Terra Classic (LUNC) has been on a steady incline over the past 24 hours, showing signs of recovery after prolonged consolidation. However, the recent chart presents mixed signals, suggesting a potential retracement could be on the horizon.

Current Price Movement & EMA Analysis

As of the most recent data, LUNC is trading around 0.00008725, marking a 3.89% increase over the past 24 hours. However, LUNC had managed to reach a daily high of 0.00008872, before facing selling pressure. The price has been oscillating around the 0.00008800 zone, struggling to maintain upward momentum.

The chart features Exponential Moving Averages (EMAs) set at 20/50/100/200 periods. The 200-period EMA is acting as a significant resistance, located at 0.00008546, which LUNC has been unable to break through decisively. The price has slightly crossed above the 50-period EMA (currently at 0.00008575), which could signal some short-term bullish strength. However, it remains crucial for LUNC to hold above these levels to prevent further downside.

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RSI Divergence

The Relative Strength Index (RSI) divergence indicator shows a notable divergence at -4.77, signalling potential weakness in the current uptrend. This could indicate that while the price has been pushing higher, the momentum behind the move is waning, raising concerns about an upcoming reversal. The RSI’s downtrend confirms that selling pressure is building up, putting the recent price increase in jeopardy.

Conclusion

In conclusion, LUNC is displaying signs of short-term recovery, but the ongoing struggle to break through key EMAs and the bearish RSI divergence may lead to a period of consolidation or even a retracement. Traders should monitor the 0.00008546 support and the 0.00008800 resistance closely, as a decisive break above or below these levels will determine Terra Classic’s next move.