10 June 2023 : 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.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,042,883,059,497. The total trading volume stands at $48,558,360,455. Bitcoin shares 47.71 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $25,644.89 level after a decline of -3.47%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -5.57 percent reaching to $1,741.70 during the previous 24 hours.
While publishing this blog, BNB traded at $235.55, following a price change of -10.12%within the same time frame. XRP the native coin of XRP is down by -7.61 and currently trading at $0.49. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% 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.
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||$0.00029805||Support Level 1||$0.00024805|
|Resistance Level 2||$0.00032552||Support Level 2||$0.00022552|
|Resistance Level 3||$0.00034805||Support Level 3||$0.00019805|
The current Terra Classic price is $0.00013253, with a trading volume of $148,603,736.00 in the past 24-hours. Currently, LUNA is down by -16.8% since yesterday with a market capitalization of $866,260,826.00 USD.
LUNA price analysis for 10 June 2023 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.
|Simple Moving Average (10)||0.00027700||Sell|
|Exponential Moving Average (10)||0.00027482||Sell|
|Simple Moving Average (20)||0.00029090||Sell|
|Exponential Moving Average (20)||0.00028843||Sell|
|Simple Moving Average (50)||0.00030176||Sell|
|Exponential Moving Average (50)||0.00030032||Sell|
The LUNA/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market. While LUNA’s Williams %R indicator is at -81.25 for the 14-day time period indicating a oversold condition and short term trend reversal is possible. Bulls can move the market in upward direction. The relative Strength Index (RSI) indicates that the LUNA coin is in oversold phase, as RSI is at 29. The Terra Classic has break all its supports levels and things are not looking good for the crypto market. Currently, bears are in control of the market and successfully take LUNA price below the crucial support level of $0.00024805.
The Terra Classic market is shown signs of being bearish, and sellers have the potential to drive prices of the cryptocurrency lower in the next few days. Alternatively, The price of LUNA might try to break above its resistance level of $0.00029805. For now the coin is showing negative trend.