Terra Luna Classic Price Prediction as $0.00012 Accumulation Continues – Where is the Next LUNC Target?
LUNC, the primary token in the Terra Luna Classic ecosystem, has been simmering for the last four weeks, with support at $0.000118 holding firmly in place. After losing 1.5% in the last 24 hours, LUNC is trading at $0.0001221 at the time of writing, on Thursday, April 5.
The tug-of-war between the bulls and bears appears to be a long way to resolving. However, as accumulation among investors continues, bulls could push for a takeover—one that is big enough to reclaim higher support at $0.0002.
Terra Luna Classic Price has since October last year respected a critical descending trendline, as illustrated on the daily timeframe chart. Bulls have commissioned several targeted attacks to weaken the seller congestion along this line, but their efforts have each time gone down the drain.
That said, the ongoing accumulation could be the momentous force required to pierce through the hurdle and pave the way to a new bullish phase. However, LUNC may lack enough liquidity within the scope of the primary support at $0.00012, which could be the biggest bottleneck in the push for a substantial trend reversal.
The SuperTrend, on the same daily chart, has been holding onto a bearish position since early February implying that the status quo has not changed, and the path with the least resistance is downward.
If bulls let go of support at $0.00012, but with an aim to engage a lower level, for instance at $0.0001, Terra Luna Classic Price could sweep through fresh liquidity, and make a tremendous rebound.
LUNC is to a large extent, not tradable unless the experienced traders due to the choppy market between support at $0.00012 and the immediate resistance at $0.000125.
Although a bullish candle is forming on the four-hour chart it is unlikely to
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