TERRA CLASSIC Prediction, Is Price on Brink of Catastrophic Collapse
- Terra tokens experienced a remarkable 30-day surge, with LUNC price soaring by over 325% to reach a peak of $0.00028000.
- On December 3, 2023, the LUNC chart reveals a golden cross, bolstering investor confidence and signaling a favorable period for LUNC.
- Terra Classic faces a decline in price following the announcement of founder Do Kwon's extradition to the US, where he will confront criminal charges.
TERRA CLASSIC hits 14-month high, meets $0.0000280 resistance
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According to Coingabbar Technical Analysis, Terra Classic's upward momentum is supported by a rounding bottom pattern, reinforcing its current rally.
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Despite a 9-day consecutive rally, concerns arise as profit booking occurs, leading to three consecutive red candles and a 28% drop in the altcoin's value.
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Bulls struggle to maintain control as the LUNC price succumbs to a bearish influence, following a failure to hold a key level.
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The November rally in Terra Classic (LUNC) sees a cooldown on December 4, with an ongoing pullback occurring within a descending channel.
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LUNC appears poised for a breakout from a descending triangle pattern on the 4-hour chart.
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A sustained pullback could lead to a retest of a two-week-long ascending trendline, presenting an opportunity for bulls to seek a reversal.
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If the price remains above the $0.000250 support level, momentum may resume, targeting a resistance level of $0.0002800, and potentially, $0.0003200.
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Conversely, increased bearish influence could drive the LUNC price down to test the $0.0001950 support level. Further dominance by bears may lead to a test of the lower support level at $0.0001550 in the future.
KEY LEVELS :
RESISTANCE LEVEL : $0.00021400-$0.00022500
SUPPORT LEVEL : $0.00019500-$0.00018000
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
