Terra Classic is in the green like most altcoins but only with modest gains. After respecting support at $0.00009, bulls took the reins from the sellers, who have dominated since the LUNC price hit a Q4 milestone, topping out at $0.00028 in December.

Is LUNC Price Going To $0.0002 In February?

Terra Classic traded at $0.00011 on Friday, maintaining a 2% growth in the last 24 hours. The technical picture on the four-hour chart shows LUNC oscillating between two key levels; the 20-day Exponential Moving Average (EMA) resistance at $0.00011 and the 20-day EMA support at $0.000108.

If the Moving Average Convergence Divergence (MACD) indicator flashes a buy signal in the coming sessions, new buy orders would build the momentum to trigger a rally targeting the next key resistance at $0.00013.

This buy signal will manifest as the MACD line in blue crosses above the signal line. Green histograms above the neutral area will affirm the breakout.

LUNC price chart | Tradingview

Unlike many altcoins that broke out on Thursday and Friday as Bitcoin ascended above $47,000, Terra Classic is in consolidation, undergoing a squeeze before the ultimate break out to $0.0002.

The 20 EMA and the 50-day EMA (the blue and red lines on the chart) reinforce the gradually forming uptrend as they move higher in tandem with the LUNC price.

Key Levels To Watch:

  • 200-day EMA – An immediate resistance level at $0.00011
  • 20-day EMA – Short-term support at $0.000108
  • MACD – Likely to flash a buy signal
  • Resistance: $0.000115, $0.00013
  • Support: $0.0001, $0.00009

The technical structure on the daily chart confirms that LUNC price has exhausted the downtrend and is in the early stages of a larger breakout.

Here both the 20 EMA and the 200-day EMA work together to keep Terra Classic buoyant, with a confluence support secured at $0.000108.

Terra Classic price chart | Tradingview

LUNC is showing a bullish trend, according to the MACD indicator. This means that traders are buying more of this coin and pushing its price higher. The only obstacle for LUNC to break out above $0.00013 is the 50-day EMA resistance at $0.000114. If LUNC can overcome this level, it could soar even higher.

Related Articles

  • Shiba Inu Price Prediction: Can SHIB Rally To $0.0001 with Shibarium’s Growing Popularity?
  • Solana Price Rebounds Strong From Recent Outage, Is Rally to $130 Next?
  • 5 Underrated Crypto To Buy For 2024 Bull Run: SUI, BTC, MANTA, DMY, ETH

Read the full article here

Share.

Leave A Reply

Your road to financial

freedom starts here

With our platform as your starting point, you can confidently navigate the path to financial independence and embrace a brighter future.

Registered address:

First Floor, SVG Teachers Credit Union Uptown Building, Kingstown, St. Vincent and the Grenadines

CFDs are complex instruments and have a high risk of loss due to leverage and are not recommended for the general public. Before trading, consider your level of experience, relevant knowledge, and investment objectives and seek financial advice. Vittaverse does not accept clients from OFAC sanctioned jurisdictions. Also, read our legal documents and make sure you fully understand the risks involved before making any trading decision