Terra Classic Price Analysis: $LUNC Price Coiling Before a Massive Move Ahead; Buy Today?

Terra Classic Price Analysis: Decoupling with the recent uptick in the crypto market, the LUNC price continues to stay in a dormant phase. This flatlined coin price resonated between the $0.000094 and $0.000082 mark over the past two weeks, indicating a narrow range formation. Thus, an either-side breakout from this range is needed to push this altcoin out of the consolidation phase.

Also Read: LUNC News: Terra Classic Developer Asks Dapps To Reach Out Immediately

LUNC Price Daily Chart

• The LUNC price may remain a down-trending asset under the influence of a wedge pattern
• A bullish breakout from the $0.000094 resistance may encourage buyers to rechallenge this pattern key barrier.
• The intraday trading volume in the LUNC coin is $18.8 Million, indicating a 21% loss.

Source- Tradingview

By press time, the Terra classic coin trades at $0.0000863 and continues to waver within a narrow range. Despite a positive push from the broader market sentiment, the LUNC price remains sideways indicating the buyers’ lack of commitment to rally further.

Moreover, as the Terra classic coin is still under an active downtrend, the prices are more likely to plunge lower and breached the $0.000082 range support. This breakdown will boost the underlying selling momentum and fall the altcoin by 14% to hit $0.00007.

On a contrary note, a breakout above the overhead $0.000094 resistance may surge the price by 8% before reaching the significant resistance trendline of the wedge pattern.

Will LUNC Price Reclaim $0.0001?

For the LUNC price to kickstart a bullish recovery it needs to breach the resistance trendline of the wedge pattern. This breakout will signal an early sign of trend reversal and could trigger a significant recovery in this altcoin. The post-breakout rally may reach its first target around the $0.000114 mark.

• Bollinger Band: The BB indicator squeezed projects high volatility in the market and therefore a breakout action is crucial to determine potential trends. 
• Relative Strength Index: An evident growth in the daily RSI slope indicates the possibility for a $0.000094 breakout remains strong.