LUNC’s Price Volatility May Continue in the Next 24 Hours

• LUNC’s price has dropped 2.68% after a volatile 24 hours.
• The altcoin’s price reached a high of $0.00021107 in the last few hours.
• Technical indicators suggest that there may be another pump in LUNC’s price.

The price of Terra Classic (LUNC) has dropped 2.68% according to the crypto market tracking website, CoinMarketCap. As a result, the price of LUNC stands at $0.0001872 at press time. This price drop comes after a somewhat volatile trading session over the last 24 hours that saw LUNC’s price reach a daily high of $0.0001945.

The volatility in LUNC’s price can be seen on the 2-hour chart for the altcoin. The volatility started with a pump in LUNC’s price from a low of $0.00016661 to a high of $0.00021107. At this local top, traders took profit – resulting in the 2-hour candle closing below the resistance at $0.00020628.

This triggered some panic selling which dragged LUNC’s price down to a low of $0.00018646 before recovering slightly to enter into another pump above the $0.00020628 resistance level. This move above the aforementioned resistance level was again a fake out and the market responded by entering into a selling frenzy which saw LUNC’s price drop to $0.00017930.

Since reaching this local bottom, LUNC’s price has entered into another mini rally which has elevated it above the 9 and 20 EMA lines on the 2-hour chart. LUNC’s price may continue its mini rally up until the resistance level at $0.00019350 before retracing again.

This short-term bullish thesis is supported by the 2-hour RSI indicator as the RSI line has crossed above the RSI SMA line and is sloped strongly towards the overbought territory.

Traders will want to watch the 9 and 20 EMA lines on LUNC’s 2-hour chart today. Should the 9 EMA line cross above the 20 EMA line today, then LUNC’s price may break past the resistance level at $0.00019350 and $0.00020628.

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