Terra Luna Classic (LUNC) crypto is currently consolidating around a key psychological price level of roughly $0.0001. Furthermore, Terra Luna Classic (LUNC) is trading within a continuation pattern known as a symmetrical triangle.
Should Terra Luna Classic (LUNC) be able to maintain positive price momentum I would be keen to see us reach the $0.0002 price levels over the next few months.
There have also been many integral upgrades around Luna Classic ecosystem at present. One of them being the implementation of a 1.2% burn per transaction across exchanges and DApps which will help reduce the total supply of Luna.
Will Terra Luna Classic keep pumping, or is this merely a dead cat bounce?
Terra Luna Classic (LUNC) Crypto Price Prediction
From a technical analysis perspective it seems that Terra Luna Classic (LUNC) is in a healthy accumulation range preparing for its next big move. At the time of writing this article, Terra Luna Classic is trading at $0.0000101 and according to Coinmarketcap has a market capital of $657 million.
Since Bitcoin has bounced from the $17,500 levels it has miraculously dragged the rest of the altcoin market up with it. Should we see the trajectory of Bitcoin reach $30,000 once again we could see more big moves ahead of us for Terra Luna Classic (LUNC).
On the 26th June 2022 Terra Luna Classic soared in price from $0.0000586 to $0.000167 delivering high-risk high-reward traders gains of up to 179%. Following this parabolic rally it had a 49% correction down to a key support range of $0.0000853.
Lunc/Usdt – 4 Hour Time Frame.
What really sticks out to me at the moment is that since the euphoric bull run on the 26th June we’ve consolidated sideways for roughly 36 days. Prior to this, we consolidated for 18 days before seeing a 179% increase in the price (as demonstrated in the image above).
Terra Luna Classic (LUNC) is currently extremely volatile and could have a large move to the upside or downside very soon. The key level of resistance I’m looking at right now is $0.000118 and as for support $0.00000853.
I do speculate that if Terra Luna Classic (LUNC) can break out to the upside of the symmetrical triangle it currently resides within we could see a 64% increase in price up to around the previous swing high (resistance) of $0.000167.
Lunc/Usdt – 4 Hour Time Frame.
It is also worth noting that today Terra Luna Classic (LUNC) was rejected at a critical resistance level of $0.000101. This is an area where we have seen multiple rejections from resistance and bounces from support over the last 36 days.
At the moment it seems like investors and traders see a lot of value in the $0.000085 support range as this is where we become oversold on the RSI and see a lot of healthy trading volume.
As a result I think $0.0002 is a realistic price target for but we could still spend a large proportion of 2022 chopping between $0.000085 and $0.00011. It is going to take a lot more burning of the Luna token in order to see the price of LUNC rapidly go up.
Terra Luna Classic Video Analysis
I think right now Terra Luna Classic is on the right path of restoring trust and faith to its community. Terra Luna Classic is also trending across Twitter with huge social engagements and is recognised as one of the most mentioned Solana ecosystem coins.
With a market capital at just $658 million during the crypto winter there is definitely room for long-term growth where we could see Terra Luna Classic (LUNC) repossess the $2.5-5 billion levels.
If you are looking to add Terra Luna Classic (LUNC) to your crypto portfolio one of the safest places to do so is on the highly reputable eToro platform.
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