{"id":548664,"date":"2023-08-24T14:05:33","date_gmt":"2023-08-24T14:05:33","guid":{"rendered":"https:\/\/uniquehot.com\/?p=548664"},"modified":"2023-08-24T12:50:12","modified_gmt":"2023-08-24T12:50:12","slug":"terra-luna-classic-near-term-advance","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/terra-luna-classic-near-term-advance\/","title":{"rendered":"Terra Luna Classic Price Near-Term Advance – Will LUNC Climb 25%?"},"content":{"rendered":"
Terra Luna Classic (LUNC) has embarked on a six-month journey marked by a consistent downtrend, largely influenced by the gravitational pull of a so-called descending channel pattern. This pattern, characterized by successive lower highs and lows, mirrors an active market sentiment favoring sales during attempts at bullish rebounds.<\/span><\/p>\n Mid-August proved to be a pivotal juncture for LUNC as aggressive selling surged, triggering a precipitous plunge from $0.0000658 to $0.0000523. This swift and significant 34% drop led to a critical retest of the support trendline intrinsic to the falling channel pattern.\u00a0<\/span><\/p>\n Interestingly, the coin’s value exhibited resilience through multiple instances of dynamic rebounds, translating to intermittent bullish bounces in its ongoing recovery phase.<\/span><\/p>\n Delving into the <\/span>price analysis<\/span><\/a>, the daily chart unfolded a compelling narrative with a long-tailed rejection manifesting at the lower boundary of the channel pattern, commencing on August 17. This occurrence effectively signaled an undercurrent of demand pressure. Capitalizing on this support, the price rebounded vigorously, propelling it upwards by 22%, currently resting at $0.0000638.<\/span><\/p>\n <\/p>\n Should LUNC’s price sustain its position above $0.6 in the coming days, a beacon of hope emerges for buyers to potentially spearhead a rally of up to 25%, culminating in a rendezvous with the overhead trendline of the channel. Yet, the market’s true affirmation of a trend reversal hinges upon a more decisive signal: a bullish breakout from the resistance trendline.<\/span><\/p>\nTerra Luna Classic Chart Hints Signs Of Resurgence<\/strong><\/h2>\n
Source: TradingView<\/a><\/pre>\n