Terra Luna Classic is bullish today and has gained 4.6% in the last 24 hours. In the last week, LUNC has dropped 5%. The token has outperformed the broader cryptocurrency market, showing signs of continuing with this uptrend in the short term.
Terra Classic price analysis
Terra Classic has been making notable gains over the past day as it shows signs of decoupling from the broader cryptocurrency market. In the last 24 hours, LUNC has traded between $0.000173 and $0.000187, showing signs of low volatility.
LUNC has reported trading volumes of more than $159 million in the last 24 hours. The token is currently showing signs of recovering from the significant losses made in the last week after the collapse of the FTX cryptocurrency exchange.
If LUNC can continue with the recent gains, it could continue gaining and possibly test the higher resistance level at $0.0002. if the token breaks past this resistance, it could create the possibility for more gains in the short term.
The Relative Strength Index (RSI) for LUNC is currently at 48, showing that the token is not overbought or oversold. An influx of buyers is yet to hit the market, which could see the token consolidating at the current prices if the selling fails to
If the current trend of LUNC reverses, the token could plunge to the $0.00015 level. If the token fails to hold this support level, more dips could likely be on the way, and LUNC will plunge to the $0.00012 level.
The recent LUNC gains have come out of nowhere, given that not much development is happening within the ecosystem. A few months back, the LUNC community proposed lowering the supply to tame the astronomical drop in price, but this has not worked, as the amount being taken out of supply is low.
Consider buying these new altcoins today
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Dash 2 Trade
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- 3 Reasons Why Terra Classic LUNC Price Could go to $0
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