Terra Classic's price experienced a notable reversal on November 27th, plunging sharply from the $0.00012900 level.
This downturn led to a substantial 25.50% decrease over two days, settling at $0.000960.
Interestingly, this correction has given rise to a bullish reversal pattern on the 4-hour timeframe chart, indicating a potential risk of additional decline in the LUNC price.
According to Coingabbar Technical Analysis, Yesterday's bullish rally ended with a complete loss of gains as bears took control.
The daily chart for LUNC price indicates the emergence of a long wick on the day’s candlestick, signaling a bearish reversal.
On the hourly chart, a Head and Shoulders pattern has formed, and the neckline is undergoing a retest.
A breach of the neckline by bears could trigger panic selling, potentially leading to levels around $0.00008300 or $0.00007400.
However, if the pattern is invalidated, the coin might revisit the $0.0001300-$0.0002000 range.
KEY LEVELS :
RESISTANCE LEVEL : $0.00010000-$0.00010500
SUPPORT LEVEL : $0.00009200-$0.00008700
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
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