Terra Classic, colloquially known as LUNC, is currently trading at an impressive $0.000065. In the past 24 hours, this cryptocurrency has witnessed a slight dip of 0.25%, but has surged over 12% in the last 7 days underscoring.
According to CoinMarketCap, Terra Classic has secured its position at #94, boasting a substantial market capitalization of approximately $375 million. In terms of supply metrics, the market is awash with nearly 5.7 trillion LUNC coins in circulation. However, details regarding its maximum supply remain shrouded in mystery.
Analyzing the daily chart reveals pivotal price levels that traders and investors should keep a close watch on. The pivot point for Terra Classic is precariously set at $0.00006721. Notably, this isn’t just a random figure; it’s the 50% Fibonacci retracement level and also corresponds to the triple top pattern, a crucial technical indicator.
Resistance and Support Levels
Moving upwards, the cryptocurrency encounters its first resistance at $0.00007033, synonymous with the 61.8% Fibonacci level. Beyond that, traders should keep an eye on the resistance level set at $0.00007464. On the flip side, if Terra Classic were to face bearish pressures, its immediate support is established at $0.00006423, marking the 38.2% Fibonacci retracement level. Deeper supports can be identified at $0.00006059 and then at $0.00005449.
In conclusion, the overall trend for Terra Classic appears to be bullish as long as the price remains above the critical $0.00006059 mark. Conversely, slipping below this level might invite bearish tendencies. Given the current market dynamics and technical indicators, Terra Classic might test the resistance level of $0.00007033 in the upcoming days. As always, it’s imperative for traders and investors to stay informed and tread wisely in this volatile crypto landscape.
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