Terra Classic (LUNC) has seen a steady rise in its price, climbing by 4.55% over the past 24 hours and reaching a high of 0.00009278. This price increase relieves traders, indicating that LUNC may be entering a new phase of upward momentum. To better understand this rally, we’ll closely examine the technical indicators and the potential challenges LUNC faces as it approaches key resistance levels.
EMA Alignment Strengthens Bullish Sentiment
One of the strongest signals for LUNC’s bullish trend is its position relative to the Exponential Moving Averages (EMAs). The 20-EMA, located at 0.00009035, serves as a critical short-term support level. Similarly, the 50-EMA at 0.00008910 and the 100-EMA at 0.00008791 offer additional reinforcement, with the 200-EMA trailing at 0.00008654. This EMA configuration creates a robust base of support, especially since the token is trading above all four EMAs.
The tight alignment of the 20-EMA and 50-EMA underscores the short-term bullish sentiment. A steep incline in these averages would typically signal an acceleration of buying pressure, which could push LUNC even higher. Additionally, the convergence of these EMAs indicates that LUNC’s price may continue trending upward in the short term, as traders are inclined to view dips as buying opportunities.
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RSI Divergence Suggests Room for Further Growth
The RSI Divergence (5, 14) reading of 13.85 points toward strengthening bullish momentum. This divergence suggests that there’s still room for further growth before LUNC approaches overbought territory. The RSI’s current level provides confidence to traders, showing that buying activity is on the rise without indicating an immediate pullback risk.
The current RSI level suggests a positive outlook, indicating that LUNC could potentially extend its rally. As the token shows continued resilience, traders may feel encouraged to hold their positions or increase their investments.
Key Resistance Levels and Price Outlook
LUNC’s next significant challenge lies at the 0.00009600 resistance level, where sellers could emerge to take profits. A successful break above this level would open the door for a run toward 0.00009800, with the potential to test the psychologically significant 0.00010 mark. However, if the token fails to break past these barriers, it could retrace toward its support levels at the 20-EMA (0.00009035) and the 50-EMA (0.00008910).
Given the bullish EMA setup and the healthy RSI reading, LUNC appears well-positioned to continue its upward trajectory. However, traders should remain cautious, as profit-taking at resistance levels could lead to short-term volatility.
