Terra Luna Classic Price Drop to $0.000255? October LUNC Price Prediction

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Terra Luna Classic Price Dropped over the last few days. Now trading at $0.000278 per share, investors are bracing for another drop as the bulls lose steam.

Will Terra Luna Classic be able to recover? LUNC can be found on.

Cryptoassets are unregulated and highly volatile. There is no consumer protection. Profit taxation may be applicable.

2022 Terra Luna Classic Price Prediction

Terra Luna Classic (LUNC) recently lost a key support level of $0.000283 due to a chart pattern known as a bear pennant.

A bear pennant is a bearish pattern that usually results in further downward movement. The trend preceding the pennant formation is usually downward, which is why it is a continuation pattern.

We are currently in the first phase of the bear pennant, which is an aggressive downtrend. The current pennant, which resembles a symmetrical triangle, represents the second phase, known as consolidation.

Traders are looking for Terra Luna Classic to break out and are now targeting the key support levels of $0.000264 and $0.000255.

LUNC/BUSD - Daily Time Frame | Terra Luna Classic Price Drop
LUNC/BUSD – Daily Time Frame | Terra Luna Classic Price Drop

If the above support levels are not maintained, the bear pennant’s technical target would bring the price of Terra Luna Classic (LUNC) down by 33.25%.

Bearish chart patterns do not always have to follow the rules. In the crypto market, we occasionally see fake-outs. Traders with a contrarian mindset may be tempted to go long at these specific support levels as the likelihood of a bullish reversal increases.

Many long-term Terra Luna Classic (LUNC) investors will also use a dollar-cost averaging strategy at key support levels, buying red candles rather than green.

If Terra Luna Classic (LUNC) falls below a key support level of $0.000255, there is a chance that the price will fall to $0.000165.

I believe LUNC will touch down at $0.000255, which will be an appealing level for buyers to rush in and push the price back up to around $0.00033, where the bulls will have another opportunity to strike back and test for resistance.

Analysis Of The Terra Luna Classic Video

Traders who have been in the crypto markets for a while will be aware that September is notoriously volatile for the blockchain markets.

It is extremely unusual for September to be a profitable month for Bitcoin and other crypto assets.

While this is merely speculative, there is a good chance that the markets will turn bullish, as over 75% of October produce positive returns for Bitcoin.

Terra Luna Classic (LUNC) is available for purchase. You can join my official Discord channel to keep up with my latest LUNC trading calls and a thriving crypto community.

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Cryptoassets are unregulated and highly volatile. There is no consumer protection. Profit taxation may be applicable.

Disclaimer:- Investing in bitcoin and different preliminary coin choices is extremely dangerous and speculative. Because every particular person’s scenario is exclusive, a certified skilled ought to at all times be consulted earlier than making any monetary choices. The Crypto Kingdom makes no representations or warranties as to the accuracy or timeliness of the knowledge contained herein.

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