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The LUNC token has stayed suppressed, generally bearish, after bulls seem to have run out of steam as price action peaked at the $0.00025280 resistance mark. Ever since then, price action has been retracing lower and remains below a notable region of technical indicators.
LUNC Statistics:
Current Terra Classic Value: $0.0001481
Terra Classic Market Cap: $690,883,392
LUNC Circulating Supply: 5,852,464,585,101
Terra Classic Total Supply: 6,814,115,627,640
LUNA CoinMarketCap Ranking: 89
Key Price Levels:
Resistance: $0.0001481, $0.0001500, and $0.0001600
Support: $0.0001400, $0.0001300, and $0.0001200
Terra Classic Bears Are Not Bulging Despite Minimal Upside Correction
Price activity in the LUNC daily market has moved up by roughly 9.00%. Despite this, it can be seen that the market still has a generally bearish outlook. Some of this conclusion is drawn from the fact that price action still seems to fairly lurk around the lowest limit of the Bollinger Bands. This suggests that upside forces are lacking enough steam to stage a strong rebound at this point.
Meanwhile, the last price candle has offered a minimal upside correction. The Moving Average Convergence Divergence (MACD) lines are still trending downward and have crossed below the equilibrium level. The last bar of the indicator is now pale red, which agrees with the minimal upside correction seen in the ongoing session.
LUNC Price Action Eyes Support Above the Middle Limit of the Bollinger Bands
In the Terra Classic 4-hour market, it has been revealed that buyers are trying to rebound off the lowest limit of the Bollinger Bands. Here, a green price candle can be seen rising off the lowest limit of the Bollinger Bands. However, the last price candle is now testing the middle limit of the Bollinger Bands, but its significantly small body shows that upside momentum is now losing momentum.
Also, the MACD bars have delivered a bullish crossover, and its lines are now trending upwards. Likewise, the last bar is still solid green. Consequently, this suggests that upside forces are still active and may push toward the $0.0001275 mark.
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