Can Terra Classic Coin Leverage Market Consolidation For a Price Rally !!

#BinanceLaunchpool #bitcoinhalving #BullorBear #Memecoins #BTC Terra Classic Price: Over the past two weeks, the Terra Classic has witnessed high volatility wavering around the physiological level of $0.0001. The lack of initiation from buyers and sellers is further accelerated by the post-halving consolidation in Bitcoin recently witnessing a dip below $64k. However, the LUNC price sustainability below the 200-day EMA slope is favoring sellers for a prolonged downfall.

On April 13th, the LUNC Price correction gave a decisive breakdown from the support trendline of a 5-month-long triangle pattern. Losing this support along with the 200-day EMA signaled a major weakness in Terra’s classic price to hold value. However, the excitement around Bitcoin Halving triggered a broader market recovery, assisting the LUNC price above $0.0000875 mark.

If the post-halving correction continues to pressure altcoins lower, the Terra Classic coin may plunge to lower support such as $0.000087, followed by $0.0007. A downsloping trendline in the 4-hour chart is leading this correction trend offering trades dynamic resistance to sell on bullish bounces.

Until this resistance is intact, the LUNC price could extend its downward trajectory.

On a contrary note, the investors perceive the current consolidation as an opportunity to remove weak hands from the digital market and stabilize the asset for a higher rally. Thus, the altcoin market along with Bitcoin may witness a sideways action for the coming weeks to months before resuming the prevailing rally.

If the renewed recovery bolsters Terra Classic price to reclaim its 200-year EMA slope, the prior breakdown would be considered a failed drop, allowing buyers to strengthen their grip over this asset.