Terra Classic Price Analysis: LUNA Plunge -16.8%, How Low Will It Drop?


  • Terra Classic shows bearish momentum over the weekend.
  • LUNA faces medium-term resistance at $0.00044681.
  • LUNA/USD trades near $0.00013253.
  • In terms of LUNA support floor, it is now $0.00020562.

03 October 2022 : In this article we will walk you through Terra Classic price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Terra Classic, Is LUNA a good investment? Terra Classic support & resistance levels etc. But before diving deep into the LUNA technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $942,458,512,284. The total trading volume stands at $55,235,219,316. Bitcoin shares 39.8 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,557.65 level after an upward movement of 1.84%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.18 percent reaching to $1,325.92 during the previous 24 hours.
While publishing this blog, BNB traded at $288.29, following a price change of 1.74% within the same time frame. XRP the native coin of XRP is down by -0.44 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.54% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Terra Classic Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Terra Classic (LUNA)

LUNA Resistance Levels LUNA Support Levels
Resistance Level 1 $0.00037462 Support Level 1 $0.00020562
Resistance Level 2 $0.00044681 Support Level 2 $0.00010881
Resistance Level 3 $0.00054362 Support Level 3 $0.00003662

Terra Classic Performance

LUNA has recorded a downtrend, losing -16.8% in last 24 hours. The current value of Terra Classic is hovering at $0.00013253 with the trading volume of $148,603,736.00 USD in the same timeframe. The overall marketcap for LUNA is $866,260,826.00 USD while the coin price changes -5.34% over the week.

Terra Classic Price Analysis

LUNA price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Terra Classic.

Moving Averages Price Indicator
Simple Moving Average (10) 0.00027960 Sell
Exponential Moving Average (10) 0.00028913 Sell
Simple Moving Average (20) 0.00028880 Sell
Exponential Moving Average (20) 0.00029291 Sell
Simple Moving Average (50) 0.00024456 Sell
Exponential Moving Average (50) 0.00024799 Sell

The MACD line is standing below of the signal line after a crossover. Terra Classic investors need to wait for any directional change over the daily chart. Terra Classic is moving in downward direction as bears successfully take the coin below immediate support level of $0.00020562. Now LUNA should find a support at $0.00010881 or else the sellers could then target the crucial support level placed at $0.00054362. RSI implying near overbought phase while trading at 58 and is trying to break out of the neutrality zone. While LUNA’s Williams %R indicator is at -10.465 for the 14-day time period indicating a overbought condition and short term trend price correction is possible.

Conclusions

There had been a negative trend for some time and it seems that the coin's recuperation will continue as long as it remains in the reddish area. You should only acquire crypto right now if you're prepared to hold it through the ups and downs of the crypto market.