Terra Luna Classic Price Prediction: A Path to Recovery
Terra Luna Classic (LUNC) is experiencing a positive trend in the cryptocurrency market, signaling a potential turnaround. The price of Terra Classic is currently trading at $0.0001166, with a rise of 3.31%. This reflects the broader upward movements seen in most cryptocurrencies, including Bitcoin, which has surpassed the $52K barrier.
After fluctuating between $0.00001190 and $0.00010 over the last seven days, Terra Classic experienced a breakout that propelled it past the $0.00011 mark. This breakout demonstrates renewed bullish enthusiasm and strengthens Terra Classic’s impact on the overall cryptocurrency sector.
Over the previous week, Terra Luna Classic has shown an 8% increase, indicating a bullish trend amidst market volatility. Trading volume has decreased by 21.47% to approximately $37.88 million over 24 hours. Terra Classic is currently ranked 101st on CoinMarketCap, with a live market cap of $673 million.
The recovery of Terra Classic can be attributed to several pivotal developments, including Binance’s token burn initiative and a significant increase in LUNC staking, which has crossed the 1 trillion mark. Trade volumes have surged, and short positions on LUNC have closed, further supporting the asset’s bullish momentum.
Terra Luna Classic Technical Indicators and Market Sentiment
If LUNC continues its upward trajectory past the $0.00012 mark, it is expected that the bullish momentum will solidify. This could lead to challenging higher resistance levels at $0.00019 and even $0.001. On the downside, a shift towards bearish sentiment may cause the price to retract to the $0.0001 support level, with a sustained downward trend potentially reaching $0.00009.
Technical analyses suggest a positive outlook, with the Moving Average Convergence Divergence (MACD) indicating an upward trend and the Relative Strength Index (RSI) signaling a neutral to positive trend. The Chaikin Money Flow (CMF) is also in a positive position, further indicating bullish sentiment.
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