As the final weekend of September unfolds, Terra Classic (LUNC) is showing signs of resilience around the $0.0000546 mark after a volatile trading week. Despite strong bearish pressure earlier, the asset is now consolidating near a critical support zone, a move that could pave the way for a potential bullish reversal heading into Monday.
Downward Channel Still Intact, But Momentum Is Shifting
LUNC continues to trade within a descending channel, a bearish structure that has dominated price action throughout September. However, unlike previous weeks, the current price action suggests that selling momentum is losing steam. Buyers have stepped in near key support zones, preventing further declines and indicating a possible shift in sentiment as the month comes to an end.
According to the chart below, the consolidation around $0.0000540–$0.0000550 shows market participants are positioning for a decisive move, with early technical signals suggesting that move could be upward. Despite the overall decline in the crypto market, LUNC signalled a significant 3.65% uptick over the last 24 hours.
EMA Levels to Watch for a Breakout
The Exponential Moving Averages (EMAs) are still acting as overhead resistance; however, a breakout above these levels could alter the entire market structure. Key levels to watch include:
- 20 EMA: $0.0000546 – Current pivot zone and first short-term resistance.
- 50 EMA: $0.0000560 – A breakout above this could trigger stronger bullish momentum.
- 100 EMA: $0.0000574 – A decisive close above here could flip market sentiment.
- 200 EMA: $0.0000585 – Long-term resistance; breaching it could signal the start of a new trend.
If LUNC closes the weekend above the 50 or 100 EMA, buyers could gain confidence and push price toward $0.0000615–$0.0000626 early next week.
The current support zone between $0.0000530 and $0.0000510 has been tested multiple times without breaking, a strong sign that buyers are defending this range. This base provides a solid launchpad for potential bullish action as market liquidity builds over the weekend.
Related article: 24 Hours Price Analysis: Terra Classic (LUNC) Tests Key Support Zone — Will the Bulls Defend $0.00005395 Or More Dip to $0.00005000 Is Imminent?
RSI Hints at a Positive Reversal
The RSI divergence indicator is showing signs of bullish divergence, suggesting that downward momentum is weakening. This aligns with recent price behaviour, where lower lows have not been matched by equally strong RSI dips, a classic precursor to a trend reversal.
Monday Outlook: Bulls Eye a Breakout
Looking ahead, the next 48 hours could be pivotal. If bullish momentum builds, LUNC could break above $0.0000560 and eye a run toward $0.0000615 by early next week. Even a mild push beyond current resistance levels would significantly strengthen the technical outlook going into October.
Alternatively, failure to hold above the support level might delay the reversal, but the prevailing signals suggest a potential early-week rebound.
Final Thoughts: Calm Before the Surge?
After weeks of downward pressure, Terra Classic’s weekend consolidation around $0.0000546 could mark the beginning of a momentum shift. With technical indicators aligning and support holding firm, the stage is set for a possible bullish breakout as the calendar flips to October. All eyes now turn to Monday, where a push above EMA resistance could set the tone for a much stronger month ahead.
