Terra Classic Price Analysis: LUNC Price Closes to Retest its ATM Mark in September

• Terra Classic (LUNC) price is moving towards an all-time high of $0.00045.
• The LUNC price is up over 65% in the last 24 hours.
• The daily RSI indicator moves into overbought territory.

The price of Terra Classic (LUNC) has been increasing continuously for the last several days. However, the altcoin price declined sharply after its opening where the bulls witnessed an all-time low of $0.00001675 on May 13, 2022. Later on, the buyers got more than 2344% return on their investment in a matter of 4 months.

For the past three weeks, LUNC investors have been extremely aggressive and continue to form a strong bullish candle. Meanwhile, the altcoin is trading up 69% so far this week and the price is on course to reach its all-time high of $0.00045.

Source: LUNC/USDT by Tradingview

The 0.5 level of the Fibonacci retracement level (at $0.00024) was a major accumulation zone for the Terra Classic coin in terms of the daily price scale. If buyers break the all-time level of LUNC this week, the 1.6 level (at the $0.00070 mark) according to the Fibonacci retracement will be the next stop for the bulls.

LUNC coin is up 70.9% this week while the asset is trading at $0.0004311 against USDT at press time. Meanwhile, CMC’s data for the last 24 hours recorded a market cap of $2.65 billion, up 56%. Moreover, the LUNC pair price is in the green zone with a rise of 66.8% at 0.00000002178 Satoshis against USDT.

An increase in trading volume suggests highly volatile sessions and more than average buying today. Therefore, last night speculators saw a 544% increase in trading volume to $2.59 billion. Moreover, the RSI indicator is moving into the overbought territory at the 86-level on the daily price scale.

Conclusion

The price of Terra Classic (LUNC) has been looking very bullish for the last three weeks. The daily RSI is hovering in an overbought zone, so the bulls continue to buy the asset price.

Support level – $0.00030 and $0.00010

Resistance level – 0.00045 and $0.00060

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish any financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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