Over the past 24 hours, Terra Classic (LUNC) has shown impressive resilience, defying broader market indecision with a steady climb. Traders eye this price action with growing curiosity, as the asset consolidates above critical exponential moving averages (EMAs). Let’s break down the chart to see what’s fueling this momentum and what could come next.
LUNC Consolidates Gains After a Steady Run
As of the latest hourly candle, LUNC trades near $0.00006032, posting a marginal 0.23% dip at the time of writing. Despite this slight pullback, the price remains well above its cluster of EMAs. The chart shows that LUNC’s recovery started around July 2, when it bounced off the psychological $0.00005500 zone. Since then, consistent higher lows have carried the token upward.
This resilience stands out because the asset spent much of the previous week ranging sideways. The sudden bullish breakout that began on July 9 propelled LUNC above its 20, 50, 100, and 200-period EMAs, which now act as layered support levels.
EMAs Signal a Strong Bullish Bias
Currently, the 20 EMA (red) sits around $0.00005987, the 50 EMA (orange) holds at $0.00005883, the 100 EMA (cyan) hovers at $0.00005792, and the 200 EMA (blue) trails at $0.00005719. These levels indicate a healthy uptrend because the price remains stacked above all these moving averages.
Short-term traders typically view this alignment as a strong bullish continuation signal. When shorter EMAs hold above longer ones in a neat order, upward momentum tends to persist until the market faces a decisive reversal catalyst.
What to Watch in the Next Sessions
Zooming in on recent candles, LUNC appears to be forming a mini consolidation channel near its local high. This pause often signals that buyers are absorbing profit-taking before attempting another push higher. As long as the price stays above the 20 EMA, the path of least resistance remains to the upside.
However, traders should watch for signs of weakening momentum. A decisive hourly close below the 20 EMA could test the 50 EMA near $0.00005883, a level that may attract dip buyers. If both these supports break, the next logical defence sits at the 100 EMA around $0.00005792.
Related article: 24 hours Price Analysis: Terra Classic (LUNC) Price Struggles Near $0.00010374 Resistance Level – Is Bears Gain Control?
Potential Upside and Downside Scenarios
On the upside, a clean break above $0.00006100 could trigger further buying pressure, targeting the next resistance levels near $0.00006300. Given the recent momentum, this move remains plausible if broader market conditions stay stable.
Conversely, if LUNC fails to hold the 20 EMA, the selloff could deepen. While the EMAs below provide multiple safety nets, a full reversal back toward $0.00005500 would signal a loss of the current bullish structure.
Final Thoughts
LUNC’s 24-hour performance shows encouraging signs for bulls, especially with the price stacked confidently above its key EMAs. To maintain this trajectory, buyers must protect the short-term supports and push for a new local high above $0.00006100.
As always, traders should remain cautious. Volatility can strike at any moment, especially when an asset trades near its recent highs. Stay tuned for the next candles, keep an eye on those EMAs, and be ready to adjust your strategy accordingly.
