TERRA LUNA PRICE ANALYSIS CMP-$0.00009350: Bulls ready to roar

LUNC breaks 7-month resistance, signaling a breakthrough.

After a consistent decline over the past seven months, the price of LUNC finally broke through a significant resistance level on July 13th. This resistance, which had been exerting pressure on buyers, took the form of a downward sloping trendline within a wedge pattern. This breakthrough indicates an early indication of a trend reversal. As a result, coin holders can now anticipate several potential price targets based on this setup.

Following the breakout, the price of LUNC has experienced a remarkable surge of 12% over the past three days. As of the present moment, the altcoin is trading at $0.0000940. The subsequent rally has been accompanied by a significant increase in trading volume, indicating a strong conviction among buyers in the market.

The LUNC price currently encounters resistance at $0.00009700, with a significant obstacle at $0.00010200. A decisive breakthrough above $0.00010200 could signal the start of a substantial uptrend, potentially leading to a rise towards $0.00010500. Further upward movement might even pave the way for the price to reach the resistance level of $0.00011500.

However, if the $0.00009700 barrier proves to be insurmountable, a downward trend may ensue. Initial support can be found at $0.0000900, followed by a more substantial support level at $0.00008700. Should the price fall below $0.00008700, it could continue its decline towards the $0.00008300 support level. Further losses may intensify selling pressure, potentially causing the price to drop below $0.00008000.

According to Coingabbar Price Analysis, The market capitalization of this LUNC is estimated to be $539,967,389. The 24-hour trading volume for the coin is around $99,012,523.

KEY LEVELS :

RESISTANCE LEVEL : $0.00009600-$0.00010200

SUPPORT LEVEL : $0.00009000-$0.00008600

"Will LUNC hit a new yearly high? Share your views below in the comments as the completion of a falling wedge theoretically sets predetermined targets at swing highs formed during its development."

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.