Price Analysis

Terra Classic (LUNC) Price Could Surge by 32% Soon! Does This Point Towards the Resurgence of Bulls?

Author: Sahana Vibhute

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A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Highlights
  • Terra Classic (LUNC) prices to surge by 32% in the near future after dropping at the support level

  • The 79% price spike results in the formation of an upward parallel channel resulting in a bullish price trend.

After being in an extremely bearish market for about a month, Terra Classic (LUNC) raised significantly, forming an upward parallel channel, indicating a bullish price trend. The crucial question is whether the price consolidation inside the parallel channel will sustain the bullish trend or not.

The LUNC price is currently trading at $0.0003183 after dropping massively in the last month, resulting in a wedge formation where the prices consolidated for approximately two weeks. The prices quickly surpassed the top trend line and rose 79% in the final weeks of September, reaching the parallel channel’s resistance level at $0.00038.

The LUNC soon dropped below the average level of $0.00034, consolidated between the average level and the support level of $0.00029 for a couple of days, and quickly rebounded, breaking the average level. After breaching the average level, the Terra Classic prices stabilized for a day between the resistance level ($0.00038), before falling to $0.00031.

The Terra Classic (LUNC) prices are anticipated to fall at the support level, immediately bounce back and surpass the average level, and then hit the resistance level with a predicted price increase of 32% in the near future.

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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