Terra Classic (LUNC) has seen a slight increase in its 24-hour prices according to CoinMarketCap. At the moment,LUNC’s price sits at $0.000126, a climb of 1,32% against the US Dollar, and greater gains against both Bitcoin (BTC) and Ethereum (ETH), increasing 2,11% and 3.38% respectively.

The altcoin's 4-hour chart displays a pattern of consolidation between the price range of $0.00012469 and $0.00012697. LUNC's price has tried to break out of this channel twice, without success and forcing the coin back towards the same consolidation pattern.

This failed attempts to break out of the price channel has led to the development of a bearish descending triangle, which places the price just above the apex of the triangle. If LUNC fails to break above this level, it is predicted to drop below $0.00012469 in the next 24-48 hours, down to the key support of $0.00012091.

This analysis is based on technical and chart indicators such as Relative Strength Index (RSI) line and RSI Simple Moving Average (RSMA). The RSI line is expected to cross bellow the RSI SMA, which may suggest a further decrease in price over time. It is important to keep in mind that prices of cryptocurrencies are extremely volatile, and any predictions should be done with caution. It is recommended to do your own research and due diligence before making any investments and, in any case, not invest more than you are willing to lose.



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