Terra Classic (LUNC) price has been making unexpected rises for the last few days, rising up to 100% in the last 10 days. While the uptrend continues to gain momentum, it shows almost no signs of retracement. Expectations are that the price will exceed $0.00015.
Koinfinans.com As we reported, LUNC price action has managed to display seven of the eight bullish candles over the last eight trading sessions to exhibit the appearance known as large engulfing candles. It continues to trend quite positive on the daily chart, with increased demand supporting the breakout rally.
Currently, the ongoing recovery rally is approaching the overhead resistance at $0.00015 and is aligned with a bullish breakout. Moreover, Terra Classic Improving market sentiment supports the possibility of a breakout.
Currently, the altcoin is trading at $0.000138946 following last night’s 17.50% jump, reflecting an explosion in buying pressure.
RSI indicator: The daily RSI line reflects a strong bullish trend in motion as it enters the overbought territory. Moreover, the indicator does not show any divergence signals while the 14-day SMA mimics the trend.
EMAs: With the bullish effect on the daily chart, the 50D and 200D EMA are preparing for a golden crossover. This bullish event will signal a trend reversal and will increase the entry of bullish players.