Making a surprising bullish comeback in the last few days, the LUNC price has skyrocketed in an unprecedented way. Rising more than 100% in the last ten days, the exponential rise for Luna Classic comes as a bullish relief.
The uptrend continues to gain momentum and shows hardly and signal of a pullback for a breather phase. Therefore, the LUNC price can shoot past $0.00015 as per Terra Classic price prediction.
Source- Tradingview
The LUNC price action made seven out of eight bullish candles in the last eight trading sessions to make huge engulfing candles. With the increased demand supporting the breakout rally, the LUNA coin price keeps a positive stance in the daily chart.
Currently, the ongoing recovery rally is approaching the overhead resistance of the $0.00015 mark and teases a bullish break. Moreover, the improving market sentiments bolster the breakout likelihood.
Currently, the altcoin trades at $0.000138946 following the 17.50% jump last night reflecting a boom in buying pressure.
Technical indicators:
RSI indicator: The daily RSI line reflects a strong bullish trend in motion as it enters the overbought territory. Further, the indicator shows no signal of divergence while the 14-day SMA mimics the trend.
EMAs: With the riisng bullish influence on the daily chart, the 50D and 200D EMA prepare for a golden crossover. This bullish event will signal a trend reversal and increase the entry of bullish players.
Will LUNC Price Give Another 50% Rally?
As the altcoin season approaches, there is a growing likelihood of a FOMO-driven rally in coins like LUNC. Additionally, the market recovery is increasing the hype and recklessness among traders, making them more inclined to take risks. As a result, some arbitrage traders may be able to profit from the upcoming price increases.
From the technical analysis, an inverted head and shoulder breakout fuels the LUNC price rally and may soon challenge the $0.00015 mark. As the demand outgrows, the altcoin might break $0.00015 to reach the $0.00020 mark.
Conversely, a reversal from the $0.00015 mark can result in a price drop to $0.0001163.
