Terra Classic

Bitcoin

Terra

<img width="1200" height="585" src="https://coingape.com/wp-content/uploads/2024/03/image-e1710351894400.jpg" class="attachment-full size-full wp-post-image" alt="Terra Classic Price" decoding="async" style="float:right; margin:0 0 10px 10px;">
Terra Classic Price: The <a href="https://coingape.com/binance-burns-4-billion-terra-luna-classic-lunc-tokens/">Terra Classic (LUNC)</a> recovery trend fails as the recent reversal from the dynamic resistance of the 20-day EMA aligns with the broader market sell-off. However, with the LUNC price sustaining above the 200-day EMA and the ascending support trendline, the altcoin projects a potential bounce back in the near future. 
With this possibility of a bullish reversal, will the LUNC prices surpass the $0.00020 mark with the <a href="https://coingape.com/proshares-introduces-first-bitcoin-etf-to-target-2x-daily-btc-return/">Bitcoin</a> Halving around the corner?&nbsp; 
Also Read: <a href="https://coingape.com/markets/terra-classic-price-forecast-will-dapp-integration-fuel-lunc-breakthrough-to-new-highs/">Terra Classic Price Forecast: Will dApp Integration Fuel LUNC Breakthrough to New Highs?</a> 
<h2 id="b-will-lunc-price-sustain-above-0-0001-b">Will LUNC Price Sustain Above $0.0001?</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/4/4gc3k7Jy.png" alt="BINANCE:LUNCUSDT Chart " width="1946" height="937">
 <figcaption class="wp-caption-text">
 Terra Classic Price| Traingview
 </figcaption>
</figure> 
With the bearish phase in motion, the negative cycle in the <a href="https://coingape.com/price/terra-luna-classic/">Terra Classic price</a> trend grows intense and tests the 200-day EMA. The downfall undermines the recent bounce back from the said dynamic support last month.&nbsp; 
<blockquote>
 The recent negative turnaround accounts for a deterioration of 20% in the LUNC token’s market value. Further, the recent crash aligns with the overall market fall and the supply inflow at the 20-day EMA.
</blockquote> 
However, the sell-off wave lacks trading volume support as it stays under the 20-day average line. Currently, the LUNC price trades at $0.000013785, which leads to a Doji formation at the 200-day EMA, teasing a morning star.&nbsp; 
Further, in the bigger picture, the altcoin shows a triangle pattern formation and currently rests at the baseline. Optimistically, the trend awaits a bullish reversal within the pattern. Hence, the uptrend could reach the $0.000020 psychological mark shortly.&nbsp; 
On the flip side, the breakdown of the 200-day EMA will test the baseline at $0.0001. 
Related: <a href="https://coingape.com/ark-invests-cathie-wood-labels-bitcoin-btc-a-flight-to-safety-asset/">Ark Invest’s Cathie Wood Labels Bitcoin (BTC) A “Flight To Safety” Asset</a> 
<h2 id="b-technical-indicator-b">Technical Indicator</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Relative Strength Index: Despite the recent crash, the <a href="https://coingape.com/glossary/rsi-relative-strength-index/">RSI</a> line shows a bullish divergence in the last two dips, bolstering the reversal possibility.&nbsp;</li> 
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: The 20- and 50-day EMA nearing a bearish crossover could intensify the bearish momentum in the LUNC price.</li> 
</ul> 
The post <a href="https://coingape.com/markets/terra-classic-price-faces-a-15-decline-market-correction/">Terra Classic Price Faces a 15% Decline Amid Broad Market Correction</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Terra Classic Price Faces a 15% Decline Amid Broad Market Correction

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