$LUNC Despite the fact that resilience is not a sign of strength, the Terra Luna Classic price prediction
The fact that LUNC has attempted to maintain its position above $0.00012 over the past few sessions is not an indication of its strength.
This is because Terra Luna Classic price is still unable to break above its 21-day moving average, which has been an important resistance level over the past few weeks.
If it is not possible to break north of this crucial moving average, then the trade bias will continue to be bearish regardless.
Terra Luna Classic price has formed a pennant structure over the past few weeks, suggesting a breakout could be on the horizon.
Terra Luna Classic (LUNC) Price Chart / TradingView is the source of this information
However, due to the opposition of the 21-day moving average, the risks appear to be more favorable to a negative breakout than to a bullish breakout.
It is highly likely that Terra Luna Classic price will continue to face headwinds after losing its grip on the 50-day moving average in early 2024.
Around $0.000010, a bearish breakout would allow testing a resistance level transformed into a support level.
#LUNK