The Terra Classic course has increased by almost 50% in recent days. With this, LUNC now faces significant Fib resistance.
LUNC Price Prediction: Will LUNA Classic be Bullish?
The last LUNC price prediction was four weeks ago. As we write, “LUNC price bounced off support between $0.0001277 and $0.00016124 and is now at 0.382 Fib resistance around $0.000192. Just above, the 50-day EMA acts as additional resistance around $0.0001989.
If LUNA Classic breaks these resistances, LUNC might target the Golden Ratio resistance at the downtrend line around $0.00023. On a break of the trendline, LUNC could break out higher to target the next Fib resistances around $0.0003 and $0.00042. If LUNC gets a bearish rejection, strong support still awaits LUNC price between $0.0001277 and $0.00016124.
The Terra Classic course faces significant resistance at the Fib level
LUNC price reached the 50-day EMA at around $0.00017086 and even briefly hit the 0.382 Fib level at around $0.00018, where Terra Classic currently appears to be encountering a bearish rejection. However, the MACD histogram has been trending upwards for the past few days and the MACD lines are also crossed upwards in the daily chart.
The RSI, on the other hand, is neutral and gives neither bullish nor bearish signals. Overall, the price of LUNC is up around 55% since hitting a new low for the year at around $0.00012 a few days ago.
In the 4H chart, the Cross of Death remains intact
On the 4H chart, the Death Cross remains intact, confirming the short-term downtrend. However, here too, the MACD histogram is bullish and the MACD lines are crossed bullish.
The RSI, on the other hand, is in heavily overbought regions. However, it does not show a bearish divergence. If LUNC price corrects now, Terra Classic will find the next significant Fib supports at around $0.00016115 and $0.000145 at the latest.
On the other hand, if LUNC breaks to the upside the 0.382 Fib level at around $0.00018, the next significant Fib resistance awaits at around $0.00022.
Will the price of LUNC break the downtrend line on the upside?
There is also a downtrend line at the 0.382 Fib level at around $0.00018, the bullish break of which could cause prices to rise sharply. Otherwise, LUNC still finds strong support between $0.00012 and $0.000137.
Against BTC, LUNC price is at the 50-day EMA resistance
Against BTC, the LUNC price sits at the 50-day EMA resistance, through which also passes an important resistance in the golden ratio. On a break up, LUNC might target old highs. Additionally, the MACD histogram is bullish and the MACD lines are crossed bullish.
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