LUNC/USDT in deep trouble! Will Bulls Jump-in?
The crypto markets have yet again fallen under the bearish influence as the larger tokens have squeezing out their profits after remaining inflated for the past few days. Meanwhile, the TerraClassic (LUNC) price is no exception as the current trade set up indicates either the token is extending its consolidation or ready to dive deep soon.
LUNC price has been trading within a bearish triangle from quiet a long time but after the price rebounded from the support, a ray of hope of a bullish breakout flashed. However, the fresh sell-off challenged the bulls, compelling the price to plunge and head towards the lower support zone.
The token now may either drop down to trade within the support zone, hit the last point of defence at $0.0000868 and reclaim the levels beyond $0.0001 again. Else the more likely outcome could be an extended consolidation just below the pivotal resistance at $0.000155 for a while, until the bulls strengthen their grip and rise beyond the resistance.
LUNC price has been trading within a bearish triangle from quiet a long time but after the price rebounded from the support, a ray of hope of a bullish breakout flashed. However, the fresh sell-off challenged the bulls, compelling the price to plunge and head towards the lower support zone.
The token now may either drop down to trade within the support zone, hit the last point of defence at $0.0000868 and reclaim the levels beyond $0.0001 again. Else the more likely outcome could be an extended consolidation just below the pivotal resistance at $0.000155 for a while, until the bulls strengthen their grip and rise beyond the resistance.