.The price of Terra Classic is getting faster as it tries to make up for a 3% drop in the last 24 hours. Before going down to 0.0001720, LUNC reached a new high of $0.0001936 in 2023. As long as the support at $0.0001720 stays in place, the price of Terra Classic can push for the uptrend to start again during the American session.
The price rise of Terra Classic has stopped, but it’s not over yet. The technical view on LUNC’s eight-hour time frame chart shows that the leg could grow to $0.00024 in the next few days.
Above the seller congestion at $0.0001831, which is close to the horizontal resistance of the rising triangle and the 100-day Exponential Moving Average (EMA), a positive outcome is most likely (in blue).
As the price settles near the triangle’s peak, bulls start to gain an edge over bears. This causes the price to break through the resistance. So, traders can expect the price of Terra Classic to go up by 30.27 percent, to $0.00024, once the seller congestion at $0001831 is broken.
The breakout target is the same as the distance between the triangle’s widest points above the point where it breaks out.
In the same eight-hour time frame, as the price of Terra Classic rises toward the “overbought” area, the stochastic oscillator confirms the bullish price prediction. When the stochastic line crosses over the trend line that is going down, LUNC will move quickly toward $0.00024.
But it’s hard to show that the positive view is correct on a daily time frame chart, especially since the TD Sequential indicator gives a sell signal. The call to sell LUNC was shown by a green nine-day candlestick, which can be seen in the chart below. This may cause investors to sell their bags soon in the hopes of buying them back at a lower price.
But traders must confirm the signal by checking to see if the high of the sixth and seventh candles in the count is higher than the high of the eighth or ninth bar. On the other hand, bulls need to be ready to deal with the area of supply near $0.00020. If they don’t, drops could speed up toward $0.00012.
Price of a Lunc today:
The current price of Luna Classic is $0.0001655 USD.
Date: January 1, 2019 Price: $0.0001655 USD
Price prediction for Terra Luna Classic
When the price of Terra Classic recovers, people who buy it could make a lot of money if they wait. However, a parabolic rise to $1 in 2023 may not be possible. The value of LUNC has gone up by 4.9% in a week, 11.5% in two weeks, and 23.9% in 30 days, which is more than many other cryptocurrencies on the market.
The large amount of Terra Luna Classic in circulation is the biggest reason why it won’t reach $1. Even with the token burn programme, there are more than 5.9 trillion LUNC in circulation on the protocol, and the total number of LUNC on the network is 6.8 trillion.