Luna Classic Price Prediction: LUNC Surges 7% And Could Breakout to the Upside Soon
A symmetrical triangle has formed on the 4-hour chart for $LUNC . This specific chart pattern suggests that the Luna Classic price may breakout in the next few hours. Should this move be towards the upside, the crypto’s value may attempt a challenge at the strong resistance level at $0.00014915. A break above this threshold could then give the Luna Classic price the foundation needed to potentially rise to as high as $0.0002.
On the other hand, a strong bearish move could lead to LUNC plummeting all the way down to $0.0000999. If sellers decide to continue exerting sell pressure on the cryptocurrency, the altcoin could even retest the subsequent support level at $0.00007930 in the short term.
Technicals Support a Bullish Outlook
Technical indicators suggested that the Luna Classic price may rise in the next 48 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators were flagging bullish.
The MACD line was breaking away above the MACD Signal line. This is a positive technical flag which suggests that the cryptocurrency’s bullish trend may continue. Meanwhile, the RSI was breaking away above its Simple Moving Average (SMA) line. Normally, this is taken as a sign of increasing buyer strength against bears.
