LUNC Price Prediction: LUNC Is in a Recovery Mode. Can It Reach Its Previous Resistance at $0.00021?

Updated: 15 March 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

The weekend was marked by a series of events related to exposure disclosures by fallen US banks, causing a significant surge in the price of Terra Luna Classic (LUNC).

Despite this, the support at $0.00012 held firm, preventing LUNC from dropping below $0.00012. Experts had previously predicted that if LUNC fell below the broken support at $0.00014, it could sweep through the liquidity at the $0.00012 level. As expected, there was a rapid and strong rebound from the support level, and LUNC began to trade aggressively upward on Monday, reaching $0.0001336.

Cremation Coin Burns 106M Terra Classic (#LUNC) in One Transaction$LUNC #USTC #USDD #USDT #USDC #BNB #BTC #Binance pic.twitter.com/uKoRZMWIc4

— LUNC NEWS ⚡️ (@Chot4a) March 14, 2023

This upward movement was accompanied by a substantial 167% increase in 24-hour trading volume, which suggests growing investor interest and momentum behind LUNC. This surge in trading volume is often used as an indicator of investors’ willingness to accumulate and hold LUNC, which could lead to a sustained upward trend in price. If this trend continues, LUNC could reach its new 2023 high of $0.00021. LUNC will consolidate between $0.00012 and $0.00014 for a few weeks before deciding on its next direction.

At the time of writing, Terra Luna Classic (LUNC) is trading at $0.00013287 with a 24-hour trading volume of $114,758,302. Over the past 24 hours, LUNC has experienced a slight decrease in price of -0.02%, and over the past 7 days, it has seen a decline of -6.54%. With a circulating supply of 5.9 trillion LUNC, the current market capitalization of Terra Luna Classic is estimated at $786,499,542.

LUNC/USD 4Hr Chart Analysis

On the four-hour chart, the support level at $0.00012 played a significant role in facilitating the bullish momentum seen on Monday. However, buyers should prepare for a more significant challenge at $0.00014.

Although the 50-day Exponential Moving Average (EMA) (indicated by the blue line) at $0.0001336 slowed LUNC’s upward momentum, a daily close above this price level is crucial for continuing the uptrend.

Investors uncertain about LUNC’s ability to sustain its recovery will observe the market to confirm that $0.0001336 acts as support before committing to the project. Such a move is necessary to maintain confidence in the uptrend and open up opportunities for further bullish developments.

Bullish Trend for LUNC

Terra Luna Classic’s (LUNC) price is bullish, supported by the Moving Average Convergence Divergence (MACD) indicator’s buy signal. The MACD line has crossed above the signal line, which suggests that investors are likely to buy LUNC.

To further confirm the bullish trend, LUNC needs to move into the positive region above the mean line at 0.00. The first key target is the 50-day Exponential Moving Average (EMA), which has already been tapped. However, it must be confirmed as support for LUNC’s price to continue trending upward.

The second critical target is $0.00014, which may include the 100-day EMA on the same four-hour chart. Extremely bullish traders may want to wait for another spike before closing their positions at this level.

Investors should consider cashing out at the 50-day EMA and placing new buy orders after LUNC’s price affirms its position above $0.0001336. The 100-day EMA would be the second target, with a potential entry for gains aiming for the 61.8% Fibonacci retracement level, highlighted by the 61.8% Fibonacci level at $0.0001532.

LUNC Price Prediction

If LUNC maintains its uptrend above the 200-day EMA, investors may expect an explosive move to $0.00018 and $0.00021, respectively.

On the downside, if LUNC fails to break above the 50-day EMA, the recovery seen on Monday may be dampened. There is also a possibility of another sweep at the major support level at $0.00012, especially with the crypto market potentially facing increased contagion from collapsing US banks.