According to crypto analyst MyCryptoParadise, LUNC shows early but unmistakable signals of a significant impending price move brewing as it coils up around the pivotal $0.0001 support area.
Currently expressing an upward daily trend, LUNC appears poised for continuation higher after respecting resistance within a defined descending channel pattern consistently over recent weeks, per the analysis.
Monitoring $0.0001 as a Critical Pivotal Level
The trader identifies the current demand level around $0.00010370 as the break point to monitor very closely for signs of any sustainable upside push. A daily close above here opens up a major vacuum in the sizable liquidity zone around $0.00026419, which would equate to over 150% profit from current prices.
However, failing to hold the critical demand would compromise the bull setup in the short term, necessitating a reassessment of conditions. The next significant area to watch in that scenario sits around $0.00008034, which has sparked several impulsive moves for LUNC historically.
But breaching below that secondary demand level risks triggering substantial capitulation towards lower support regions.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +With LUNC teetering at the edge of a high-stakes breakout at current prices, traders will key in on whether the $0.0001 support demonstrates enough technical strength to catalyze the next leg higher back towards the medium-term resistance target around $0.000264.
If LUNC prints a decisive daily close beneath the initial support, the probability shifts favorably for the bears to drive an aggressive move lower to shake out weak longs. The coming sessions should determine the next major trend.
You may also be interested in:
- Here’s the Real Reason for Bitcoin’s Slump Following ETF Approvals
- Putting $1,000 into Cardano ($ADA)? See What Your Investment Could Become by 2025
- Lyn Alden Predicts $200K Bitcoin in Two Years; Injective & InQubeta Secure New Funding
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
