Terra Classic (LUNC) is making a strong push for a bull run. The cryptocurrency has been trading just below the 200-day Exponential Moving Average (EMA), but consistently taking resistance near a supply zone. The LUNC price has experienced a bullish double-bottom pattern near a demand zone of $0.000115. This movement signals a potential price surge should the LUNC price break through existing resistance levels.

Since early November, the LUNC price has been under bearish influence, having difficulty crossing the 200 and 100 EMA. Support from the $0.0001300 benchmark, however, helped provide buyers’ support and enabled the LUNC token to make a bullish three-white soldier candlestick pattern. This made for a 61 percent rise in price, crossing above the 200 EMA before being met again with bearish correction. Despite the bullish incline, buyers have not been able to sustain the price above the 200 EMA. As a result, the LUNC price has experienced a 28 percent downturn.

A closer analysis in the 4-hour timeframe shows a consistent support level at $0.000115, close to both the 200 and 100 EMA. This support level is strengthening the double bottom pattern, and could foreshadow a potential breakout.

The Relative Strength Index (RSI) is currently trading around 46.38 points close to the center line. A higher high and higher low pattern is a bullish indication, while the Relative Strength Average (RSA) is displaying wide fluctuations near 50.49 points. The existing support and resistance levels for LUNC are $0.000115 and $0.000126 respectively.

Overall, the LUNC price appears to be entering a bullish phase. INVEST Financial Group does not provide financial or investment advice, and past performance is not indicative of future results. Investing in crypto assets carries a risk of financial loss and should be considered only by those investors who can bear such losses.



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