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LUNC's Bullish Momentum Gains Strength Amid Increasing Volatility

Explore LUNC's recent price surge, market trends, and potential growth as it nears a psychological barrier.
Published on 2023-05-10

LUNC Price Surge and Market Trends

Terra Classic (LUNC) has experienced a notable price increase, rising over 7% amid the current bull run. The price surged from an intra-day low of $0.00008374 to a high of $0.00009713, eventually stabilizing at $0.00009007. If bullish momentum continues, breaking the 24-hour high of $0.00009713 could lead LUNC to challenge the psychological barrier of $0.0001, potentially attracting more buyers and driving the price to new heights.

Market Volatility and Indicators

Market volatility for LUNC is on the rise, as indicated by the expanding Keltner Channel bands on the LUNC/USD price chart. This increased volatility suggests more trading opportunities, with prices fluctuating between $0.00009756, $0.00009012, and $0.00008271. The MACD line crossing its signal line from below, along with the appearance of green bars in the histogram's positive zone, highlights a shift in favor of buyers and suggests potential for further upside.

Moving Averages and RSI Analysis

The strengthening bullish trend is further supported by the 100-day moving average rising above the 20-day moving average, currently at $0.00008919. This trend signifies a positive shift in market sentiment. However, the Relative Strength Index (RSI) at 46.33 indicates ongoing selling pressure. A rise above 50 could enhance bullish momentum and attract more investors.

Conclusion

LUNC's bullish momentum appears robust, with potential to break the $0.0001 barrier if the current trend persists. This could lead to increased buyer interest and further price ascension. However, traders should remain vigilant, considering the inherent volatility and market dynamics.

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