According to Coingabbar Technical Analysis, Yesterday's bullish rally ended with a complete loss of gains as bears took control.
The daily chart for LUNC price indicates the emergence of a long wick on the day’s candlestick, signaling a bearish reversal.
On the hourly chart, a Head and Shoulders pattern has formed, and the neckline is undergoing a retest.
A breach of the neckline by bears could trigger panic selling, potentially leading to levels around $0.00008300 or $0.00007400.
However, if the pattern is invalidated, the coin might revisit the $0.0001300-$0.0002000 range.
KEY LEVELS :
RESISTANCE LEVEL : $0.00010000-$0.00010500
SUPPORT LEVEL : $0.00009200-$0.00008700
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