Terra Classic (LUNC) 24-hour Price Analysis: Bullish Momentum With Key Resistances at $0.00008546 in Play – Levels to Monitor

Over the past 24 hours, Terra Classic (LUNC) has shown a resurgence of bullish activity, making a noticeable push towards the upper resistances on the charts. As seen from the latest 15-minute timeframe, LUNC experienced a breakout above the $0.00008422 level, a key resistance based on the 200 EMA, before briefly retracing after touching highs near $0.00008800.

EMA Insights Point to Continued Upside

Analyzing the exponential moving averages (EMA), LUNC is currently trading above the 20, 50, and 100 EMAs, signifying a clear bullish sentiment. The 20 EMA, which stands at $0.00008575, has been providing short-term support, while the 50 and 100 EMAs at $0.00008446 and $0.00008422, respectively, indicate stronger bases for further price increases. The 200 EMA at $0.00008546 serves as the most significant support level.

The price action suggests a growing buying interest, with each bounce off the shorter-term EMAs being met with higher highs. If LUNC maintains its current trajectory, the next major resistance could be the psychological level of $0.00009000, which will test the strength of the bulls.

RSI Divergence Indicates Caution Ahead

However, the relative strength index (RSI) divergence, currently registering a value of -4.77, raises some caution. RSI divergence typically signals a possible trend reversal, especially after a significant upward movement. The mixed green and red divergence pattern suggests that the bullish run may face some challenges as selling pressure increases.

This divergence should not be ignored, as it could result in a short-term pullback towards the $0.00008500-$0.00008450 zone, where the EMAs will once again be tested as strong support. Traders should monitor the RSI closely for any further weakening signals that could shift momentum back to the bears.

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Conclusion

Terra Classic (LUNC) is currently riding a bullish wave but faces immediate resistance at $0.00008800. The next 24 hours will determine whether the bulls have enough momentum to push the price higher or if a pullback is imminent due to RSI divergence. For now, the trend remains cautiously optimistic, with support levels near the $0.00008400 range acting as a safety net for traders.

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.