from the resistance trendline of the wedge pattern. This reversal triggers a bear cycle within the pattern and sets a significant downfall to the lower trendline.
By press time, the coin price trades at the $0.000098 mark and continues to walk sideways, indicating no clear initiation from market participants. However, If the bearish momentum persists, a breakdown below the 20-day EMA could plunge the prices 25-30% to hit the lower trendline located near $0.000065.
Conversely, if the LUNC price rises higher, the buyers may rechallenge the overhead trendline. A breakout above the trendline will be a key signal to kickstart a new recovery rally.
Will LUNC Price Rise to $0.00012?
Under the influence of a falling wedge pattern, the LUNC price stays in a negative trend. The aforementioned reversal has set the coin price for a potential downfall, which may pull the price to the next significant support situated at $0.000082, $0.00007, followed by a lower trendline. Alternatively, the coin price only attains a recovery above the $0.00012 if the buyer breaks the above trendline.
- Exponential Moving Average: The reclaimed 20-and-50-day EMA offers strong support to the coin buyers to rechallenge the overhead trendline.
- Relative Strength Index: Conversely to sideways action, the RSI slope rising indicates the growth in underlying buying pressure.
- ASTER Token Rockets Over 10% in an Hour as Binance Announces Spot Listing
- Whale Dumps Massive $55 Million in XRP to Ripple as Coin Falls Below $3?
- Aster Token Crashes 10% On DEX Integrity Issues Ahead of Airdrop, What’s Happening?
- Spot Bitcoin ETFs Record 2nd Best Weekly Inflows Ever, Bloomberg Analysts Bullish
- Michael Saylor Says “No New Orange Dots” Pausing Bitcoin Buys as Holdings Hit Record $79B
- Bitcoin Price Prediction as Exchange Reserves Hit 6-Year Low—Is $150K Within Reach?
- Dogecoin Price Rebounds 15% From Buy Zone as Whales Add 30M DOGE – Can Bulls Push Beyond $0.30?
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
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.
