LUNC Struggles to Sustain Gains, Decreases by 2.57% in the Last 24-hours Amid Bearish Indicators and Key Support Levels

Terra Classic (LUNC) has faced significant selling pressure in the last 24 hours, as the price remains below critical resistance zones. With EMAs shaping the narrative and a negative RSI divergence reflecting weakening momentum, LUNC appears to be navigating a challenging phase.

Price Snapshot: A Fight for Stability

LUNC’s price has oscillated between $0.00010747 and $0.00011027 over the past day, indicating tight consolidation. The current price of $0.00010989 reflects its struggle to break above the 50 EMA, a crucial resistance level. For the bulls to regain control, a decisive move above $0.00011000 is necessary.

The RSI Divergence (5, 14) stands at -3.03, underscoring the growing bearish sentiment. This negative divergence hints that the current rally lacks the strength to sustain upward momentum. Should the RSI trend downward, LUNC may revisit lower support zones.

EMA Levels: Key Zones to Watch

LUNC’s price is between the 50 EMA ($0.00010974) and 100 EMA ($0.00010747). While the 50 EMA has capped upward movement, the 100 EMA offers immediate support. A breakdown below the 100 EMA could push the price toward the 200 EMA at $0.00010385, signalling a bearish continuation.

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Terra Classic remains in a consolidation phase, with bearish RSI divergence dampening hopes for an immediate breakout. The EMAs are pivotal in determining the token’s next move, as the 50 EMA acts as resistance, and the 100 EMA serves as support.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.