LUNC, a cryptocurrency, is currently trading in a bearish trend below all the major key averages including 20, 50, 100 and 200 EMAs. Recently, the price took support from $0.00011600 and is giving some signs of a recovery. After a severe rejection from 100 EMA, the price dropped by 33%. Additionally, it marked its all-time-low at $0.000116. This move helped in forming a bullish double-bottom pattern. Currently, the price is trading near the support level with the oscillators in the demand zone, giving indications for a rally soon.

LUNC price is facing resistance at $0.0001371 and $0.00015482. Additionally, the 200-day EMA is playing a major role in keeping the price bearish with a rejection from the 100 EMA. Again, after a bearish crossover from 20 and 50 EMAs, the coin lost 35% of its value. However, RSI is making a bullish divergence, while trading near the demand zone in consolidation. The RSI line is making a higher high and higher low pattern. The current RSI reading is around 40.85 points and 14 SMA is trending just below this, at 40.10 points.

These details suggest that although the overall trend of LUNC is bearish, the technical indicators indicate that the coin may make a bullish reversal. Investors should exercise caution if they are looking to invest in LUNC as the bear markets have no support and bull markets have no resistance. Moreover, there is always a risk of financial loss in investing or trading crypto assets.



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