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Terra Classic Price Analysis: LUNC Recorded New All-Time High, Which is Next Stop?

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Terra Classic Price Analysis: LUNC Recorded New All-Time High, Which is Next Stop?

  • The Terra Classic Coin (LUNC) has recorded an all-time high this morning at $0.000547.
  • The Choppiness Index (CHOP) continues to move higher in the lower levels showing a strong directional trend.
  • Trading volume increased by 63% to $3.2 billion in the last 4 hours.

The Terra Classic Coin (LUNC) has registered an astounding surge over the previous 24 hours. LUNC is the top gainer in the previous 24 hours as well as the top weekly gainer this week, up 108%. Additionally, the currency is now trading at $0.00053 versus the USDT pair at the time of posting.

This morning, LUNC reached an all-time high of $0.000547. However, the LUNC price fell dramatically following its initial rise, with bulls seeing an all-time low of $0.00001675 on May 13, 2022. Buyers afterwards received a more than 3000% return on investment in just four months.

Terra Classic Price Analysis: LUNC Recorded New All-Time High, Which is Next Stop?

Source: LUNC/USDT by Tradingview 

The bulls have continued to propel the altcoin price for the past three weeks without any fear. Meanwhile, the property is in the green zone. Now the bears shy away from LUNC crypto, therefore, the bulls continue to make profit after buying on the dip.

Trading volume is increasing with a bullish trend. The bulls are converting each previous swing into a support level. Besides, the 1.618 Fibonacci retracement level (at $0.00070) is showing resistance, with the bulls likely to see a minor decline below the next resistance level. Furthermore, the Choppiness Index (CHOP) continues to move higher, indicating a strong directional trend.

RSI Reached into Extreme Higher Zone 

Terra Classic Price Analysis: LUNC Recorded New All-Time High, Which is Next Stop?

Source: LUNC/USDT by Tradingview 

The market capitalization also noted an all-time high of $3.241 billion, an increase of 48% over the past 24 hours. The 20-day moving average is trading below the current price of the Terra Classic coin on the daily price chart amid a bullish uptrend. Furthermore, the RSI indicator moves higher into the overbought zone.

Conclusion

Investors don’t want to lose their grip on the Terra Classic Coin (LUNC). The bulls continue to make profits even after buying the dip and each swing low immediately turns into a support level. Besides, the bulls could see a minor downside break above the next level of the Fibonacci retracement level of 1.618 ($0.00070).

Support level – $0.00045 and $0.00030

Resistance level – 0.00060 and $0.00070

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.


Source: ethereum.today

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