Terra Classic

Bitcoin

Terra

Time

<img width="1200" height="681" src="https://coingape.com/wp-content/uploads/2023/12/DRsXeaWR-e1701861619959.png" class="attachment-full size-full wp-post-image" alt="LUNC price" decoding="async" style="float:right; margin:0 0 10px 10px;">
The ongoing recovery trend in <a href="https://coingape.com/blog/will-lunc-price-hit-1/">Terra Classic coin price</a> witnessed a sharp reversal from the $0.00028 High. In just two days, the coin value has plunged 26.6% to reach the current trading price of $0.000206. As the broader market sentiment remains bullish, this retracement could possibly be a minor correction to recuperate the exhausted bullish momentum, should you enter this dip? 
Also Read: <a href="https://coingape.com/bitmex-announces-terra-classic-lunc-perpetual-contract-listing-after-ustc/">BitMEX Launches Terra Classic (LUNC) Perpetual Contract Following Binance</a> 
<h2 id="b-key-levels-to-watch-as-lunc-enters-correction-mode-b">Key Levels to Watch as LUNC Enters Correction Mode</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">A bullish crossover between the 100-and-200-day EMA could reinforce the long-term recovery sentiment in the market</li> 
 <li style="font-weight: 400;" aria-level="1">The falling LUNC price could find demand pressure at the $0.000195 and $0.000167 support levels.</li> 
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume in the LUNC coin is $575 Million, indicating a 41% loss.</li> 
</ul> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/d/DRsXeaWR.png" alt="Luna Classic TradingView Chart" width="1946" height="1104">
 <figcaption class="wp-caption-text">
 Luna Classic | TradingView Chart&nbsp;
 </figcaption>
</figure> 
Over the past two weeks, the <a href="https://coingape.com/blog/will-lunc-price-hit-1/">Terra Classic price</a> has emerged as one of the standout performers in the crypto market. Starting from $0.0000685 in late November, the coin soared to a 13-month high of $0.00028, achieving a remarkable 305% growth.&nbsp; 
However, it has since retreated from this peak to reach $0.000208, currently seeking support near the 38.2% <a href="https://coingape.com/glossary/fibonacci-retracement/">Fibonacci Retracement Level</a>. Such corrections are common following strong rallies and are often seen as a healthy reset for further upward movement.&nbsp; 
<blockquote>
 Thus, the LUNC holders should monitor the $0.000195 and $0.000167 support levels, corresponding to the 38.2% and 50% Fibonacci retracement levels, respectively. Maintaining these supports could signal a possible bounce back and continuation of the recovery trend.&nbsp;
</blockquote> 
A bullish breakout above the $0.00028 resistance could extend the rally by another 33% to reach approximately $0.0037 in the following month.&nbsp; 
Conversely, a fall below the 50% Fibonacci level might indicate a weakening in the buyer’s conviction. 
<h2 id="b-lunc-vs-btc-performance-b">LUNC vs BTC Performance</h2> 
<figure id="attachment_168013" aria-describedby="caption-attachment-168013" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-168013 size-full" src="https://coingape.com/wp-content/uploads/2023/12/image_2023-12-06_16-47-37-e1701861741957.png" alt="Terra Classic Vs Bitcoin Price" width="1200" height="675">
 <figcaption id="caption-attachment-168013" class="wp-caption-text">
 Source: Coingape| Terra Classic Vs Bitcoin Price
 </figcaption>
</figure> 
Comparing Terra Classic performance over the last three months with Bitcoin, LUNC has notably outperformed BTC, particularly gaining additional momentum in late November. While <a href="https://coingape.com/price/bitcoin/">Bitcoin price</a> has shown steady, gradual growth, this altcoin’s more volatile pattern may appeal more to aggressive traders looking for dip-buying opportunities, as it has exhibited a pattern of retracing between 50-61.8% before its next upward move. 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Average Directional Index: The daily ADX slope at a high of 55%, accentuates the exhausted position and need for a minor pullback.&nbsp;</li> 
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: The rising 20-day <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMA</a> slope could offer additional support amid the current pullback.</li> 
</ul> 
The post <a rel="nofollow" href="https://coingape.com/markets/is-it-the-best-time-to-enter-luna-classiclunc/">Is it the Best Time to Enter Luna Classic(LUNC)?</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Is it the Best Time to Enter Luna Classic(LUNC)?

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