Terra Classic (LUNC) Battles Multiple EMAs in 24-Hour Slump: Is a Breakdown Imminent?

Over the past 24 hours, LUNC has been locked in a narrow range, fluctuating between intraday highs of $0.00005864 and lows of $0.00005843, ultimately closing around $0.00005855—a marginal 0.28% increase.

While the range appears tight, a closer look at the technical indicators tells a deeper story. The price repeatedly attempted to break above the 20 EMA (red) at $0.00005872 and the 50 EMA (orange) at $0.00005893, but each rally met strong rejection, confirming both lines as immediate resistance zones.

LUNC’s position below the 100 EMA (light blue) at $0.00005936 and the 200 EMA (blue) at $0.00006022 further reinforces the bearish structure. The spread between these moving averages continues to widen, suggesting sustained downside momentum.

Until LUNC can establish a firm close above at least the 50 EMA, the path of least resistance remains to the downside.

Long-Term Trendline Acting as Final Support

What’s particularly concerning is LUNC’s proximity to the yellow descending trendline support, which has held steady since April. The chart shows the price gravitating closer to this support level, now positioned near $0.00005743.

A breakdown below this trendline could trigger a larger move toward $0.00005600 or even lower, signalling a breach of the market structure that has supported LUNC through multiple testing phases.

Volume remains muted, offering little support for bullish attempts. Meanwhile, the price continues to form lower highs and lower lows, a textbook indicator of a downtrend. The failed attempts to break above short-term EMAs reinforce the lack of conviction from buyers.

The Relative Strength Index (RSI) isn’t shown here, but judging by price behaviour and EMA alignment, momentum remains weak and tilted toward the bears.

Final Outlook: LUNC at a Make-or-Break Level

As Terra Classic approaches the critical descending trendline, traders should watch closely for a decisive move. A bounce off support with strong volume could offer a short-term rally toward $0.00005936, but failure to hold above $0.00005743 might lead to further downside.

Unless bulls reclaim the 100 and 200 EMAs, LUNC’s outlook remains bearish in the short term. Traders should proceed with caution and look for confirmation before entering new positions.

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.