Price Analysis: Terra Classic (LUNC) Finds Support Amidst Volatility Surging by 2.91% in 24-Hours – What’s Next?

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Terra Classic (LUNC) has been volatile over the last 24 hours, fluctuating prices between support and resistance zones. Despite recent pullbacks, LUNC has demonstrated strength by surging by 2.91%. However, key indicators suggest that LUNC may find stability in the short term.

EMA Analysis: Key Support Holds Strong

LUNC has been battling to stay above critical support levels, with the 200-EMA at $0.00008099 emerging as a strong floor for the asset. This moving average often represents long-term trends, and holding above this level indicates that LUNC still has some strength left in the market.

At the time of writing, the price is positioned at $0.00008333, slightly below the 20-EMA (red line), which stands at $0.00008386. The 20-EMA often signals short-term momentum, and trading below this line suggests that selling pressure may be mounting. However, the price is above the 100-EMA ($0.00008249), which acts as a crucial mid-term support. This sets the stage for potential consolidation if the 100-EMA continues to hold.

RSI Divergence Signals Potential Reversal

A closer look at the RSI Divergence on the chart shows a value of -1.96, indicating that bearish sentiment could dominate the market in the near term. The negative divergence points to weakening buying pressure, potentially foreshadowing a price drop if bears maintain control. Traders should watch for signs of divergence fading, which could suggest a reversal.

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Next 24 Hours: Testing Support and Resistance

The next 24 hours will be critical for LUNC as it tests key resistance at the 20-EMA and finds support around the 100-EMA. If bulls manage to push the price back above $0.00008386, this could reignite short-term bullish momentum, potentially targeting the $0.0000840 resistance level. On the other hand, a breakdown below the 100-EMA could lead to a test of the 200-EMA at $0.00008099.

Traders should be prepared for potential volatility and carefully monitor these EMAs to confirm the next move. If LUNC fails to hold its ground above the 100-EMA, it may signal a deeper correction in the market.