The #TerraLunaClassic price chart reveals a clear ascending channel pattern, indicating a gradual uptrend within well-defined support and resistance lines. This trend is bullish as the price is consolidating near the middle of the channel, suggesting a potential upward move to $0.00015
Key Support and Resistance Levels
0.00008400: The lower boundary of the channel is acting as a strong support. This level has held multiple times in the past and offers a good entry point for #traders looking to buy dips.
0.0001500: The upper boundary of the channel is a key resistance zone. This is also near the projected Fibonacci extension target.
The long-term outlook for Terra Luna Classic price remains bullish as long as the price remains within the #AscendingChannel or breaks above it. Targeting the $0.0001500 area provides a good risk-to-reward ratio, with the potential for extended gains if the broader market sentiment turns highly bullish.
If the $LUNC
price falls below the channel ($0.000084), it may signal market weakness, invalidating the current bullish thesis. #LUNCâ may find further support below around $0.000073 and $0.000054.
