Terra Classic (LUNC) is facing a period of uncertainty as its price attempts to hold steady amid growing bearish momentum. Over the past 24 hours, LUNC has been caught in a narrow trading range, oscillating between gains and losses. Despite this, LUNC showed a 1.18% surge in strength over that same period. The cryptocurrency community is watching closely for any signs that the token could be heading for either recovery or further decline.

Trading Range and Key Levels

LUNC has traded mostly between $0.00008951 and $0.00008986, showing little signs of breaking out of this range. The 50-period EMA at $0.00008960 has proven to be a short-term resistance level, capping any potential upward movement. On the other hand, the 100-period EMA is acting as a crucial support zone around the $0.00008907 level, keeping the token from slipping into a deeper downtrend.

The RSI divergence indicator paints a bearish outlook for LUNC in the short term. Currently sitting at -15.85, the RSI reflects growing selling pressure and declining market momentum. Furthermore, this negative reading suggests that the bears have taken control of the market for now, and unless there is a strong buying surge, the token could face further downside. Traders will need to watch for any sharp movements in RSI, as it could indicate whether this bearish sentiment will persist.

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Potential Scenarios for LUNC

Over the next 24 hours, LUNC risks breaking below its current support at $0.00008907, which could send the price into a deeper correction phase. If buyers fail to defend this level, LUNC may test the next support zone closer to $0.00008880. Conversely, a break above the 50-period EMA at $0.00008960 could provide a much-needed boost, potentially reclaiming the $0.00008986 mark and beyond.

Conclusion

The Terra Classic token is facing mounting bearish pressure, with key technical indicators signalling that it could struggle to maintain its current price levels. However, a break below the $0.00008907 support could trigger further downside, while a rebound above the $0.00008960 resistance may signal renewed buying interest. Traders should remain cautious as LUNC navigates through this critical phase.