Terra Classic Price Prediction: Over the past two weeks, Terra Classic (LUNC) has notably outperformed the broader market, posting impressive gains. This increase in momentum was further boosted when its sister token, the USTC Stablecoin, showed a massive rally as it attempted to reclaim the $1 benchmark. Today, the LUNC price value soared by 30%, surpassing the critical resistance level of $0.00017, indicating potential for further growth.
Also Read: Terra Luna Classic v2.3.2 Update Proposal Officially Approved, LUNC Price Soars 90% in One Week
Will the Terra Classic price exceed $0.0002?
- Breakout of $0.00017 Could Trigger a Quick 10% Rally
- The 20-day EMA would offer strong pullback support to buyers
- The intraday trading volume of LUNC coin is $551 million, indicating a gain of 45%.
Classic Terra Price | TradingView Chart
Beginning in the fourth week of November, Terra Classic price embarked on a strong recovery trajectory, rising from $0.000692 to a recent high of $0.000196. This impressive 185% growth was accompanied by a significant increase in trading volume, allowing the coin to break through several key resistance levels at $0.000115, $0.00015, and most recently $0.00018.
At the same time, the Terra Classic coin regained a market capitalization of $1 billion, a milestone that could bolster investor confidence in the asset. If the coin maintains its stance above the recently conquered level of $0.00018, there is a possibility of a further 10% rise to the next resistance points of $0.00021 and $0.00028.
However, sustaining such rapid growth requires fundamental development or favorable news; In the absence of this, investors should be cautious about possible pullbacks. In such scenarios, the 50% Fibonacci retracement level can serve as a prudent correction point to maintain a bullish outlook.
LUNC Performance vs. BTC
Source: Coingape| Terra Classic Price vs. Bitcoin
Over the past three months, both Bitcoin and Terra Classic have shown bullish trends. However, the price of LUNC has notably outperformed BTC, almost doubling in value in recent weeks, while the price of Bitcoin has demonstrated a more confident but steady rise.
- Relative Strength Index: The daily RSI is at a high of 89%, indicating strong bullish momentum but also hinting at the possibility of an overbought condition.
- Average Directional Index: The ADX is showing a 48% slope, suggesting a decline in bullish momentum and potentially indicating the need for a minor pullback.
