Terra Luna Classic Price Prediction as LUNC Bounces From Support – Can LUNC Keep Going Higher?
Last Friday’s crypto market dip on Silvergate Bank concerns weighed heavily on Luna Classic (LUNC), the cryptocurrency that powers the original but not largely defunct Terra blockchain ecosystem.
After dipping more than 10% on Friday from near $0.00017 to around $0.00015, the cryptocurrency has since eased a little lower to stabilize in the mid-$0.00014s.
Price predictions thus remains somewhat downbeat.What had been a key support area around $0.0001550 should now be viewed as an area of near-term resistance.
Meanwhile, traders are also monitoring support just under $0.00014 in the form of a late 2022 low. As the broader cryptocurrency market stabilizes ahead of a busy week of macro events, including a barrage of key US jobs data and a testimony from Fed Chair Jerome Powell before the US Congress, LUNC bulls will be hoping the cryptocurrency can continue to find support above this level, as was the case last Friday.If this support area was to fail, a retest of the late 2022 lows in the $0.000127 area would become a distinct possibility.
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