Price Analysis

Will LUNC Price Recovery Continue For The Coming Week?

The rising LUNC price retested the long-coming resistance trendline, increasing the likelihood of price reversal; keep holding?
Published by
Will LUNC Price Recovery Continue For The Coming Week?

On December 2nd, the LUNC price witnessed a massive inflow, which raised the price by 14%. However, by the day’s end, the seller rejected the higher price resulting in a higher price rejection. This long-wick rejection at a descending trendline indicates the price is likely to revert lower. Today, the prices are 1.37 down, bolstering a bearish reversal.

Advertisement

Key points: 

  • A downsloping trendline carrying the ongoing downtrend line in LUNC
  • The daily-RSI line reverted from the neutral line to reenter bearish territory.
  • The intraday trading volume in the LUNC coin is $176.35 Million, indicating a 30% loss.

Source- Tradingview

A descending trendline has limited the Terra Classic coin price recovery over the past two months. In response to this dynamic resistance, the altcoin has recently plunged to $0.00015 psychological support, trying to replenish the bullish momentum. Despite the recent uncertainty in the crypto market, the buyers manage to sustain above the aforementioned support.

Thus. using the $0.00015 as base support, the LUNC price shows a rounding bottom recovery in the daily time frame chart.  In the past four days, the coin price rosed 14% and revisited the overhead trendline.

This bullish recovery, backed by a gradual rise in volume, indicated a high-momentum rally. Moreover, Binance’s recent burn activity, which sent 6.39 billion LUNC tokens to the burn address, also contributed to this growth.

However, the LUNC price currently trades at $0.000178 and shows a power struggle to surpass the combined resistance of $0.000182 and descending trendline. If the coin remains below the aforementioned, the selling pressure will continue to rise and may plunge the prices lower.

This possible bearish reversal may assist the sellers in breaching the $0.00015 support.

Anyhow, the trades waiting for a buying opportunity should wait for an overhead trendline breakout.

Advertisement

Technical Indicators

MACD: a gradual rise in both MACD and signal line accentuates sustained buying from traders.

EMAs: the 20-day EMA support assists buyers in breaking above the resistance trendline. However, a breakdown below the recently reclaimed 20-day EMA would confirm a possible bearish reversal. 

Advertisement

LUNC Price Intraday Levels

  • Spot rate: $0.000295
  • Trend: Bearish  
  • Volatility: Medium
  • Resistance level- $0.000182 and $0.0002
  • Support level- $0.00015 and $0.000135
Advertisement

Share
Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?

Floki price has drawn strong attention after recording a bullish daily surge of over 30%.…

October 4, 2025
  • Price Analysis

BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?

BNB Coin price has entered a powerful phase after breaking through a major resistance level…

October 4, 2025
  • Price Analysis

Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B

Aster price has recently shown strong signals on the chart, with a breakout from its…

October 3, 2025
  • Price Analysis

Will XRP Price Hit $5 if the SEC Approves ETFs This Month?

XRP price could be on the cusp of a big move in the coming weeks…

October 3, 2025
  • Price Analysis

Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?

Bitcoin price has recently surged to the $120K mark, reclaiming momentum and sparking fresh optimism…

October 3, 2025
  • Price Analysis

Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying

Pi Network price has crashed by over 90% from its highest level since its mainnet…

October 2, 2025