Terra Classic, colloquially known as LUNCH, is currently trading at an impressive $0.000065. In the last 24 hours, this cryptocurrency has experienced a slight drop of 0.25%, but it has increased by more than 12% in the last 7 days underlining.
In accordance with CoinMarketCap, Terra Classic has secured its position at number 94, with a substantial market capitalization of approximately $375 million. In terms of supply metrics, the market is crowded with a staggering nearly 5.7 trillion LUNC coins in circulation.
However, details about its maximum supply remain shrouded in mystery. Witnessing an impressive 12% rise over the past week, LUNC’s performance has turned heads and re-ignited the age-old debate: Is the sell-off really over?
Here’s our take on the Terra Luna Classic price prediction and the dynamics at play.
Terra Luna Classic Price Prediction
Daily chart analysis reveals key price levels that traders and investors should watch closely. Terra Classic’s pivot point is precariously set at $0.00006721.
Remarkably, this is not just a random figure; it is the 50% Fibonacci retracement level and also corresponds to the top triple pattern, a crucial technical indicator.
Moving up, the cryptocurrency finds its first resistance at $0.00007033, synonymous with the 61.8% Fibonacci level. Beyond that, traders should keep an eye on the resistance level set at $0.00007464.
On the other hand, should Terra Classic face bearish pressure, its immediate support is set at $0.00006423, marking the 38.2% Fibonacci retracement level.
Deeper supports can be identified at $0.00006059 and then $0.00005449.
Drilling down into other technical indicators, the Relative Strength Index (RSI) stands at 64. This is a clear indication of bullish sentiment.
For the uninitiated, an RSI reading above 70 typically indicates an overbought condition, while anything below 30 suggests a potential oversold scenario.
With Terra Classic’s RSI sitting comfortably at 64, it is leaning towards bullish sentiment.
In conclusion, the overall trend for Terra Classic seems to be bullish as long as the price remains above the critical mark of $0.00006059. Conversely, falling below this level could invite bearish trends.
Considering the current market dynamics and technical indicators, Terra Classic could test the $0.00007033 resistance level in the coming days.
As always, it is imperative that traders and investors stay informed and tread carefully in this volatile crypto landscape.
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