Terra Classic (LUNC) is in a critical period as it hovers near crucial support levels. Market participants carefully analyze the next 24 hours, as the token could either break out toward resistance or dip into lower levels, testing investor confidence in this asset.

Price Consolidation and Key Resistance

Currently, Terra Classic (LUNC) is trading at 0.00008323, just below a recent high of 0.00008328. The price has seen multiple rejections near this level, with sellers defending the resistance at 0.00009457. This resistance has been tested numerous times, suggesting a breakout may happen soon if buyers gain control. However, failure to break this resistance could signal a downward move.

The chart shows LUNC resting just above the 20-period EMA, which is positioned at 0.00008281, providing immediate short-term support. Below this, the 100-period EMA sits at 0.00008146, which has acted as a significant line of defence. If the price breaks below this, it could trigger a bearish trend toward lower support levels, such as 0.00008008  or even 0.00007926. The 200-period EMA, farther below, strengthens the longer-term support at 0.00007926.

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ASO Oscillator and Market Sentiment

The ASO (Average Sentiment Oscillator) readings suggest mixed sentiment. The oscillator’s current values show the blue line holding at 52.90, indicating slight bullish pressure, while the red line stands at 47.09, implying that the bears are not entirely out of the picture. This tension between buyers and sellers suggests that price movement could be volatile over the next few hours.

Key Support Zones and Possible Scenarios

LUNC’s support levels at 0.00008146  and 0.00008008 have proven to be strong over the past week. These levels are crucial, as breaking below them could lead to a further drop toward the 0.00007208  region. Conversely, traders may look for buying opportunities if these levels hold, anticipating a rebound toward 0.00009457.

Conclusion: Which Direction Will LUNC Take?

The next 24 hours could be decisive for Terra Classic (LUNC). A break above the 0.00009457  resistance could propel the price further upward, especially if supported by bullish momentum. However, if sellers push the price below the 0.00008146  EMA, we could see LUNC retesting lower support zones, potentially extending the current bearish sentiment. Active traders should closely monitor price movements and adjust their strategies accordingly.