Terra Classic: Is LUNC's Rising Channel Set to Ignite Market

Terra token show bullish momentum, hinting at trend reversal

• Terra ecosystem tokens experienced a significant price rally, following Terraform Labs and co-founder Do Kwon reaching a settlement in principle with the U.S. Securities and Exchange Commission (SEC).

• The #Terra Classic token is currently contending with the bearish-aligned 20 and 50 EMAs on the daily chart, following a recent death cross.

• The recovery rally is rebounding from the 78.60% Fibonacci level and is now challenging the 61.80% Fibonacci level.

• The rising channel indicates an underlying improvement in the trend.

• According to Coin Gabbar analysis, If supported by a broader market recovery, the #Terra Classic ($LUNC) price could reach the $0.00015 mark or the 50% Fibonacci level.

• Conversely, if the bulls fail to breach the upper boundary of the channel and the price breaches the lower boundary, it may drop to the $0.000080 level.

KEY LEVELS :

RESISTANCE LEVEL : $0.00015000-$0.00021000

SUPPORT LEVEL : $0.00008000-$0.00005000

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