Convergence

Token

Rally

Terra

The post <a href="https://coinpedia.org/price-analysis/terra-lunc-rally-seems-fading-away-whats-next-for-lunc-token-this-week/" rel="noopener noreferrer nofollow">Terra LUNC Rally Seems Fading Away! What’s Next For LUNC Token This Week?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The Terra LUNC price continues to trade in the red, indicating a strong bearish influence in the crypto space. Further, the Terra token has lost over 11% within the past 24 hours, and over 26% over the past week.
The <a href="https://coinpedia.org/price-prediction/terra-classic-lunc-price-prediction/" rel="noopener noreferrer nofollow">LUNC price</a> traded in a closed range between $0.0001327 and $0.0001457 for a period, following which the market lost momentum and the price recorded a correction of over 19% in valuation. After this, the price traded sideways in a closed range between $0.00011774 and $0.0001327 for a while.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/Rpn6fAsEC0_itz8nUOTWQhbSX4P0miSzlJa7u6GL3ZO6M4Qp5aTon8YlrcBjR0mF9Uuyc_yawT3M_DJIsXj6e7FHJq8a2k2BFujgYR4HAoY-TGlAWurHQ3JQmp7mFk5mzVFdV4_siwAzejp_5ZRMSq0" alt="LUNC Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: LUNC/USDT
 </figcaption>
</figure>
The market lost momentum, resulting in the price breaking down its support level, but the bulls held the price strong and the price experienced a bounce back within the range.
After this, the price constantly traded in the range for a brief period, indicating a weak buying and selling pressure in the market. As the market lost momentum, the price recorded a bearish move and broke down the support level.
The price continued to trade with a bearish influence and recorded a correction of over 15%. Currently, the LUNC price is on the verge of testing its support level of $0.000090, of which the outcome is unpredictable.
<h2 class="wp-block-heading" id="h-will-lunc-price-rise-back-up">Will LUNC Price Rise Back Up?</h2>
The Moving Average Convergence Divergence (MACD) displays a rising red histogram, indicating increased selling pressure in the market. Moreover, the averages show a constant decline in the chart, suggesting a bearish influence in the market.
If the market holds the price above the support level of $0.0000900, the price will test its resistance level of $0.00009970. Further, if the bulls hold the price at that level, it will set the stage for the LUNC price to attempt to test its upper resistance level of $0.0001177 in the coming time.
Negatively, if the token breaks down its support level, the Terra price will fall to test its lower support level of $0.00007965. Moreover, if the bears continue to hold power, it will plunge and prepare to test its support level of $0.00006931 by the weekend.

Terra LUNC Rally Seems Fading Away! What’s Next For LUNC Token This Week?

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