Terra Classic (LUNC) Faces Resistance as Price Reaches Key Technical Levels, Surging by 3.89% in 24 Hours

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In the past 24 hours, Terra Classic (LUNC) has experienced a rebound from recent lows near $0.00008200, now trading close to $0.00008500. However, the cryptocurrency remains trapped below critical resistance levels, suggesting that bulls have more work to do before reclaiming higher ground.

EMAs: Strong Resistance Looms Ahead

The Exponential Moving Averages (EMAs) are creating a zone of resistance for LUNC. The price is struggling to break above the 50-period EMA, currently at $0.00008451. Meanwhile, the 100-period EMA at $0.00008545 and the 200-period EMA at $0.00008669 represent additional hurdles.

Historically, when the price remains below the 200-period EMA, the market is considered bearish in the short term. For LUNC to flip this sentiment, these levels must be cleared convincingly. Failure to do so would keep the market in a consolidation phase, with risks of a retest of lower support levels.

RSI Divergence: A Glimmer of Hope for Bulls

Despite the price struggling with resistance, the RSI divergence offers a bullish outlook. The current RSI divergence of 3.49 suggests that buyers are stepping in despite the market’s sideways action. This positive divergence often hints at a potential trend reversal or at least a short-term rally, giving bulls a reason to remain optimistic.

However, caution is still warranted. While the RSI divergence signals strengthening buying pressure, price action needs to follow through by breaking above key resistance zones.

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Outlook for the Next 24 Hours

LUNC will likely face significant resistance near the 100-period and 200-period EMAs in the coming hours. A breakout above $0.00008569 could open the door to further upside, potentially targeting the $0.00008669 level. On the flip side, failure to break above the 50-period EMA at $0.00008545 could result in a pullback toward support at $0.00008300 or even $0.00008200.

The next 24 hours are crucial as LUNC builds on its recovery or consolidates under pressure. Traders should watch closely for a breakout or rejection at the key resistance levels.