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February 22, 2024
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Terra Classic Price Prediction: Here is What’s Next for the LUNC Price Rally!

The post Terra Classic Price Prediction: Here is What’s Next for the LUNC Price Rally! appeared first on Coinpedia Fintech News

The Terra Classic price has been soaring since the last few days of November following an investment in its algorithmic stablecoin, USTC. The move was an attempt to rejuvenate the fallen and debugged stablecoin, which also witnessed a significant rise in its value. However, the USTC price failed to sustain the gains, but the LUNC price maintained a healthy upswing despite an interim pullback that occurred in between.

The LUNC price has demonstrated acute strength in history, and a similar price action has been witnessed in recent times. With this, the token is slowly approaching crucial levels, which may be the threshold of the upcoming bull run. In the short term, the token is facing some bearish actions, but the bulls can hold the price close to the gains. This suggests that the bulls will continue to remain active and trigger a fresh upswing very soon.

Ever since the price triggered a healthy upswing, it has been trading within an ascending parallel channel. The Bollinger bands also have displayed immense variation, indicating the token has been volatile However, the bands have been trading parallel, indicating a drop in volatility levels fueled by a drop in volume. Besides, the MACD is also closer to flashing a buy signal as the selling volume depletes.

Now that the bears are actively taking out minor profits, the LUNC price could find a strong support base between $0.00017 and $0.00019. Therefore, the price is expected to manifest a strong bullish move, as the squeeze in Bollinger bands suggests. Therefore, in the coming days, a notable rise could lift the Terra Classic price towards the upper resistance above $0.00031 with a significant growth in the buying pressure.

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