LUNC Price Jumps By 25% Today! Is Terra Classic Stuck In Pump-And-Dump Scheme?

The token experienced a short pullback close to its support level of $0.00006698, but the bulls held the price, resulting in the price recording a jump of approximately 35%.

After this, the price underwent correction and traded sideways between $0.00008004 and $0.00009002 for a while. The bulls struggled to hold the price above the support level but failed, resulting in a breakdown.

The Terra LUNC coin then traded in a consolidated range between $0.00006698 and $0.00008004 for over a week, following which the Terra tokens experienced a massive price jump, with Terra LUNC recording a jump of 65% within the next two days.

After facing rejection at $0.00012855, the coin experienced a strong pullback as the price recorded a plunge of 28% in value. Terra Classic price leveled its losses by adding over 26% in value within the past 24 hours.

The LUNC price is currently hovering close to its support level of $0.0001778 and is expected to make a move soon, but the outcome is uncertain.

Will LUNC Price Hit $0.0002 Soon?

The Moving Average Convergence Divergence (MACD) displays a constant green histogram, indicating a massive ongoing price action for the coin. Further, the averages show a significant rise in the chart, suggesting the price will continue gaining value in the coming time.

If the bulls hold the price above the support level of $0.00011778, the LUNC price will regain momentum and prepare to test its resistance level of $0.00012855 soon. Further, if the market holds the price at that level, Terra Classic will continue to gain value and make a run to test its upper resistance level of $0.0001500 in the coming month.

Conversely, if the bears overpowered the bulls, the price will lose momentum and fall to test its support level of $0.00010372 soon. Moreover, if the market bears continue to dominate the market, it will continue to plunge further and prepare to test its lower support level of $0.00009726.