Terra Luna Classic Price Prediction as LUNC Spikes Up – Is a New Rally Starting?

cryptonews.com:

Terra Luna Classic price seems poised to print a series of green candles after bouncing off support at $0.0001584. LUNC trades at $0.0001666 after accruing almost 5% in gains on the day. If the technical picture stays bullish, Terra Luna Classic price may close the gap to $0.0002, where bulls are expected to push for an aggressive breakout from an ascending triangle pattern.

The daily time frame chart shows the formation of an ascending triangle pattern, with the potential to break out to $0.0002764. Ascending triangles come into the picture when the asset faces a horizontal resistance level and a slope of higher lows.

Attempts to push above the resistance level tend to fail several times but bulls often do not give up. As they gain strength, bolstered by the slope of higher lows, a breakout materializes above the triangle. If the resistance is too strong, the breakout shelves altogether and the triangle’s effectiveness fades.

For that reason, traders should closely watch the price movements within the triangle. Initial buy orders could be placed above the slope of higher lows for a plausible profit booking at the horizontal resistance. The second batch of buy orders may be triggered above resistance, as highlighted by the triangle’s x-axis at $0.0002.

Terra Luna Classic price expects a 36.44% move above the x-axis resistance. This breakout target equals the distance between the widest points of the triangle extrapolated above the resistance, as highlighted at $0.0002.

As Terra Luna Classic price gains momentum, more investors are attracted to join the uptrend. The Stochastic oscillator reveals that buyers have the upper hand by lifting from the oversold region. Traders betting on long positions in LUNC should consider