The eyes of the cryptocurrency market are once again on Terra Luna Classic (LUNC). The once-popular coin is expected to see a remarkable breakout, with a potential gain of up to 1,100%. Currently, the price of LUNC is stuck at $0.0001115, and traders are waiting with bated breath to see if it can break through key resistance levels.
LUNC: Potential target is as high as $0.00139122!
The analysis pointed out that if LUNC's price can seize favorable conditions, it may hit three major target levels of $0.00058046, $0.00098584 and $0.00139122. This prediction is based on a comprehensive analysis of its recent consolidation pattern and technical signals.
Despite a 2.02% price drop in the past 24 hours, LUNC's seven-day gain remains at 2.20%. According to the data, its market value has reached $614 million and its circulating supply is 5.5 trillion.
Technical analysis: consolidation before breakthrough and signal divergence
The current LUNC price chart shows clear signs of consolidation, which may accumulate strength for the next up move. Symmetrical patterns and higher lows mentioned by analysts usually indicate trend continuation. However, the signals released by technical indicators remain to be seen:
RSI close to neutral zone
The relative strength index (RSI) is 43.49, close to neutral levels. This suggests that the market is temporarily in a wait-and-see mode, but also means the possibility of stabilization.MACD shows weakening momentum
MACD (Mainstream Convergence Divergence) shows a bearish crossover, and the current value is-0.0000087, below the signal line-0.00000362This suggests that the upward momentum is relatively limited in the short term.Key support levels need to be maintained
LUNC's key support level is located at$0.00009883If the price can maintain this position, it may lay the foundation for further rebound.
Market dynamics: Trading activity rises, sentiment cautiously optimistic
In the derivatives market, LUNC's 24-hour trading volume increased by 15.16% to $8.08 million, reflecting increased market interest. However, open interest fell by 1.94% to $12.76 million, indicating that some traders chose to close their positions and wait and see amid price fluctuations.
Long/Short Ratio:
Binance shows 1.0125, with long and short positions almost balanced.
OKX’s ratio is 1.6, with trader sentiment being more bullish.
Clearing data：
Total liquidation in the past 24 hours is$242,200, of which long liquidation accounts for$220,100This suggests that bullish traders are facing more pressure amid volatility. However, overall liquidations are low, suggesting that leverage activity in the market is relatively limited and volatility risk is reduced.
Summary: When will LUNC explode?
LUNC is currently at a critical juncture, and the consolidation pattern and cautiously optimistic market sentiment open up the possibility for future gains. However, in order to achieve a breakthrough in the short term, it is necessary to stabilize the support level and accumulate sufficient momentum. If the breakthrough is successful, the price is expected to hit the high of $0.00139122; on the contrary, if it falls below the support, it may test the low again.
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