LUNC Price Chart Levels

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.

Terra Luna Classic Triangle

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

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