Terra Luna Classic Price Technical Analysis: Is $0.00015 Next?
The chart presents a reversal pattern— specifically an Inverse Head and Shoulders pattern, which is a bullish reversal signal. The price has been trending downward, but this pattern indicates a potential shift to the upside.
Key Support and Resistance Levels
$0.0001: This is the neckline of the inverse head and shoulders pattern. Below it, there’s major support at $0.000008 from recent lows.
$0.000142: This is the projected breakout target based on the height of the head-to-neckline distance. It represents a potential gain of approximately 43.78% from the breakout level.
After completing the right shoulder, the price rose up and broke above the neckline, indicating bullish momentum. If the price sustains above the neckline, it will confirm the breakout, triggering a significant bullish move higher.
A volume-confirmed breakout above the neckline suggests a potential long-term bullish reversal. However, if the LUNC price fails to sustain above the neckline, it could signal crypto market weakness and could fall below 0.000008, the low of the right shoulder, invalidating the current bullish thesis.
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