LUNC Price Prediction: Soaring High, Time to Buy Terra Classic?

Bittime - Terra Classic (LUNC) again showed positive movement by recording a slight increase. However, LUNC price prediction indicates a potential correction before Terra Classic breaks 26% to $0.0001474.

Terra Classic (LUNC) Price Prediction: Battle Between Bullish Trend and Death Cross

Terra Classic (LUNC) price again showed upward movement, seeking protection at the $0.0001 demand zone. Last week's bullish outlook brought a breath of fresh air, drawing investors back into the market.

However, in the $0.00011 area, there is seller congestion reinforced by the 200-day Exponential Moving Average (EMA). This triggers a correction to restore unrealized profits.

This price drop also serves as confirmation of the trendline support, which is part of the ascending triangle pattern.

The zone around $0.0001 is considered the key demand area, but a stronger rebound is needed to break the x-axis (horizontal) resistance at $0.000117.

Traders are expected to place buy orders in the area slightly above $0.000117, after validation of the triangle pattern.

A rally of 26% is anticipated, equal to the distance between the pattern's low and high. This rally will push the LUNC price to $0.0001474.

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Terra Classic Market Correction: Bearish Signal Strengthens

Terra Classic price movement suggests a potential correction from last week's peak, supported by a sell signal from the Moving Average Convergence Divergence (MACD) indicator.

Currently, the MACD line and signal line are below the neutral zone, indicating bearish momentum.

This bearish tendency is reinforced by the death cross pattern which forms when the 20-day Exponential Moving Average (EMA) (blue line) falls below the 50-day EMA (red line) on the chart. This formation indicates a slowdown in bullish momentum and a potential price decline.

Source: Coingape 

In this situation, investors need to pay attention to several key levels. First, the rising trend line acts as potential support.

Will LUNC Experience a Correction?

Second, the 200 day EMA which can also provide support. Third, the price level is $0.000117 which is the x-axis on the chart.

If the blue MACD line fails to penetrate above the red signal line, it is possible that the price correction will continue.

A breakout of the ascending trend line, 200-day EMA, or $0.000117 level could indicate a potential reversal.

Possibility of smooth LUNC recovery

• The possibility of LUNC recovery is indicated by the bounce from the trend line.
• A break above the 200 EMA and the $0.000117 level will strengthen the uptrend (bullish) prediction.

Possible correction

• A drop below the trend line as support could trigger a major sell-off.
• LUNC may drop to the $0.000088 support level before attempting another upward move.

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You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.  

To be able to buy crypto assets on  Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn  Complete Guide How to Buy Crypto on Bittime . 

Monitor price chart movements of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime. 

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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.