Towards the end of June, LUNC/USD bulls aggressively took the market. The bears were like relegated for those three days. The price increased from $0.00005913 to $0.00014359. The Relative Strength Index for that time showed the line retracing a downward position after it had entered the overbought region. The (then) sudden rise in the value of Terra Classic after it crashed was due to cooperative efforts by organizations to revive it. This increased the number of people in possession of the coin after many holders have sold out. At the present, the price of Terra Classic is correcting to the support level of $0.00008894.
Terra Classic Price Statistic Data:
- LUNC/USD price now: $0.00008894
- LUNC/USD market cap: $588,196,172
- LUNC/USD circulating supply: 6,579,000,000 LUNC
- LUNC/USD total supply: 6,906,229,037,364 LUNC
- LUNC/USD coin market ranking: #213
- Resistance: $0.000014805, $0.000010994, $0.000010033
- Support: $0.00008894, $0.00005810 $0.00005642
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Terra Classic Analysis: LUNC/USD Bulls Need to Be Encouraged
By all indications, the market is trending down. Although looking at the 21-day moving average and the 9-day moving average, the market appeared to be ranging sideways between the 1st of August and to 15th of August. It looks like the market was undecided as to which direction to take. But when we consider the slight sloppiness of the two moving averages, we can say that the price is falling slowly. More efforts are needed to encourage bulls into the market to salvage the value of the coin at this challenging time.
Terra Classic Analysis: Information From the Indicators
The fast and slow lines in the Relative Strength Index (RSI) are measuring in the lower region. The RSI line is measuring 39%, while the signal line measures 46%. This is a downtrend. According to MACD, the bearish histograms are not so strong. They are performing not too far from point zero of the histogram. The two lines are very close to each other. The market is ranging. Bulls are needed in this market otherwise the price will continue to range or fall more (though very slowly).
Terra Classic Analysis: LUNC/USD 4-Hour Chart Point of View
On today’s 4-hour chart, there has been a lot of market indecision or deadlock between the forces of demand and supply. But, in the third session, the bulls took the market. Mostly, in the market, we can see that there seems to be a general lack of interest resulting in very flat candlestick patterns on the chart.
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