The Terra Classic (LUNC) price has displayed massive price action during the past month as the token has gained over 22% within the past day and has added approximately 130% during the past month.
The Terra LUNC price traded in a narrow space between $0.00006190 and $0.00006698 for a brief period, following which the coin gained momentum and the price broke out of the range. The LUNC price recorded a jump of 34% in value before being rejected at $0.00009002.
Following this, the price lost momentum and the coin started trading under a bearish influence. For a brief period, the coin was seen trading sideways, indicating a weak buying and selling pressure.
TradingView: LUNC/USDT
The bulls regained momentum, and the price jumped a notable 48% in value within three days. The coin then faced rejection at $0.00011778, following which it displayed significant price volatility.
After multiple failed attempts to break down its crucial support level at $0.00009002, the price regained momentum and displayed another jump of 50%. The price was then seen trading over its support/resistance level of $0.00011778 for a while.
Recently, the price recorded another jump of 23%, suggesting a strong bullish influence in the market.
The Moving Average Convergence Divergence (MACD) displays a sharp rise in its histogram, indicating a trend reversal in the market. Further, the averages show a bullish convergence, suggesting the price to continue gaining value in the coming time.
Will Terra Classic Hit $0.0002 Soon?
If the bulls push the price above the resistance level of $0.000145, the LUNC price will regain momentum and prepare to test its upper resistance level of $0.000155 soon.
Further, if the bulls hold the price at that level, it will set the stage for Terra Classic to attempt to test its upper level of $0.000160 in the coming week.
Conversely, if the bears overpower the bulls, the price will lose momentum and fall to test its support level of $0.00012855 soon. Moreover, if the bears continue to dominate the market, it will plunge further and test its lower support level of $0.00011778.
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