Terra Classic ($LUNC ) Price Poised for a Bullish Breakout
Terra Classic ($LUNC ) is currently trading at $0.0001620, reflecting an impressive 193% surge from its lowest point this year. Technical indicators suggest that the cryptocurrency could sustain its upward trajectory in the coming weeks, as it is forming multiple bullish patterns.
On November 18, LUNC's price action triggered a golden cross—a significant technical signal—where the 50-day and 200-day Exponential Moving Averages (EMA) flipped positions. Historically, this pattern has been a reliable indicator of strong bullish momentum. For instance, in October last year, when Terra Classic formed a golden cross at $0.00013, it soared to a year-to-date high of $0.0002795, marking a remarkable 125% increase.
Formation of a Cup-and-Handle (C&H) Pattern
Further adding to the bullish narrative is the early formation of a cup-and-handle (C&H) pattern. This classic technical pattern, characterized by a rounded bottom followed by a horizontal consolidation line, is widely regarded as a bullish indicator. In this case, the pattern’s upper boundary is at $0.0002795, implying a potential upside of approximately 60% if the pattern completes. To confirm this move, LUNC would need to break through a critical resistance level at $0.0002546, which also represents its March high.
Bullish Flag Formation
Additionally, Terra Classic appears to be forming a bullish flag or pennant—a continuation pattern characterized by a steep vertical rise followed by a period of consolidation. A breakout above the recent high of $0.0001794 would further validate the bullish trend and signal a potential continuation toward higher levels.
Key Levels to Watch
Immediate Resistance: $0.0001794 (recent weekly high)
Major Resistance: $0.0002546 (March high)
Target: $0.0002795 (year-to-date high)
If these levels are breached, LUNC could see significant upside potential, driven by strong technical patterns and renewed bullish sentiment.