The LUNC currency fell for three days, reversed from a falling trendline, and broke through local support at $0.000167.
If a daily candle falls below support, the coin's price, currently $0.000165, will intensify selling pressure. This trend lowers Terra coin prices even more.
reversed from a trendline that was falling, and broke through local support at $0.000167.
Currently trading at $0.000165, the coin's price will increase the selling pressure if a daily candle closes below the indicated support. This new trend promotes the price of Terra coins to decline even more.
The price of Terra Classic coins is steadily declining under the control of a downward trendline. A bullish divergence in the RSI indicator, which measures the current coin price's speed and magnitude, suggests that buyers have a better probability of breaking the overhead trendline. The LUNC coin's intraday trading volume is $89.5 Million, representing an 11.2% rise.
The price action of LUNC has been steadily declining over the past two months under the guidance of a descending trendline. Since this resistance has been broken three times by the altcoin, it is clear that traders are actively selling on rallies.
The price of LUNC has reversed from the overhead trendline amid the continuous ambiguity in the cryptocurrency market. Prices dropped 8% as a result, and they are now trading at $0.000165.
The coin price may drop another 10% to re-visit the last swing low support range of $0.00015-$0.000147 if the market mood is still unfavourable. Losing the indicated support will increase the selling zeal and cause the price to fall to the psychological level of $0.0001, according to CoinGabbar.
On the other hand, a potential breakout from this trendline would signal the beginning of a price rebound.
Relative strength index: In contrast to the sideways price movement, the daily-RSI slope clearly increased, showing that purchasing activity is increasing at the lower level. The likelihood that the LUNC price will breach the overhead trendline is further increased by this bullish divergence.
EMAs: As a result of the current bearish reversal, the coin price has fallen below the slope of the 20-day EMA, giving sellers of the market an additional advantage.
