TerraCoin price prediction shows bearishness over the short term and long term. LUNC needs to cross multiple obstacles to attract buyers. As per Coinglass, TerraCoin has $5.72 Million Open Interest and recently showed an incline of +11.03% in the last 24 hours.
The 24-hour long versus short ratio is 1.0674. The total number of short positions added in the last 24 hours is $1.98K against longs of $7.25K longs. Moreover, the average volume of the TerraCoin coin declined by 15.54%, and the volume stands at $12.74 Million.
Terra Classic (LUNC) is a blockchain network that emerged in 2019 as a split of Terra (LUNA). It enables the creation of algorithmic stablecoins. LUNC has not recovered since the crash in 2022. While there were several scandals in the crypto industry, the Terra Luna crash and the FTX collapse caused the most damage to the markets.
Source: www.coinglass.com
LUNC performed poorly over the past six months. The coin price dropped by 10.23% over the past thirty days. TerraCoin price fell by 46.99% over the past six months while the return since the start of the year is -42.04%
As per the price action over the daily time frame, the price is unable to surpass the previous swing high of $0.00011431 or drop below the previous swing low of $0.00007615.
However, the price is currently moving within the range of the previous swing high and low and it is declining by forming lower lows and lower highs.
Moreover, Buyers seem to be losing strength in the daily time frame. It is likely to fall below this current support level which is at $0.00007772. More downward movement can be anticipated in the coming weeks.
Source: LUNC/BUSD.1D.BINANCE by TradingView
At the time of publishing, the LUNC coin price (BINANCE: LUNC) is trading above the 20, 50, 100, and 200-day exponential moving averages (EMAs), which are rejecting the price trend. Hence, the coin is expected to move downwards, giving bearish cues over the daily time frame chart.
Source: LUNC/BUSD.1D.BINANCE by TradingView
The moving average convergence divergence (MACD) line and the signal line are below the zero line and gave a bearish crossover suggesting bearishness .
The TerraCoin price prediction suggests that investors are bearish on the 1-day time frame. The view at the time of publishing was also bearish. Moreover, the technical parameters of TerraCoin price suggest the downtrend will continue over the daily time frame. The MACD and EMAsare giving negative signals about LUNCprice.
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
With the growing popularity of cryptocurrencies, even gamers need to do it. This platform follows…
We are excited to announce that Rexas Finance successfully joined WOW Summit 2024 as a Gold Partner,…
As digitization continues infiltrating our lives inexorably, personal privacy and security online face escalating threats…
Of late, staking has emerged as one of the major weapons for crypto investors who…
In the world of cryptocurrency and digital assets, volatility is a constant companion. Markets can…
As cryptocurrencies gain mainstream acceptance, staking has become an increasingly popular way to earn passive…
This website uses cookies.