Terra Luna Classic Price Prediction – Still Can’t

erra Luna Classic investors seem to be playing the long game following an untimely retreat from LUNC’s February peak of $0.00021. Meanwhile, Terra Luna Classic price is currently boxed in a narrow range between a critical buyer congestion area at $0.00016 and a stubborn supply zone around $0.00018.

Despite the mundane trading across the board in the crypto market since last week, Terra Luna Classic price is up 3% to exchange hands at $0.0001691. The token’s 24-hour trading volume has also been on the rise, up 72% to $139 million. Spikes in volume suggest investors are currently concentrating on accumulating more LUNC tokens in anticipation of another breakout.

Terra Luna Classic Price Wobbles In Range as Investors Play The Long Game

Terra Luna Classic price has set two key levels in the last couple of months – one is the resistance at $0.000018 and the other a support at $0.00016. Unless LUNC breaks out to either side of this range, day traders are unlikely to pay any attention to it.

Traders contemplating buying LUNC may want to wait until the token resolves a breakout above the upper limit of $0.00018. This price action is bound to stir interest in LUNC and pave the way for a 17% recovery move to $0.00021 – February’s high.

On the downside, Terra Luna Classic would be open to a 17% dip on a 1:1 risk vs profit ratio if support at $0.00016 is broken. However, its bearish outlook comes with a twist, considering lower side liquidity between $0.000147 and $0.00015.

A sweep through this liquidity may present new entry opportunities for long positions in LUNC. Although a risky maneuver, investors would be targeting the upper limit at $0.00018 for the initial profit booking. In other words, investors would be presented with a chance to tap a 22% profit.Nevertheless, the critical limit at $0.00018 may present a second opportunity for traders to push for the above-mentioned 17% target at $0.00021. Other crucial levels to monitor in Terra Luna Classic price are the moving averages.

At the moment, LUNC sits above all the three major applied moving averages, starting with the 50-day Exponential Moving Average (EMA) (line in red) at $0.0001641, the 100-day EMA (line in blue) at $0.0001658 and lastly the 200-day EMA (line in purple) at $0.0001693.

Terra Luna Classic price needs to hold above the immediate support, as provided by the 200-day EMA, otherwise, confidence in a near-term recovery would continue to erode. Remember, there is already minimal interest from day traders. The rest of the moving averages would try to mitigate the bearish picture but are likely to be overwhelmed and give way to losses foreseen toward $0.000147.

On the upside, Terra Luna Classic price may quickly resolve the consolidation if it steps above the month-long falling trendline as shown in the chart. A break and hold above this level, although not significant enough could make LUNC attractive again to day traders.