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Terra Luna Classic (LUNC) has shown notable resilience and upward momentum in market performance in recent months. However, LUNC’s price has recently encountered fluctuations indicated by a slight downtrend. Currently, the Terra Classic price is at the level of $0.0001537, reflecting a drop of over 5% in the last day.
LUNC Price Movement
LUNC’s market value is currently an impressive $899 million, asserting its dominance as the 122nd cryptocurrency in the market. In the last 24 hours, following a minor market adjustment, there was a significant 37% decrease in trading volume, which reached $67 million. Terra Luna Classic has witnessed a notable increase in value since the beginning of March, registering a 20% rise compared to the previous month. Over the past week, its price fluctuated between $0.00013 and $0.00017, which could indicate an uptrend despite minor setbacks, with a 19% increase.
The recent momentum of the cryptocurrency is largely attributed to two major updates. According to data released by Genuine Laboratories, these changes significantly improved dApp integration and strengthened the capabilities of the Corporate DAO. The Terra Classic development team also made progress in the Security Package upgrade, further enhancing network security and performance.
Expectations of a Rise in LUNC
If the bulls return and successfully break through the resistance level of $0.00017, LUNC could witness a significant uptrend in price. This situation could push the cryptocurrency towards the main resistance mark of $0.001. However, if the upward trend continues to exert pressure, LUNC’s value could fall to the support level around $0.00015. Persistent downtrends could further reduce the price, potentially reaching a support level around $0.00013.
Both the moving average convergence divergence (MACD) and Chaikin money flow (CMF) indicators point to an ongoing positive trend despite the recent pullback. The MACD and signal lines staying above the baseline indicate the strength of the uptrend, while the CMF could show a positive reading of 0.04, reflecting bullish market sentiment. Oscillators are currently neutral after a period of decline, and the transition of the Awesome Oscillator (AO) from an upward to a downward direction could signal a potential bullish attack. The Relative Strength Index (RSI) shows a value of 48.91, indicating a neutral market.
