LUNC Price Analysis: On The Cusp Of On 19% Move
As the crypto market flipped green on Friday just hours before Bitcoin halves, Terra Classic signaled a potential 19% breakout due to an ascending triangle on the four-hour chart.
The ascending triangle is a reversal pattern that allows for prices to consolidate after a major downturn in the market. Investors use this period to reaccumulate more tokens ahead of the anticipated breakout.
Traders watch out for movement above the horizontal resistance at the x-axis. In the case of LUNC, this resistance level lies at $0.000107, slightly above the 50-day Exponential Moving Average (EMA) (the line in red).
Buy orders should be placed slightly above the hurdle, with Terra Classic expected to complete at 19% move to $.0001282.
