Terra Classic (LUNCUSD) Price Forecast: December 7
Terra Classic is currently trading in a strong bullish market. There is a possibility for a price breakout and bullish continuation if the bulls can add more strength to their potential buying and the market price sustains above the $0.03561 high mark. The potential rally could surge above the $0.0002797 higher level to hit the $0.0003000 upper resistance value and beyond.
Key Levels:
Resistance Levels: $0.0001900, $0.0002000, $0.0002100
Support Levels: $0.0001000, $0.0000900, $0.0000800
LUNC (USD) Long-term Trend: Bullish (Daily Chart)
LUNCUSD is in a positive movement today. The price is strongly trading in a bullish momentum in its higher time frame. This price breakout and bullish continuation have prepared the buy traders for future gain and signify a buy signal.
In the previous actions the coin has been having high interference from buyers which made it easier for the crypto to maintain stable upside moves in recent times.
The drop in the price of Terra Classic to the $0.0002274 low value as the daily chart commenced today has no serious effect on the market as the price remains in an uptrend.
As a result, if the bulls can exert extra effort in the price action and break above the $0.0002797 previous supply level; further selling pressure will be put on hold.
Additionally, based on the outlook, should the bulls go higher and close above the $0.0002797 high mark, a bullish breakout confirmation will reflect the improved market sentiment in its higher time frame.
LUNC (USD) Medium-term Trend: Bullish (4H Chart)
On the medium-term time frame, prices of Terra Classic are above the moving averages and have confirmed a bullish momentum breaking the previous high. The pair is in a smooth breakout and bullish continuation as can be seen from the chart below.
The bulls have sustained the crypto market at the $0.0002785 supply value during the past action which has made it possible for the coin to stay above the trend line and remain stronger at the moment.
After completing the lows at a $0.0002283 low value, the coin price rises significantly above the resistance trend lines at the $0.0002452 level as the 4-hour chart begins today. This is due to a high bullish impact on the market price.
Hence, the LUNCUSD price is suggesting more of a price breakout and bullish continuation on the daily stochastic by pointing upwards. In light of this, the pair may likely reach the $0.0003000 upper resistance level sooner in its medium-term perspective.
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