Stablecoin

Terra Classic

when

Terra

Raise

<img width="1200" height="675" src="https://coingape.com/wp-content/uploads/2023/12/lunc-1-1-e1707935040949.jpg" class="attachment-full size-full wp-post-image" alt="LUNC Price Analysis" decoding="async" style="float:right; margin:0 0 10px 10px;">
Amid the waning bullish momentum, the crypto market is witnessing high volatility which triggered a consolidation phase in the majority of major coins. Thus, the <a href="https://coingape.com/price/terra-luna-classic/">Terra Classic price</a> stalled its recovery at $0.000137 resistance, projecting an early sign of bearish reversal. Will the LUNC price $0.0001 loss again? 
Also Read: <a href="https://coingape.com/breaking-terra-luna-proposes-deep-stablecoin-cosmos-liquidity-ustc-price-up-38/">Terra Luna Proposes Establishing Deep Stablecoin &amp; Cosmos Liquidity, USTC Price Up 38%</a> 
<h2 id="b-bullish-pattern-hints-lunc-price-to-prolong-recovery-b">Bullish Pattern Hints LUNC Price to Prolong Recovery&nbsp;</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/r/rAiIcFtW.png" alt="BINANCE:LUNCUSDT Chart " width="1946" height="937">
 <figcaption class="wp-caption-text">
 LUNC Price| Tradingview
 </figcaption>
</figure> 
The <a href="https://coingape.com/terra-luna-classic-lunc-community-selects-certik-for-secure-l1-developments/">LUNC</a> coin picked up sufficient recovery momentum in February when the price rebounded from the bottom support of $0.0009185. The positive upswing surged the altcoin 53.6% in two weeks to hit a high of $0.000137. 
This recovery backed by increasing volume and occasional pullback reflects sustainable growth. However, with the leading cryptocurrency <a href="https://coingape.com/bitcoin-vm-enables-quick-transfer-of-ethereum-dapps-to-bitcoin-network/">Bitcoin</a> struggling to surpass the $52000 barrier, the altcoins sparked a potential of a fresh correction trend. 
<blockquote>
 With an intraday 0.36% loss, the <a href="https://coingape.com/terra-luna-classic-tax2gas-proposal-sparks-lunc-and-ustc-revival-to-1/">LUNC price</a> showed a long rejection candle at the $0.000137 resistance. If the overhead supply pressure persists, the sellers may drive up to 18% correction to find suitable support at $0.000116.
</blockquote> 
An analysis of the daily time frame chart, a potential way to develop a well-known reversal pattern called the inverted head and shoulder pattern. This chart setup represents a clear transition from a downturn to an uptrend pattern. 
Thus, if the broader trend remains bullish a retracement to $0.000122 or $0.00011 can offer a suitable pullback opportunity to potential traders. The buyers looking for a safe entry opportunity must wait for a breakout above this $0.000137 resistance to complete the chart formation. 
This potential breakout would intensify the buying momentum and may drive the prevailing recovery to $0.000184. 
Also Read: <a href="https://coingape.com/terra-classic-lunc-set-to-raise-minimum-initial-deposit-to-curb-spam-proposals/">Terra Classic (LUNC) Set to Raise Minimum Initial Deposit to Curb Spam Proposals</a> 
<h2 id="b-technical-indicator-b">Technical Indicator</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Average Directional Index: The ADX slope at 32% reflects the buyers may hit exhaustion soon and need a pullback to recuperate the bullish momentum.</li> 
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: The daily <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMAs</a>(20, 50, 100, and 200) reflect the market sentiment is back on recovery sentiment.</li> 
</ul> 
Related Article: <a href="https://coingape.com/crypto-hacker-transfers-stolen-ethereum-after-26-mln-btc-eth-exploit/">Crypto Hacker Transfers Stolen Ethereum After $26 Mln BTC &amp; ETH Exploit</a> 
The post <a href="https://coingape.com/markets/lunc-price-analysis-hints-last-pullback-before-a-leap-to-0-00018/">LUNC Price Analysis Hints Last Pullback Before a Leap to $0.00018</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

LUNC Price Analysis Hints Last Pullback Before a Leap to $0.00018

목차

Coingape News Media

2024년 2월 19일에 게재된 다른 기사

Binance to Pull Back Support for Leveraged Tokens in April

XProger Leads Tomb Raider Remastered Trilogy Development

Grayscale’s GBTC Outflows Slow, Analysts Caution on Further Decline

Bitget Token (BGB) Surges to New All-Time High of $1.05, Reflecting Market Confidence

New Leadership at Crystal Blockchain Announced

Crypto Expert Ali Martinez Predicts Solana To $113, TD Cowen Predicts Ethereum ETF Approval, Kang...

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!