Terra Classic (LUNC) Price Analyses Hints at Potential 150% Breakout – Key Levels to Watch

Terra Classic (LUNC) has been in a downtrend for the last few months but is now showing signs of a potential reversal and breakout.

LUNC has formed a falling wedge pattern on the 2-day timeframe, which is typically bullish. At the same time, the Relative Strength Index (RSI) shows a bullish divergence, with the indicator making higher lows while price makes lower lows. This divergence indicates building upside momentum.

The Moving Average Convergence Divergence (MACD) has also had a bullish crossover, with the faster moving average crossing above the slower moving average. This also points to a strengthening uptrend. If LUNC can break out above the falling wedge pattern, it could lead to a massive 100-150% bullish rally.

The coin is up around 8% today and is trading around the $0.00006 level. The next key resistance zones are around $0.00007 and $0.000085. However, LUNC first needs to hold the support at $0.00006 to maintain the bullish momentum. This support was breached in mid-September for the first time this year.

Source: CoinStats – Start using it today

The moving averages are also key to watch. LUNC broke above the 50-day moving average (MA) and now needs to break above the 200-day MA to indicate further bullish momentum. Holding above the moving averages would be a positive sign.

There is also a new proposal, #11785, asking Binance to burn 50% of USTC monthly, alongside the current 50% LUNC burn. This could accelerate the burn and have a positive effect on LUNC price if implemented.

Overall, the technicals and proposals point to potential upside for LUNC in the near-term if key resistance levels can be broken.

We recommend eToro

74% of retail CFD accounts lose money.
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy thetrades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com


Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!