Can Terra Classic Price Reach $0.0002?
The recent surge in momentum for Terra Classic (LUNC) has led to impressive gains in the past two weeks. The breakout above the critical resistance level of $0.00017 indicates the potential for further growth, with a quick 10% rally possible. Buyers can find strong pullback support at the 20-day EMA. Additionally, the LUNC coin has seen a significant increase in intraday trading volume, reaching $551 million and indicating a 45% gain.
Since the fourth week of November, the Terra Classic price has experienced a robust recovery, surpassing key resistance levels and reaching a recent peak of $0.000196. This growth of 185% was accompanied by increased trading volume and a market capitalization of $1 billion, instilling investor confidence in the asset. Maintaining its position above $0.00018 could lead to a further 10% increase to resistance points at $0.00021 and $0.00028.
However, it is important to note that sustaining rapid growth requires fundamental development or favorable news. Without these factors, investors should exercise caution due to potential pullbacks. In such cases, the 50% Fibonacci Retracement level can serve as a correction point to maintain a bullish perspective.
LUNC vs BTC Performance
Both Bitcoin and Terra Classic coin have exhibited bullish trends over the past three months. However, LUNC has outperformed BTC, nearly doubling its value in recent weeks. While Bitcoin has demonstrated a more steady increase, the LUNC price has shown strong bullish momentum with a daily RSI of 89%. The ADX suggests a potential need for a minor pullback as the bullish momentum wanes.
Hot Take: Terra Classic’s Impressive Growth Potential
Terra Classic (LUNC) has experienced significant growth in recent weeks, surpassing key resistance levels and demonstrating strong bullish momentum. With the potential for a further 10% increase and support at the 20-day EMA, LUNC could continue to outperform BTC. However, caution is advised as sustaining such rapid growth may require fundamental development or positive news. Investors should monitor for potential pullbacks and use the 50% Fibonacci Retracement level as a correction point. Overall, Terra Classic shows promising growth potential in the crypto market.
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