The price of LUNC, the cryptocurrency of Terra Classic, has shown a fluctuating movement over the past week, with alternating green and red candles. This suggests a lack of dominance from either buyers or sellers, indicating uncertainty in the market regarding the trend's direction. The recent legal actions taken by the US Securities and Exchange Commission (SEC) against prominent crypto exchanges like Binance and Coinbase could contribute to this hesitation among market participants. As a result, Terra Classic's coin is expected to experience a prolonged period of consolidation in the coming days, as the overall trend remains bearish due to the influence of a wedge pattern.
Terra Classic (LUNC) analysis: Target of $0.00012 achievable? LUNC Price Analysis, Impact Of Regulatory Actions On Crypto Market
Regulatory actions against major crypto exchanges have caused caution and uncertainty in the cryptocurrency market, reflected in the LUNC price chart. Terra classic coin is expected to undergo a period of consolidation as market participants reassess the situation. If LUNC price continues to rise, a successful break above the overhead trendline could lead to a new recovery rally. Traders and investors will monitor the price action of LUNC and the resolution of regulatory actions to shape the future direction of LUNC and the broader cryptocurrency market. Terra Classic (LUNC) analysis: Target of $0.00012 achievable?
Will LUNC Price Rise To $0.00012?
Based on the descending wedge pattern, the LUNC price is currently bearish and the recent reversal suggests a possible decline. This downward trend may lead the price towards important support levels at $0.000082 and $0.00007, followed by a lower trendline. Conversely, to recover above $0.00012, buyers must successfully break above the aforementioned trendline. Currently, the coin is trading at $0.00008718 and appears to be moving sideways, indicating a lack of clear direction from market participants. Terra Classic (LUNC) analysis: Target of $0.00012 achievable?
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