Terra Luna Classic Price Prediction: LUNC At Risk Of 18% Losses

The crypto market is showing signs of recovery, especially among the top-cap assets, and readiness to recoup recent losses and scale higher. Meanwhile, Terra Luna Classic (LUNC) remains unpredictable as it coils up above critical support levels.

LUNC is down by nearly 10% on Thursday to trade at $0.00009081. If the bearish force behind it is not tamed, it is probable to see action toward $0.000070 in the short term.

Terra Luna Classic Price At An Inflection Point 

Market participants were waiting to see the direction LUNC price would take after experiencing a notoriously challenging trading environment over the last two weeks. There have been sell-offs, fake-outs and bull traps, which are now being consolidated into a narrative that would make sense for Luna Classic investors.

LUNC’s price action over the last 10 days has led to the formation of an asymmetrical triangle that has now been formed on the four-hour chart, justifying reducing volatility. 

If the technical setup plays out correctly, then traders could witness a 22% rally for the Terra ecosystem token. However, the movement could be in either direction.

If the lower trendline remains intact in the coming sessions, bulls could be bolstered to push for a closing four-hour candlestick above $0.00009292, embraced by the upper trendline of the triangle.

If this happens, Terra Luna Classic price would be poised to rise above the 200 Simple Moving Average (SMA), reaching the optimistic target of the triangle at $0.0001085. This would represent a 19% uptick from the current price.

LUNC/USD Four-hour Chart

The Relative Strength Index (RSI) was still moving above the midline within the positive region. The price strength at 51 suggested that there were still more buyers than sellers in the market, justifying the optimistic outlook.

On the other hand, the same RSI was sharply pointing downward. This, coupled with the appearance of three red candlesticks on the chart, attested to the strength of the downtrend.

Therefore, a breakout below the lower trendline at $0.00008962 – where the 50-day SMA lies – may be expected to occur before the trend lines meet. Such a move may pull LUNC 18.28% lower, where the gap to $0.00007426 would close.

LUNC Alternatives

Investors seeking alternative investment to Terra Luna Classic have the opportunity to explore new cryptos with low risk-to-reward ratios and the potential for 10x investment returns.

One such crypto asset is $AI, the utility token of the new AI crypto project, AiDoge.

AiDoge is a ground-breaking meme generation platform that combines the fun of online memes with the capabilities of artificial intelligence (AI).

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At its core, the innovative platform uses advanced machine learning algorithms trained on large datasets of existing memes and crypto news to generate an endless stream of relevant and captivating memes.

Its revolutionary meme-to-earn (M2E) model has caught the attention of many investors in the crypto space with its presale amassing more than $8.9 million in just a few weeks.

The $AI token is available for purchase at the price of $0.0000308. However, interested investors must hurry before its price increases to $0.0000312 in a few days.

Visit AiDoge here for more information on the ongoing presale.

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