The Terra Classic (LUNC) bulls have been on a triumphant run since the commencement of trading, propelling prices from an intra-day low of $0.00008374 to an impressive intra-day high of $0.00009713. Although the bulls could not surpass the 24-hour high, LUNC was trading at $0.00009007, reflecting a notable 7.12% increase at the time of publication.
If the bullish momentum surpasses the 24-hour high of $0.00009713, keeping a close eye on the psychological barrier of $0.0001 as the next significant milestone is imperative. A successful breakthrough of this level could attract more buyers and propel LUNC to unprecedented heights. It is crucial to remain vigilant and monitor the market closely during this critical period.
If bears take the reins and steer the price below the intraday low of $0.00008374, it is prudent to keep a watchful eye on the next support level at approximately $0.00008.
During the recent bullish market, LUNC experienced a notable surge in capitalization and 24-hour trading volume. Impressively, the former increased by 7.05%, while the latter skyrocketed by an impressive 74.12%. As a result, LUNC’s market capitalization reached an impressive $530,358,009, while its 24-hour trading volume hit an impressive $92,153,836. These figures are a testament to the strength and resilience of LUNC in the face of market volatility, and they bode well for the prospects of this promising asset.
The Keltner Channel bands on the LUNC/USD price chart are exhibiting a noticeable bulge, signaling a rise in market volatility.
The present LUNC price trend, characterized by its middle and lower bars, has surged to $0.00009756, $0.00009012, and $0.00008271, signaling a notable increase in volatility. This suggests that the market is becoming more active, giving traders a greater chance to capitalize on price fluctuations.
LUNC has received yet another promising signal as the MACD line has crossed its signal line from below, boasting a value of -0.00000231. This shift in momentum indicates a shift in favor of buyers, potentially leading to an increase in upside potential. Additionally, the emergence of green bars in the positive zone of the histogram further supports the notion that buyers are taking control of the market. These positive indicators bode well for LUNC’s prospects.
The 100-day moving average, depicted in yellow, has surpassed the 20-day moving average, represented by blue, with a reading of 0.00008919. This development signals a robust bullish trend in LUNC, steadily gaining momentum.
The source of this positive outlook can be attributed to the upward trajectory of the long-term trend, potentially indicating a shift in momentum from a negative to a positive outlook.
Despite the Relative Strength Index currently standing at 46.33, indicating significant selling pressure in the LUNC market, there is still hope for bullish momentum. If the RSI manages to surpass the 50 mark, it will gain traction and attract more buyers to the market. It’s important to monitor these indicators to make informed investment decisions closely.
The upward trend of LUNC is showing remarkable resilience and has the potential to surpass the significant threshold of $0.0001, drawing in a larger pool of investors, provided that the bullish momentum persists without any signs of exhaustion.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
