Leading crypto asset Terra Classic It has jumped over 11% in the last 24 hours. In this context, it is possible to say that this rise has reduced the downward feeling that dominates the general market.
LINC price traded in a closed range between $0.0001327 and $0.0001467 for a while. But then the bulls lost momentum, causing prices to fall. LUNC price recorded a correction of approximately 20% in valuation.
Following this, the price traded sideways between $0.00011774 and $0.00013273 for over two weeks. This is also on the market altcoin It pointed out a weak buying and selling pressure for As market volatility increased, the LUNC token broke below the support level, indicating an increase in bear strength.
After trading sideways for a while, LUNC token recorded another loss of over 20%. Following this, the price traded in a closed range between $0.00008950 and $0.0001024 for over a week. Recently, the bulls regained strength and broke out of the resistance level.
Since then, the price has been trading in a consolidated range between $0.0001024 and $0.00011774. In this context, it is on the verge of testing the resistance level, the outcome of which is uncertain.
Will there be a LUNC Price Increase?
The Moving Average Convergence Divergence (MACD) shows a steady green histogram, indicating bullish strength in the market. Additionally, the averages have risen sharply, indicating that the price will continue to appreciate in the coming period.
The bulls are likely to push the price above the $0.0001177 resistance level. If this happens, LUNC price will gain momentum and make a run to test the upper resistance level at $0.0001327. Holding the price at this level will pave the way for LUNC price to attempt to test the $0.0001467 resistance level next week.
On the other hand, if the market loses momentum, LUNC price will decline and test the $0.0001024 support level. It is also possible that bears will continue to dominate the market. In this case, it will decline in the coming days and prepare to test the lower support level at $0.00008950.
You can access current market movements here.
