Terra Luna Classic (LUNC) could be making headway towards previous key resistance levels back above the $0.0003 price range. At the time of writing this article the price of LUNC is consolidating at $0.000291 and it is vital that this particular support level is held.
Momentum from the LUNC bulls is now on a cool down, and the price has retraced by 22.3% from the price of $0.000373 on the 2nd of October following 5 red daily consecutive candles.
Will Terra Luna Classic pump soon? LUNC is available to purchase on eToro.
Cryptoassets are a highly volatile unregulated investment product.
Terra Luna Classic (LUNC) Crypto Price Prediction
LUNC has now printed 5 daily red consecutive candles on the price charts. Are we finally going to see a bullish reversal and close tomorrow with green?
From a technical analysis perspective Terra Luna Classic is looking rather bearish as it continues to print lower highs on the price charts. These lower price levels could prove to be strong areas for accumulation and dollar cost averaging if LUNC can maintain positive price structure.
The daily relative strength index is reading in at 50.66 which could also suggest that current price levels are much healthier as we are not in a euphoric overbought position fuelled by market greed like when LUNC was trading at $0.00059.
LUNC/USDT – 30 Minute Time Frame.
Currently, Terra Luna Classic (LUNC) is trading in a descending triangle where the price action is printing lower highs and almost horizontal swings at support. It is absolutely vital that LUNC can hold the $0.000291 support level in order to avoid negative continuation to the downside.
A decisive move could shortly occur as the resistance and support trendlines begin to converge. This is where we could expect a volatile breakout to the upside or the downside.
Should the bulls be able to pump the price of LUNC over the next few days, we might see Terra Luna Classic pump up to a previous swing high at roughly $0.000315. This would net an increase of approximately 8.19%.
October is typically a very bullish month for the blockchain markets. As a result we could see bullish momentum for altcoins and Terra Luna Classic may potentially recover back up to $0.000373.
Following the Binance burn, we’ve also seen a huge surge in the rate of LUNC tokens that are being burnt. More volume means more burning and in turn a greater floor price and a higher potential all time high as supply reduces.
Source: Terrarity.io
It could be pragmatic to assume that it is possible for LUNC to achieve a price of $0.001 and beyond in 2022 as the Terra Luna Classic token becomes more scarce and the community builds morale and strength following the great news.
Terra Luna Classic (LUNC) Crypto Price Prediction
Between June and August of 2022 it seemed that Terra Luna Classic was the only crypto that had any potential to pump. Following a recent presale we analyzed known as Tamadoge (which then pursued a 2,000% increase in price) another one has just landed on the crypto markets that could be just as lucrative.
If you’re a keen investor that likes to continue with diversifying your crypto portfolio during a bear market the next 10-100x crypto in my personal opinion could be IMPT Token.
Astonishingly, IMPT Token has already raised $1,289,923 in just 3 days of the presale launch, although this is not surprising as it strives to be the next best impactful carbon offset crypto the blockchain markets has ever seen.
Investing in IMPT allows you to become part of a massive ecosystem that connects socially responsible brands and users who wish to reduce their carbon footprint. IMPT Token will utilize blockchain as a solution to reduce global warming and the surface temperature of the world.
Could the IMPT Token really be the best green crypto for the future?
If you are keen to learn more about IMPT, you can click here.
Related news:
- 13 Best Cryptocurrency to Invest in October 2022
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IMPT - New Eco Friendly Crypto
- Carbon Offsetting Crypto & NFT Project
- Industry Partnerships, Public Team
- Listed on LBank, Uniswap
- Upcoming Listings - Bitmart Dec 28, Gate.io Jan 1st
This article was written for Business 2 Community by Jacob Bury.
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