Burn

Terra Classic

Bitcoin

Million

Terra

<img width="1200" height="681" src="https://coingape.com/wp-content/uploads/2023/12/4SYtyzWX-e1702745843586.png" class="attachment-full size-full wp-post-image" alt="LUNC price" decoding="async" style="float:right; margin:0 0 10px 10px;">
Terra Classic Price Prediction: The crypto market witnessed increasing volatility from the second week of December in tandem with the Bitcoin price reverting from $44500. However, this uncertainty <a href="https://coingape.com/markets/terra-luna-classic-price-prediction-300-pump-40-dump-is-the-worst-yet-to-come/">took a major toll on the LUNC price</a>, dropping from $0.00028 to $0.000163, accounting for a 41% loss. However, the correction trend stalled at $0.00016 supporting projecting an opportunity to reclaim higher ground. 
Also Read: <a href="https://coingape.com/lunc-news-legally-absolved-route-to-burn-800-million-ustc-for-terra-classic-revival/">Terra Classic Validator Proposes Legally Absolved Route To Burn 800 Million USTC</a> 
<h2 id="b-new-demand-pressure-at-0-00016-support-b">New Demand Pressure at $0.00016 Support?</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">The combined support of $0.00016 and 50% FIB offers strong support to buyers.</li> 
 <li style="font-weight: 400;" aria-level="1">A 50% retracement from the LUNC price indicates the prevailing bullish trendline is intact</li> 
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume in the LUNC coin is $83.5 Million, indicating a 43% loss.</li> 
</ul> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/4/4SYtyzWX.png" alt="Terra Classic Price Prediction" width="1946" height="1105">
 <figcaption class="wp-caption-text">
 Terra Classic Price Prediction| TradingView Chart
 </figcaption>
</figure> 
The Terra classic (LUNC) coin is currently exhibiting a correction trend, finding significant support at $0.00016 and aligning with the 50% Fibonacci retracement level. For the past five days, the coin has been sustaining above this support level, indicating an attempt to gather momentum for an upcoming upward movement. 
<blockquote>
 What’s noteworthy is that the recent consolidation phase of the <a href="https://coingape.com/price/terra-luna-classic/">Terra Classic price</a> is confined within the price boundaries set by the daily candle on December 13th. This positions the high ($0.000203) and low ($0.000163) of this candle as key resistance and support levels, respectively. A breakout beyond this price range is likely to provide a clearer indication of the next directional move for the coin.
</blockquote> 
Should there be an upward breakout surpassing the $0.000203 mark, it would suggest that the bulls have regained strength following the correction. This could potentially encourage buyers to aim for the recent swing high of $0.00028. Successfully breaking past this level might trigger an extended rally, possibly reaching up to $0.00037. 
Conversely, if the price falls below the support level of $0.000163, it could intensify selling pressure, potentially extending the correction down to the $0.00014 level. 
<h2 id="b-lunc-vs-btc-price-performance-b">LUNC vs BTC Price Performance</h2> 
<figure id="attachment_169778" aria-describedby="caption-attachment-169778" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-169778 size-full" src="https://coingape.com/wp-content/uploads/2023/12/image_2023-12-16_22-18-59-e1702745720156.png" alt="Terra Classic price vs Bitcoin price" width="1200" height="675">
 <figcaption id="caption-attachment-169778" class="wp-caption-text">
 Source- Terra Classic price vs Bitcoin price
 </figcaption>
</figure> 
In a comparative analysis with Bitcoin (BTC), both LUNC and BTC have shown bullish trends over the last two months. However, the <a href="https://coingape.com/price/bitcoin/">Bitcoin price</a> gradual and steady growth pattern might be more appealing for breakout traders, suggesting a more stable asset for investment. In contrast, the LUNC price rapid growth interspersed with occasional corrections might be more suitable for traders who prefer implementing a pullback strategy, capitalizing on short-term price fluctuations 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Directional Movement Index: &nbsp;A DI+ slope wavering above the DI- slope accentuates the recovery trend is intact.</li> 
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: A bullish crossover from the 100-and-200-day <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMA</a> boasts market sentiment for an uptrend continuation.</li> 
</ul> 
The post <a href="https://coingape.com/markets/terra-classic-price-prediction-as-correction-halts-at-0-00016/">Terra Classic Price Prediction As Correction Halts at $0.00016, Will Uptrend Resume?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Terra Classic Price Prediction As Correction Halts at $0.00016, Will Uptrend Resume?

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