Crypto News– While most of the cryptocurrency market grappled with uncertainty during the previous trading session, Terra Classic (LUNC) managed to stand out with an impressive gain of over 3%. This exceptional performance allowed the altcoin to break through a significant resistance level within the last 24 hours. During this period, LUNC’s price bounced back from the support level at $0.00005840, establishing a higher low in the process. Consequently, a positive trend line materialized on the altcoin’s price charts. Building on this foundation, LUNC’s price embarked on a bullish trajectory, surging past the $0.00006110 resistance and maintaining its position above it as of the latest update.
LUNC Price Increase, Achieves Impressive 3%+ Growth in the Last 24 Hours, Displaying Stellar Performance
If this bullish momentum persists, there’s potential for LUNC to conquer the subsequent resistance at $0.00006420. In an exceptionally bullish scenario, the altcoin could even turn this level into support, propelling it to new heights, potentially reaching as high as $0.00006870 in the coming two weeks.
However, should traders decide to secure profits from their LUNC holdings, it might lead to a price retracement below the aforementioned $0.00006110 threshold. Such a scenario would expose the altcoin to the risk of dipping to the next crucial level at $0.00005840 within the next 48-72 hours.
A breach below $0.00005840 would not only result in breaking the positive trend line on LUNC’s chart but could also trigger sell signals among traders, potentially pushing the price down to $0.00005550.
At the time of reporting, CoinMarketCap data indicated that LUNC had witnessed an impressive 3.5%+ increase in its price over the past 24 hours, valuing the cryptocurrency at $0.00006159. This daily surge contributed to LUNC’s positive performance over the week, with a cumulative gain of +6.51% in the last seven days.
Despite the substantial price surge, CoinMarketCap reported a 21.51% decrease in LUNC’s trading volume over the past 24 hours, bringing the total volume to $19,126,021 at the time of this update.
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