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Terra Luna Classic (LUNC) has recently seen a notable increase in market value, which could indicate a strong upward trend. Over the past few weeks, the cryptocurrency has successfully breached multiple resistance levels. This upward trajectory could signal a solidifying confidence among investors.
Uncertainty Persists in LUNC’s Market!
In the last 24 hours, Terra Classic has continued its upward trend. However, there has been a slight consolidation in the past few hours, which could indicate a temporary slowdown in the upward momentum. The price of Terra Luna Classic is at $0.0001402, representing a slight decrease of just over 4% from the previous day, highlighting the market’s inherent unpredictability.
Despite the mentioned minor setback, the sentiment among market participants continues to be largely positive, and many may maintain a bullish outlook for the short-term future. The 24-hour trading volume has seen a small decrease of 2%, reaching $86.55 million. With a market capitalization of $824 billion, Terra Classic ranks 123rd according to 21milyon.com data. Last week, Terra Classic experienced a significant drop of 25%, reflecting an increase in investor confidence despite market volatility.
The broader cryptocurrency market is experiencing a significant pullback from recent high levels. The market leader, Bitcoin, recently fell below $70,000, while Ethereum dropped below the $4,000 threshold. A monthly overview of the cryptocurrency shows an upward trend for LUNC with an 11% increase. Trading activities moved between $0.0001180 and $0.00024, which could indicate a slight downward trend.
Momentum for a Rise in LUNC
If the upward trend regains strength, the LUNC price could rise above the $0.00019 threshold. Such a revival in bullish activity could pave the way for the token to retest the $0.00024 resistance level and even extend its reach to $0.0003. Additionally, an intensification of the current downward trend could lead to a fall towards the $0.0001 support level.
A continuing downward trend could pull LUNC’s price to a new low around $0.00009, testing lower support limits. Terra Classic is showing significant movements as reflected by daily technical indicators. The Bollinger Bands display a notable difference, with the upper band at approximately $0.0002172 and the lower band at about $0.0001306, indicating increased market volatility and potential opportunities for investors who adapt to market swings.
