LUNC Price Analysis: A down-slopping trendline (yellow) governs the ongoing downtrend in Terraย (LUNA) Classic (LUNC) price. Starting from the peak value of $0.000211 on Feb 3rd, the coinโs price dropped by a substantial 58.3 percent to reach theย present price of $0.000087.
Nonetheless, with theย present indecisiveness in the digitalย currency market, the sliding LUNC price took a sideways detour allowing buyers to re-challenge the dynamics resistance. This confrontation will serve as a critical moment to determine whether the correction in LUNC price will continue or if it will spark a new recovery rally.
LUNC Price Daily Chartย
- The ongoing downtrend in the LUNC price will prolong until the resistance trendline is intact
- A positiveย tendency breakout from the overhead trendline will serve as an early sign to tendency reversal
- The intraday volumeย ofย trading in the LUNC coin is $21.5 Million, indicating a 37 percent gain.
Source- Tradingview
Inย theย previous two months, the LUNC price has turned down thrice from the down-slopping resistance trendline, indicating the traders are actively selling at market rallies which is a key sign of an established downtrend.
Althoughย while the broader market suffers from uncertainty, the LUNC price shows a short-term sideways tendency over the psychological support of $0.00008. This consolidating price action is bound to hit the sliding trendline whichย canย potentially replenish the underlying bearish momentum.
A potential reversal from this trendline may plunge the cryptoย altcoin 28 percent down to hit the $0.000062 mark.
On a contrary note, interested buyers looking for long opportunities must wait for a positiveย tendency breakout from the aforementioned trendline. The post-breakout rally could surge the prices to their 1st target of $0.000012.
LUNC Technical Analysis
- Pivot Levels: This Support/Resistance determining indicator project the LUNC price may witness wholeย lotย of demand pressure at $0.00007, followed by $0.000062. Alternatively, the $0.000096 and $0.000116 stand as high-supply zones.
- Directional Movement Index: The ADX slope of 40 percent signifies the ongoing downtrend is unstable and the traders may soon witness a breakout from the sliding trendline
Will LUNC price Hit $0.00012 Mark?
Any positiveย tendency potential for LUNC price depends on its breakout over the downsloping trendline. A potential breakout over this trendline will daily candle closing will recuperate the buying pressure and offer buyers a wholeย lotย of launchpad to hit $0.00012.
