Stablecoin

Terra Classic

when

Terra

Raise

<img width="1200" height="675" src="https://coingape.com/wp-content/uploads/2023/12/lunc-1-1-e1707935040949.jpg" class="attachment-full size-full wp-post-image" alt="LUNC Price Analysis" decoding="async" style="float:right; margin:0 0 10px 10px;">
Amid the waning bullish momentum, the crypto market is witnessing high volatility which triggered a consolidation phase in the majority of major coins. Thus, the <a href="https://coingape.com/price/terra-luna-classic/">Terra Classic price</a> stalled its recovery at $0.000137 resistance, projecting an early sign of bearish reversal. Will the LUNC price $0.0001 loss again? 
Also Read: <a href="https://coingape.com/breaking-terra-luna-proposes-deep-stablecoin-cosmos-liquidity-ustc-price-up-38/">Terra Luna Proposes Establishing Deep Stablecoin &amp; Cosmos Liquidity, USTC Price Up 38%</a> 
<h2 id="b-bullish-pattern-hints-lunc-price-to-prolong-recovery-b">Bullish Pattern Hints LUNC Price to Prolong Recovery&nbsp;</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/r/rAiIcFtW.png" alt="BINANCE:LUNCUSDT Chart " width="1946" height="937">
 <figcaption class="wp-caption-text">
 LUNC Price| Tradingview
 </figcaption>
</figure> 
The <a href="https://coingape.com/terra-luna-classic-lunc-community-selects-certik-for-secure-l1-developments/">LUNC</a> coin picked up sufficient recovery momentum in February when the price rebounded from the bottom support of $0.0009185. The positive upswing surged the altcoin 53.6% in two weeks to hit a high of $0.000137. 
This recovery backed by increasing volume and occasional pullback reflects sustainable growth. However, with the leading cryptocurrency <a href="https://coingape.com/bitcoin-vm-enables-quick-transfer-of-ethereum-dapps-to-bitcoin-network/">Bitcoin</a> struggling to surpass the $52000 barrier, the altcoins sparked a potential of a fresh correction trend. 
<blockquote>
 With an intraday 0.36% loss, the <a href="https://coingape.com/terra-luna-classic-tax2gas-proposal-sparks-lunc-and-ustc-revival-to-1/">LUNC price</a> showed a long rejection candle at the $0.000137 resistance. If the overhead supply pressure persists, the sellers may drive up to 18% correction to find suitable support at $0.000116.
</blockquote> 
An analysis of the daily time frame chart, a potential way to develop a well-known reversal pattern called the inverted head and shoulder pattern. This chart setup represents a clear transition from a downturn to an uptrend pattern. 
Thus, if the broader trend remains bullish a retracement to $0.000122 or $0.00011 can offer a suitable pullback opportunity to potential traders. The buyers looking for a safe entry opportunity must wait for a breakout above this $0.000137 resistance to complete the chart formation. 
This potential breakout would intensify the buying momentum and may drive the prevailing recovery to $0.000184. 
Also Read: <a href="https://coingape.com/terra-classic-lunc-set-to-raise-minimum-initial-deposit-to-curb-spam-proposals/">Terra Classic (LUNC) Set to Raise Minimum Initial Deposit to Curb Spam Proposals</a> 
<h2 id="b-technical-indicator-b">Technical Indicator</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Average Directional Index: The ADX slope at 32% reflects the buyers may hit exhaustion soon and need a pullback to recuperate the bullish momentum.</li> 
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: The daily <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMAs</a>(20, 50, 100, and 200) reflect the market sentiment is back on recovery sentiment.</li> 
</ul> 
Related Article: <a href="https://coingape.com/crypto-hacker-transfers-stolen-ethereum-after-26-mln-btc-eth-exploit/">Crypto Hacker Transfers Stolen Ethereum After $26 Mln BTC &amp; ETH Exploit</a> 
The post <a href="https://coingape.com/markets/lunc-price-analysis-hints-last-pullback-before-a-leap-to-0-00018/">LUNC Price Analysis Hints Last Pullback Before a Leap to $0.00018</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

LUNC Price Analysis Hints Last Pullback Before a Leap to $0.00018

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