Terra Classic (LUNC) Battles to Stay Above $0.00005560: Is a Deeper Pullback Coming?

Terra Classic (LUNC) continues to grapple with crucial resistance levels as it attempts to build a sustainable recovery. The latest 4-hour chart shows LUNC trading around $0.00005560, posting a slight intraday gain of 0.63%. However, multiple moving averages remain stacked above the current price, signalling persistent overhead pressure.

Key Moving Averages Keep Bulls in Check

A glance at the chart reveals that LUNC’s price action remains constrained beneath the 20, 50, 100, and 200 Exponential Moving Averages (EMAs). Specifically, the 20 EMA at $0.00005541 and the 50 EMA at $0.00005563 are acting as immediate resistance levels. Notably, the 100 EMA at $0.00005564 and the 200 EMA at $0.00005773 further reinforce this cluster of resistance.

This tight grouping of EMAs above the current price typically indicates that bears are defending these levels, and bulls will need to generate significant buying momentum to trigger a meaningful breakout.

Support Levels Remain Firm, But Momentum Is Weak

While LUNC is showing resilience at the current zone, its support levels tell a deeper story. The chart highlights horizontal support around $0.00005092, which acted as a critical safety net during last week’s flash dip. If bears push the price lower and buyers fail to hold this zone, LUNC could revisit this level in the coming sessions.

Additionally, the lower blue trendline at $0.00005092 and the slightly higher line near $0.00005200 further strengthen the support area. For now, these levels offer traders clear zones to watch for potential reversals or breakdowns.

Short-Term Price Action: Signs of Consolidation

Despite brief spikes, the chart reveals that LUNC’s overall structure has leaned sideways, forming a consolidating pattern over the past few weeks. Each attempt to push higher has faced resistance at the stacked EMAs. This persistent rejection suggests that market participants remain cautious, waiting for a decisive move above or below these key levels.

Until LUNC breaks and closes above the 200 EMA at $0.00005773 with strong volume, bulls may struggle to flip the current sentiment. A breakout above this level could pave the way for a move toward the next psychological barrier, located near $0.00006000.

What to Expect Next

Looking ahead, traders should closely monitor the 20- and 50-day EMAs. A clean break and sustained hold above these lines would indicate renewed bullish confidence, possibly driving LUNC toward the 200 EMA. Conversely, failure to maintain current support levels could cause the price to revert toward the $0.00005092 mark.

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.