LUNC Crypto Witnesses Soaring 83% Gain in 30 Days, Eyes Further Upside Potential

LUNC Crypto Witnesses Soaring 83% Gain in 30 Days, Eyes Further Upside Potential

Crypto News – Terra Classic (LUNC) has recently witnessed an astonishing surge in its value over the past month, according to data from CoinMarketCap. The cryptocurrency has experienced a remarkable 83% increase in its valuation within the last 30 days, with the majority of this impressive growth occurring in the past week, where LUNC’s value surged by over 61%. As of the current moment, technical indicators are suggesting that this upward momentum may continue.

In the latest developments, LUNC managed to break through the significant resistance level at $0.00011695 in the past few days and has maintained its position above this threshold at the time of this report. If the altcoin successfully concludes a daily trading session above this pivotal price point, it could pave the way for further advancements.

In this optimistic scenario, LUNC may embark on a trajectory aiming for $0.00014915, which represents the final major hurdle on its path towards the $0.0002 resistance level. Subsequently, a daily candle closing above $0.00014915 might propel the cryptocurrency’s value to reach the $0.0002 mark within the next two weeks.

However, it’s crucial to note that this bullish outlook could be invalidated if LUNC fails to maintain a daily candle closing above $0.00011695 within the next 72 hours. With LUNC having experienced a 28.57% surge on Sunday and an 18.42% spike on Tuesday, there is an increased likelihood of a temporary price correction.

Given these substantial price movements, it’s only a matter of time before traders consider capitalizing on their LUNC holdings. In the event of a price correction, the cryptocurrency is likely to test the critical support level at $0.00009905.

Despite the potential for a price decline, technical indicators on LUNC’s daily chart continue to signal bullish sentiment. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are exhibiting bullish trends. The MACD line has diverged positively above the MACD Signal line, indicating the potential continuation of LUNC’s positive momentum. Meanwhile, the RSI line remains bullish, positioned above the RSI Simple Moving Average (SMA) line, suggesting that buyers are currently in control of the market.