- LUNC is trading at $0.00012 after a significant recovery from its recent dump.
- The positive divergence might help the LUNC price climb to $0.00014.
- If buyers are absent, LUNC might not dump back to the support at $0.00011.
After tapping a low of $0.00011 on January 3, the price of Terra Luna Classic (LUNC) jumped and hit $0.00013 recently. The increase represents an approximately 30% price rise. Despite the run, LUNC was unable to hold the region.
At press time, LUNC was trading at $0.00012, based on CoinMarketCap data. Ten days ago, Coin Edition reported how LUNC had the attention of the market. During that time, the cryptocurrency showed indications that it could break into the top 50.
However, press time data showed that LUNC’s market cap position was at number 89. In terms of the price action, the 4-hour chart showed that a descending channel pattern had been formed.
LUNC Attempts to Breakout
From the chart below, the trendline had broken below different support levels. On December 26, bulls could not defend the $0.00014 support. So, the price declined. The support subsequently fell to $0.00012 on January 4. Again, the price fell.
However, t…
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