Price Analysis

TerraClassic (LUNC) &Terra(LUNA) Price Tanks Heavily with USTC! Is the Bull’s Job Done?

Written by: Sahana Vibhute

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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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Jul 5, 2022

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Article Highlights
  • LUNC price sheds the profit gained in the past 24 hours, displaying possibilities of maintaining a depleted trend

  • On the other hand, LUNA & USTC prices also maintain a similar trend, raising speculations of the bulls distancing themselves from the asset

LUNC’s price was on the path of a slow yet steady recovery and had gained levels close to $0.00013, while the bears crashed the price back to $0.00011 levels. On the other hand, USTC also plunges hard by nearly 15% while LUNA’s price is struggling hard to sustain above $2. Currently, no strong implication of a continued descending trend can be drawn, but the possibility of a rebound is also nullified.

That being the case, the possibility of bulls shifting their focus or the retail traders maintaining a safer distance emerges. Is there any hope for the rejuvenation of the uptrend or the sister tokens could continue to chop within the narrow ranges?

TerraClassic(LUNC) Price Analysis

luncprice
  • LUNC price broke the range-bound consolidation and surged more than 180% since the last week of June, which suffered a 30% drop during the monthly close
  • Since then the asset is trading within the crucial resistance and the support zone, unable to break either of them
  • The recent attempt to break the upper resistance at $0.000129 slashed the price again towards the support at $0.000114, from where the price is attempting a rebound
  • Currently, the LUNC price is hovering within an ascending triangle, very close to the apex and hence an extreme price action is expected before the day’s close or during the early trading hours of the upcoming day

Terra (LUNA) Price Anlaysis

lunaprice
  • LUNA price had massively tanked ever since the beginning of June and continued to drop until it reached the bottoms just before the quarterly close
  • However, after flipping from the bottoms, the asset has stabilised a notable upswing along the uptrend line, flashing minor bullish signals
  • Due to the recent plunge, the price had dropped below the ascending triangle, but it’s making all efforts to regain its position
  • Therefore, the price is expected to maintain an ascending consolidation for another couple of days before breaking out from the triangle

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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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