Crypto The market has witnessed increased volatility since the second week of December as Bitcoin price rebounded from $44,500. However, this uncertainty caused great damage to the LUNC price, falling from $0.00028 to $0.000163, causing a loss of 41%. However, the corrective trend stalled at $0.00016, supporting an opportunity to regain higher ground.
Is New Demand Pressure Supported by $0.00016?
- The combined support of $0.00016 and the 50% FIB offers strong support to buyers.
- A 50% retracement from LUNC price indicates that the dominant bullish trendline is intact
- Intraday trading volume on LUNC coin is $83.5 Million, indicating a loss of 43%.
terra classic (LUNC) is currently exhibiting a correction trend, finding important support at $0.00016 and aligning with the 50% Fibonacci retracement level. For the last five days, the coin has remained above this support level. This indicates an attempt to gain momentum for an upcoming upward move.
What is noteworthy is that the last consolidation phase of the Terra Classic price remained limited within the price limits set by the daily candle on December 13. This positions this candle’s high ($0.000203) and low ($0.000163) as key resistance and support levels respectively. A breakout beyond this price range, altcoin It will provide a clearer indication of the next directional movement for
Koinfinans.com As we reported, an upside breakout above the $0.000203 mark would indicate that the bulls are regaining strength following the correction. This could potentially encourage buyers to target the recent high at $0.00028. A successful breach of this level could trigger an extended rally, possibly reaching as high as $0.00037.
Conversely, if the price breaks below the $0.000163 support level, it could intensify the selling pressure and potentially extend the correction towards the $0.00014 level.
LUNC vs BTC Price Performance
Bitcoin In a comparative analysis with (BTC), both LUNC and BTC have shown upward trends in the last two months. However, Bitcoin price’s gradual and steady growth pattern may be more attractive to breakout traders, suggesting it is a more stable asset for investment. In contrast, rapid growth in LUNC price interspersed with occasional corrections may be more suitable for traders who prefer to implement a pullback strategy by taking advantage of short-term price fluctuations