- The LUNC market bulls have recovered, invalidating the prior bearish trend.
- Terra Classic gains $0.00001644, a 0.82 %, as buyers push the price up.
- Traders should proceed carefully, according to technical indicators.
Bulls in Terra Classic (LUNC) have been resilient throughout the market decline, despite strong opposition at an intra-day high of $0.0001695. As of press time, the bulls have managed to lift the price by 0.20% to $0.0001638.
The LUNC market capitalization climbed by 0.42% to $985,180,830, while the 24 hour trading volume increased by 17.05% to $122,789,737, all of which contributed to the uptick. The market’s good performance reflects the market’s upbeat sentiment and ample liquidity.
The equaling purchase and selling pressure is apparent as the Bollinger Bands move linearly on the 1-hour price chart. The top band reaches 0.00016923 and the bottom band touches 0.00016907, indicating that the market is stabilizing. However, since the price action continues towards the upper band, the bulls’ effort to correct the market is called into doubt.
The blue MACD line has lately moved below the signal line, indicating that selling pressure may be outweighing purchase demand. This movement is evident with a value of 0.00000078, and the movement of the histogram in the negative zone suggests bears may recuperate the market.
The market for LUNC is now bullish, with an Elder Force Index (EFI) rating of 7.611k. The higher the EFI rating, the more likely a market will acquire value as more investors exhibit interest in the investment. As a result, LUNC investors should be optimistic about the possibility of a positive return on their investment.
With a “buy” signal from the technical rating indicators on the LUNC price chart, buyers have more confidence that the LUNC market will continue its current ascent.
To keep the bullish trend going, LUNC bulls must boost prices and hold the resistance level.
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