While the positive trend is still soaring, the price of Luna Classic is still flat.
This event indicates that LUNC may shortly start a 20% ascent. The positive view for the Terra supporters will be invalidated by a daily candlestick closing below $0.000161. The Luna Classic price (1) is attempting to surge upward in an explosive move as it struggles to escape its current consolidation. This forecast is supported by a momentum indicator, which shows that the issue is one of "when," not "if."
The price creeps ever closer to a breakout.
A series of lower highs in the price of Luna Classic indicates a resistance level and may be connected using trend lines. On November 8 and November 13, however, newly created candlestick bodies show lower lows, indicating that sellers are in control. On the other hand, greater lows for these periods have been recorded by the Relative Strength Index (RSI), suggesting that momentum is increasing. This deviation from the norm is known as a bullish divergence and frequently increases the underlying asset, which is the price of Luna Classic.
What would the breakout indicate?
Consequently, a breakout above the trend line might trigger a push-up to the current barrier at $0.000220. The price of Luna Classic would increase by 22% due to this change. While the local top for LUNC may develop at this point, a flip of the mentioned barrier might show that the bulls still have room to grow.
A similar scenario can cause the price of Luna Classic to rise, reaching $0.000277 (2) and increasing the gain by 50%. While the price of Luna Classic is trending upward, the bullish thesis will be refuted if the $0.000161 support level is breached, resulting in a lower bottom. This action may also cause a 12% drop, allowing LUNC holders to reorganize at the three-day demand zone, which ranges from $0.000115 to $0.000140.
