Terra Classic Price Prediction: What’s Next For $LUNC After 78% Rally in a Week?
Terra Classic Price Prediction: Over the past six days, the Terra Classic (LUNC) coin has experienced substantial growth, with its price surging from $0.000069 to the current trading value of $0.000123, indicating an impressive 78% increase. This surge can be attributed to the concerted efforts of LUNC and USDT resurgence. Notably, Terra Classic Labs recently acquired 25.6 million USTC, valued at approximately $500,000, as part of its Treasury Reserve Policy, securing these tokens at an average price of $0.021 per USTC. Given this positive momentum, will LUNC price recovery surpass the $0.00015 mark?
Also Read: Terra Classic Price Prediction As LUNC Recoils Targeting 32% Move
Post-Correction Rally Sets LUNC for 45% Surge
- A 61.8% retracement as per the FIB tool highlights the potential of a bullish trend is intact
- The rising LUNC price could face intense supply around the $0.000097 swing high resistance
- The intraday trading volume in the LUNC coin is $23.4 Million, indicating a 30% loss.
Source- Tradingview
On November 22nd, amid the altcoin market attempting to regain its bullish momentum, Terra Classic coin price broke out from the resistance trendline of the pennant pattern. This breakout suggests that buyers are regaining control and are poised to continue the bullish recovery.
This technical outlook aligned with the revival effort of LUNC and USDT has triggered a massive rally. The LUNC price currently trades at $0.000123, with an intraday gain of 22%. Amid this rally, the coin price has breached some crucial resistance at $0.0001, and $0.000115 resistance, paving the way for further rally.
If the coin price managed to sustain above $0.000115, the buyers drive a rally 12.3% higher to hit $0.000135, followed by $0.000144.
However, investors should be prepared for possible pullbacks during this rally, which can serve to replenish bullish momentum. During such retracements, the 50% and 61.8% Fibonacci retracement levels could be crucial, as previous corrections have rebounded from these levels, offering strategic points for setting stop-loss orders
LUNC vs BTC Performance
Source: Coingape| Terra Classic Vs Bitcoin Price
A comparative analysis between Bitcoin (BTC) and LUNC reveals interesting dynamics as both cryptocurrencies experienced significant growth in mid-October and early November. While BTC has managed to sustain its growth at a slower pace, LUNC faced a more pronounced impact from the recent downturn and Recovery.
For the near term, both BTC and LUNC appear to have bullish prospects. However, the high volatility associated with Terra Classic makes it a less suitable choice for risk-averse traders
- Average Directional Index. The uptick in the ADX slope around 22% accentuates the buyers have sufficient momentum to carry a prolonged recovery.
- Exponential Moving Average. The recent surge above the crucial EMAs(20, 50, 100, and 200) offers an additional edge to market buyers.
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