Terra Luna Classic (LUNC) continues to print bearish red candles on the price charts and potentially threats dropping to $0.000241. LUNC holders hoping for a bounce back up to the $0.0003 price levels may have to wait longer than expected.
From a technical analysis perspective Terra Luna Classic (LUNC) is still in a downtrend and the overall sentiment remains bearish.
Will LUNC be able to recover back to $0.00059?
Terra Luna Classic (LUNC) Crypto Price Prediction
Over the last 24 hours Terra Luna Classic (LUNC) has printed a series of red candles on the 4-hour time frame with a swing low of today down to $0.000245. Another rejection at the 20-day moving average has led to negative price continuation.
LUNC still resides within a falling wedge following the recent price action which looked like a fake out. This means that the price of LUNC can still fall back below $0.000241 before bouncing back up to the upside.
LUNC/BUSD – 4 Hour Time Frame.
As we can see the last 24 hours have been quite volatile for Terra Luna Classic, the bulls are losing control as trading volume drops off and fear remains amongst LUNC holders.
Typically, a falling wedge is a bullish reversal pattern, whilst there is a good chance we can see another swing low down to the support trendline at $0.000236 this could also highlight an area of value to investors who are looking to dollar cost average.
If the bulls sweep in around this level and there is enough accumulation and volume we could see a bounce at this particular level back through $0.000241 and the inception of a new uptrend to retest the psychological barrier and critical resistance level of $0.0003 for LUNC.
If the support level of the falling wedge is lost, Terra Luna Classic (LUNC) crypto could potentially be at risk of dumping down to the next vital support level of $0.000218. This is a support level that was written in on the 23rd September 2022.
LUNC/BUSD – 4 Hour Time Frame.
The major correction from July 2022 and is quite similar to the correction of September 2022. Both impulse waves consisted of being overbought and euphoric as a result of a rapid paced bull run.
In July the price corrected by 55.29% from the swing high to swing low and then traded sideways for 57 days before beginning a new uptrend towards $0.000595 following accumulation at lower price levels.
When Terra Luna Classic (LUNC) hit a peak of $0.000595 in September, the price fell by as much as 69.75% to around $0.000179. LUNC has been moving sideways for about 42 days and may be getting ready for the next upward move if there is enough solid accumulation and interest from investors at these lower price points, similar to what happened before.
According to Coinmarketcap Terra Luna Classic (LUNC) crypto now has a market capital of $1.53 billion, another $100 million worth of valuation has been stripped away in the last 24 hours, LUNC has now pulled back to position #34 amongst other cryptocurrencies.
While Terra Luna Classic might be a good option to keep for the next crypto bull run, I believe its growth potential is restricted for the rest of the crypto winter since LUNC has already experienced two phases of excitement and downturn in the market cycle.
Terra Luna Classic Video Analysis
IMPT Token to Outperform Terra Luna Classic?
A good way to potentially maximize your gains during a crypto bear market is to expose yourself to some of the best crypto presales.
Whilst LUNC has delivered a solid 1,500% returns from the summer lows of this 2022, upside potential is now rather limited and the trend still remains bearish.
We recently analyzed Tamadoge following an extremely successful presale which yielded over 1,900% returns for Beta phase pre-sale investors, another coin we are now looking at which could deliver similar levels of growth is the IMPT Token.
The IMPT Token presale has already raised a staggering $5,648,298 in just two weeks during a bear market. The mission and vision of the IMPT Token is to connect socially responsible brands with businesses and individuals who wish to reduce their carbon footprint.
IMPT Token has gathered massive amounts of bullish momentum already and holders anticipate a pump upon token launch due to the high levels of investor appetite and demand.
A recent tweet from the IMPT developers also reflects that IMPT Token is expanding its network of affiliate partners to boost overall adoption and long-term growth potential. These particular firms, such as Netflix, Microsoft, Gamestop (and more) have partnered with IMPT to purchase carbon credits and significantly reduce their negative contribution to the climate crisis.
Overall, IMPT Token strives to help reduce global warming and the average surface temperature of the earth.
It is recommended to conduct your own due diligence with any crypto presales. You can head over to the official impt.io website and conduct your own research by reading the whitepaper. Could IMPT Token potentially be the next 10x crypto?
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