Terra Classic (LUNC) has been defending the critical support zone around $0.00008900 as it continues to trade within a tight range. Over the last 24 hours, LUNC’s price slightly recovered, now trading at $0.00009210, up by 0.96%. Despite this upward movement, the coin has yet to overcome its resistance, especially around the $0.00009300 level. As the bulls attempt to regain control, they must maintain momentum to avoid another potential drop.

EMAs Suggest Consolidation Phase

The exponential moving averages (EMAs) are playing a critical role in shaping LUNC’s price movement. The 20-period EMA (red) is currently sitting at $0.00009115, acting as immediate resistance. The 50-period EMA (orange), positioned slightly above at $0.00009086, reinforces this barrier. LUNC has yet to break above these levels convincingly. However, the 200-period EMA (blue) is below the current price at $0.00009085, signalling that the long-term trend remains bullish.

The 100-period EMA (green), at $0.00009101, is close to the 200 EMA, providing an additional layer of support as LUNC attempts to stabilize. A sustained move above the 50 and 20 EMAs could confirm bullish momentum, but caution is advised until that happens.

Related article: Is Cardano’s 7.4% Price Drop a Sign of a Bigger Crypto Market Crisis?

RSI in Neutral Zone, Signaling Uncertainty

The RSI is currently at 50.02, indicating a neutral stance in the market. The lack of strong buying or selling pressure leaves the price action undecided. However, the fact that the RSI is neither overbought nor oversold allows the bulls to mount a potential rally.

If the buying pressure picks up and the RSI climbs, this could provide the necessary bullish confirmation for LUNC to break through key resistance zones.

Conclusion: LUNC’s Range-Bound Trading Continues

LUNC remains in a critical phase as traders await clearer signs of direction. The coin is currently range-bound, with $0.00008900 acting as strong support and $0.00009300 as overhead resistance. Traders should monitor the EMA levels and RSI for further clues. A bullish rally could follow if the bulls can push the price higher and break above the $0.00009300 mark. On the other hand, failure to maintain current levels may lead to another test of support around $0.00008900.