Terra Classic Price Forecast: Buy, Sell, Or Hold LUNC Crypto?

• 1 Terra Classic Price Forecast for January and February 2024 demonstrates the downturn of the price.
• 2 LUNC price is currently trading below the key moving averages demonstrating bearishness.
• 3 LUNC’s price performance over the month is poor as it gave a negative return of 33.55%.

Tera Classic price is in the downtrend currently stuck between the key moving averages, showcasing bearishness on the daily charts. The coin price is halted near the value of $0.000280266 and resuming the downtrend.

The crypto price of Terra Classic (USD: LUNC) shows signs of weakness, losing the gains it made below the key moving averages.

The LUNC crypto price was pushed down by the bears. Its buyers failed to maintain the momentum and started to exit their positions, resulting in a decrease in the crypto price.

Terra Classic crypto has been in a downtrend for the past month, forming lower lows patterns, and facing resistance from the upper resistance levels, which prevented it from breaking out of the trend.

The price action indicates that Terra Classic crypto has been under selling pressure, and the buyers have been passive. On the other hand, the sellers have a strong advantage and continue to make short positions.

At press time, LUNC crypto was trading at $0.7096 with an intraday gain of 4.48% breaking below the key EMAs, showing bearishness on the charts. Moreover, the intraday trading volume is 62.216 Million. The market cap of LUNC crypto is 0.0905 Billion.

Over the span of one week, LUNC crypto has experienced a decrease of approximately 4.39%. This decline has been seen in the course of a month also, reaching around 33.55%. Looking back over a three-month period, GME cryptos have gained by about 106.50%, while gaining around 27.71% over the last six months. Furthermore, the crypto’s performance throughout the year has been lackluster, with a year-to-date slump of approximately 14.10%.

Technical Analysis of Terra Classic Crypto Price in 1-D Timeframe

Source: Terra Classic.1D.USD by TradingView

Terra Classic crypto is currently trading below the 200-day SMA, which does not support the price trend. However, the price could break below these SMAs and move lower if selling pressure increases.

The RSI indicator is currently at 42.45, which is in the neutral zone. However, the 14-day SMA is above the RSI curve, which is a bearish signal.

The MACD indicator is also bearish, with the MACD line crossing below the signal line. It indicates that the Terra Classic crypto is likely to continue to fall in the near future.

Overall, the technical indicators suggest that Terra Classic crypto is bearish in the short term. However, if it can maintain the current level, it could continue to rise in the long term.

Summary

Terra Classic (USD: LUNC) technical oscillators also support the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the downtrend may continue in the LUNC crypto price. Terra Classic Price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.

Technical Levels

Support Levels: $0.000100922

Resistance level: $0.000100922

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.

Steve Anderrson

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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