Terra Classic (LUNC) Price Analysis: Will It Reach $0.0002 in February?
Terra Classic (LUNC) has experienced modest gains recently, with the altcoin trading in the green. Bulls have taken control after support at $0.00009 held, reversing the dominance of sellers. In December, LUNC reached a Q4 milestone, reaching a peak of $0.00028.
Technical Analysis
LUNC is currently trading at $0.00011, showing a 2% growth over the past 24 hours. On the four-hour chart, LUNC is moving between two key levels: resistance at $0.00011 and support at $0.000108, both represented by the 20-day Exponential Moving Average (EMA).
If the Moving Average Convergence Divergence (MACD) indicator generates a buy signal soon, it could trigger a rally towards the next resistance level at $0.00013. The buy signal occurs when the MACD line crosses above the signal line, accompanied by green histograms above the neutral area.
Consolidation and Uptrend Formation
While many altcoins broke out as Bitcoin surpassed $47,000, Terra Classic is currently consolidating. This consolidation phase indicates that LUNC is preparing for a breakout towards $0.0002.
The gradually forming uptrend is reinforced by the upward movement of both the 20-day EMA and the 50-day EMA on the chart.
- 200-day EMA: Immediate resistance level at $0.00011
- 20-day EMA: Short-term support at $0.000108
- MACD: Likely to generate a buy signal
- Resistance: $0.000115, $0.00013
- Support: $0.0001, $0.00009
Daily Chart Analysis
The technical structure on the daily chart confirms that LUNC has exhausted its downtrend and is in the early stages of a larger breakout. The 20-day EMA and the 200-day EMA work together to provide support at $0.000108.
Bullish Trend and Resistance
The MACD indicator indicates a bullish trend for LUNC, suggesting that traders are buying more of the coin and driving its price higher. The main obstacle for LUNC to overcome is the 50-day EMA resistance at $0.000114. If LUNC can surpass this level, it has the potential to surge even further.
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