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The Terra Luna Classic price dropped over 7% in the last 24 hours to trade at $0.00007846 as of 6:28 a.m. EST as investors offload some of their holdings in the altcoin on the market.
Despite this recent pullback, the LUNC price is still up by more than 28% on the weekly timeframe. It is also 13% in the green over the past 30 days.
The Terra Luna Classic Price Rests On A Key Support
4-hour chart for LUNC/USDT (Source: TradingView)
The Terra Luna Classic price dropped below the key support level at $0.00008277, and is now resting on the $0.00007676 mark. Dropping below this significant price point within the next 12 hours could expose LUNC to the risk of falling to the next technical safety net at $0.00006883 in the short term.
However, the Terra Luna Classic price staying above $0.00007676 for the next 12 hours might invalidate the bearish thesis. In this alternative scenario, LUNC could attempt to reclaim the $0.00008277 support. A 4-hour candle close above this threshold might then give the altcoin the technical foundation needed to potentially rise to $0.00008941 in the following 24 hours.
Technicals Warn The Terra Luna Classic Price Might Plunge In The Short Term
From a technical perspective, indicators on LUNC’s 4-hour chart warn the Terra Luna Classic price could drop through the course of the next trading day. More specifically, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators are showing negative signs after they both triggered major bearish technical flags in the last 24 hours.
Recently, the RSI line crossed below its Simple Moving Average (SMA) line to signal that bears have gained the upper hand against bulls. Although the current RSI reading is still above the 50 benchmark to signal bullish strength, the negative slope of the RSI line suggests the indicator might fall below 50 soon.
Meanwhile, the MACD line crossed below the MACD Signal line in the last 24 hours. Traders generally see this technical occurrence as an indication that a crypto has entered a short-term negative cycle. With the MACD line breaking away below the MACD Signal line, it seems the bearish momentum is growing stronger.
While the Terra Luna Classic price remains at risk of dropping in the next 24 hours, investors are rushing to buy Base meme coin Base Dawgz (DAWGZ) for potential 100X gains.
A Base Meme Coin With A Multi-Chain Presence
Base Dawgz (DAWGZ) is a new dog-themed crypto looking to make its mark in the growing Base meme coin ecosystem. However, the token is not limited to just the Base network, and gives investors the ability to seamlessly shift value across some of the most liquid and active networks in the Web3 space.
DAWGZ holders can transact on Ethereum, Avalanche, Binance Smart Chain, Solana and Base. With this interoperability, investors can take advantage of yield-generating opportunities on any of these chains as soon as they appear.
Popular crypto YouTuber ClayBro recently shared his bullish outlook on the project. In a video to his 130,000 subscribers, he said that Base Dawgz has what it takes to mint the next wave of crypto millionaires.
Closing On $3 Million
Investors have already sent more than $2.8 million to Base Dawgz’s ongoing ICO. This investor frenzy is likely to continue given the lucrative staking opportunity available to presale buyers. Anyone who purchases and stakes DAWGZ at this early stage gains access to an 889% APY.
To get in on these rewards, investors need to acquire the token through the simple buy widget embedded on the project’s website. Selling for $0.007414, the meme coin can be bought using either BASE, AVAX, SOL, BNB or ETH. Once purchased, the tokens can be locked up via the staking page on the website to unlock the high rewards.
Congrats on passing 2.8 million $DAWGZ 🥳
We’re getting closer. And hopefully we can give you an update next week 🤝 pic.twitter.com/mRvjOMwD6F
— Base Dawgz (@BaseDawgz) August 3, 2024
Investors will want to act fast, because the token’s price is set to increase during the subsequent stages of its ICO. The next price adjustment will take place in less than 24 hours.
Purchase and stake DAWGZ here for the 889% APY before its price increases.
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