LUNC Delivers Stellar Performance and Gains 3+% Over the Past 24H

While the rest of the cryptocurrency market attempted to find its bearings throughout the past trading session, Terra Classic (LUNC) was able to achieve a 3+% gain. This standout performance enabled the altcoin to overcome a key resistance level over the past 24 hours.

4-hour chart for LUNC/USDT (Source: TradingView)

Over the past 24 hours, LUNC’s price rebounded off of the support level at $0.00005840 to print a higher low. Subsequently, a positive trend line had formed on the altcoin’s charts. Furthermore, following the bounce off of this key price point, LUNC’s price entered into a bullish move to break above $0.00006110 and continued to trade above this resistance at press time.

If this bullish momentum continues, then LUNC could also overcome the subsequent resistance level at $0.00006420 as well. In an extreme bullish scenario, the altcoin may flip this level into support and continue to climb to as high as $0.00006870 within the following 2 weeks.

On the other hand, if traders begin taking profit from their LUNC positions, then the cryptocurrency’s price may drop back below the aforementioned $0.00006110 mark. This will then open up the risk of the altcoin’s value potentially dropping to the next benchmark at $0.00005840 in the following 48-72 hours.

If LUNC’s price breaks below $0.00005840, then it will also fall below the positive trend line that had formed on its chart. Consequently, traders may identify this occurrence as a sell opportunity – possibly forcing LUNC’s price down to $0.00005550 as a result.

Meanwhile, at press time, CoinMarketCap indicated that LUNC’s price had risen more than 3.5% throughout the past 24 hours. As a result, the cryptocurrency was valued at $0.00006159 at press time. This positive daily performance had also added to LUNC’s positive weekly streak – elevating LUNC’s gain over the past 7 days to +6.51%.

Despite the substantial rise in LUNC’s price, CoinMarketCap data showed that the cryptocurrency’s amount of trading volume over the past 24 hours had fallen 21.51%. This brought the total down to $19,126,021 at press time.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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