Over the past two weeks, Terra Classic (LUNC) has demonstrated remarkable outperformance compared to the overall market, achieving impressive gains.
The momentum gained additional strength when its counterpart, the Stablecoin USTC, experienced a significant rally in its pursuit to reclaim the $1 mark.
Presently, the value of LUNC has surged by 25%, breaking through the crucial resistance level of $0.00021000, indicating the possibility of continued growth
According to Coingabbar Technical Analysis, Golden crossover is observed on the daily chart, with the 50-day and 200-day moving averages converging, signaling a positive trend.
The upward momentum is backed by the presence of a rounding bottom pattern, providing additional support to Terra Classic's rally.
Breaking a crucial resistance at $0.00021, indicating the initiation of a potentially historic bull run.
After a 14-month anticipation, Terra Classic experienced a resurgence, achieving four consecutive bullish days and testing the $0.000280 level.
Witnessing a remarkable surge of over 25%, the price maintains its upward trajectory, aiming for the challenging $0.000280 resistance.
Caution arises as the psychological barrier of $0.000280 may introduce supply pressure, impacting the ongoing price ascent.
Sustaining above the conquered $0.00028 level opens the door for a potential 15-30% increase towards subsequent resistance points at $0.00032 and $0.00035.
Conversely, a reversal in trend could lead to a loss of momentum, prompting a downward movement to test the support level at $0.00020.
KEY LEVELS :
RESISTANCE LEVEL : $0.00025000-$0.0002800
SUPPORT LEVEL : $0.00020500-$0.00018000
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
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