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Between late August and early September, the Terra Classic market witnessed a strong bullish move. The bullish move was so strong that the price broke multiple price levels within a short period. But when the market price reached the $0.000598 price level, it experienced a steep fall similar to the way it had risen before. Traders sold massively. And the price dropped to $0.000226. Through the help of the buying pressure, the market established higher support at $0.000285.
Terra Classic Market Price Statistic:
- LUNC/USD price now: $0.000254
- LUNC/USD market cap: $1,640,957,812
- LUNC/USD circulating supply: 6,588.52Billion
- LUNC/USD total supply: 6,884,779,496,111
- LUNC/USD coin market ranking: #32
Key Levels
- Resistance: $0.000286, $0.000329, $0.000400
- Support: $0.000199, $0.000181, $0.000173
Terra Classic Market Price Analysis: The Indicators’ Point of View
As the volatility of the Terra Classic market reduces, the market begins to settle on new higher support of $0.000286. In the Bollinger band indicator, the moving average is serving as the support level. With this consolidation market, it is expected that this will serve as the new basis for another upward bullish move. From the 4th of October to the 11th of October, the Bollinger bands converge to form a parallel horizontal line as the market rests from the volatility. In the RSI indicator, from the 11th of October, the RSI line began to slide slowly to the downside. Also, the price action has fallen from the middle band to the lower band of the Bollinger. It is looking like the price will fall again as the volatility increases.
LUNC/USD 4-Hour Chart Outlook
From the 14th of October, we begin to see more 4-price dojis on the 4-hour chart outlook. This type of candlestick portrays a trading session where the price remains stagnant due to a lack of interest to buy and sell the crypto. Toward the end of the session that ended yesterday, the Terra Classic market opened at a higher price but did not progress nor did it regress. The same thing happened in the first four hours of today’s trading session.
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