Terra Luna Classic Crypto Price Analysis - LUNC Down 21.3%

cryptonews.com:

Terra Luna Classic (LUNC) has aggressively retraced today after reaching a euphoric top of $0.0004506 on the Binance crypto exchange. 

Recently Terra Luna Classic (LUNC) formed a bearish reversal pattern known as a broadening ascending channel and lost price structure. LUNC now resides within a bullish falling wedge pattern which could break out to the upside.

September is a notorious month for cryptocurrency as we usually see a downtrend for major altcoins and Bitcoin.

Will Terra Luna Classic continue to pump in September? 

Despite the current retracement in the crypto markets Terra Luna Classic (LUNC) is still looking fantastic when zooming out on the price charts. 

In fact, LUNC is still up a tremendous 761% from the bottom on the 9th June 2022. Terra Luna Classic is now trading in a bullish reversal pattern known as a falling wedge.

Upon breaking out of the falling wedge pattern traders might speculate that we would see positive price momentum back towards the critical resistance level of $0.0004506.

From a technical analysis perspective the technical target could create an impulse wave or pump as high as, if not higher than 25.5%. 

At the time of writing this article Terra Luna Classic (LUNC) is trading at $0.000363 and according to Coinmarketcap has a market capital of $2.2 billion. 

This particular corrective phase reminds me of the correction we had for LUNC on the 2nd of September within the symmetrical triangle pattern. 

We can clearly see Terra Luna Classic (LUNC) corrected 28.97% before making a parabolic move to the upside. 

The current correction within the falling wedge pattern has been 26.08% down to $0.0003364 where we saw a bounce from the support trend line of the falling wedge. Are 25-30% corrections perhaps