šTerra Classic Price Prediction: Will Market Uncertainty Push $LUNC Below $0.0001?
Terra Classic Price Prediction: The LUNC price needs a breakout beyond this chart pattern to trigger a directional rally.
šTerra Classic Price Prediction: Over a month, the Terra Classic price has witnessed a steep correction, projecting a V-top reversal from $0.00028. The retracement has plunged the prices by 55% to trade at $0.000128 currently. With the current uncertainty in the market regarding the approval of spot Bitcoin ETFs, the sellers may prolong this downfall and tumble the LUNC value. Is it safe to hold?
šWill LUNC Price Lose $0.0001?
The falling channel pattern governs the current correction trend/
A rising trendline prevents the LUNC price from major correction.
The intraday trading volume in the LUNC coin is $193.5 Million, indicating a 174% gain.
š„Amid the recent downturn in theĀ cryptocurrency market, Terra Classic (LUNC) has seen a significant correction, dropping to $0.0001. This decline retests the 78.6% Fibonacci retracement level, signaling a weakening bullish momentum as the gains from the rally in November-December 2023 have been largely eroded by selling pressure.
šThe technical analysis of LUNC reveals two critical factors influencing its price trajectory: an ascending trendline (colored blue) and a falling channel pattern. Over the last few months, LUNC has consistently found dynamic support along this trendline.
Conversely, the falling channel pattern currently guiding the correction suggests that a positive shift in broader market sentimentāsuch as the potential approval of spot Bitcoin ETFs by the US SECācould substantially boost LUNC.
A breakout above the overhead trendline would indicate the end of the correction phase, potentially igniting buyer interest and driving the price to higher levels, with targets at $0.000139, $0.00016, and possibly higher.
