24 hours Price Analysis: Terra Classic (LUNC) Price Struggles Near $0.00010374 Resistance Level – Is Bears Gain Control?

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Terra Classic (LUNC) has faced bearish pressure over the last 24 hours, with the price decreasing by 5.52% to trade around $0.00009949. Despite several attempts to break higher, the bears have maintained control, preventing significant upward movement. Technical indicators like the EMAs and RSI show that LUNC could remain under pressure in the coming sessions.

EMA Indicators Reveal Bearish Pressure

The Exponential Moving Averages (EMAs) show a clear resistance setup. The 20 EMA is positioned at $0.00010066, while the 50 EMA is slightly below at $0.00010075. These values are higher than the current trading price, which indicates that LUNC is struggling to regain bullish momentum. The 100 EMA, standing at $0.00010010, further solidifies this resistance zone.

The price has been hovering near the 200 EMA at $0.00009774, currently serving as a critical support level. A drop below this EMA could signal a bearish continuation, as the price has previously bounced off this level multiple times. Traders should monitor the 200 EMA closely for potential breakdowns, which could trigger further selling pressure.

RSI Signals Further Weakness

The RSI divergence is particularly concerning, with the RSI value at -12.38. This negative divergence shows momentum is fading, and there is currently little buying interest in the market. While the RSI isn’t close to the overbought zone, the persistent negative reading points to ongoing weakness, which could lead to further declines if bearish sentiment prevails.

In particular, the lack of upward RSI movement suggests that buyers are either cautious or unwilling to intervene at current levels, further solidifying the bearish control in the market.

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24-Hour Price Forecast

LUNC’s price will likely continue facing downward pressure if it remains below the 20 and 50 EMAs. If the price breaks below the 200 EMA at $0.00009774, we could see a sharp decline towards lower levels. However, if bulls regain control and push the price above the 20 EMA, there is potential for a short-term recovery.