LUNC/USD Buyers Get Even With Sellers

Recently, Terra Classic had strong bullish moves. This has sent the price soaring high that it breaks the $0.00025105 resistance level. Buyers were so ambitious. They were targeting $0.00030000. A very strong bullish momentum was seen on the first of September. The market was also very bullish on the 2nd of September price reached above $0.0004000, but, then sellers resisted buyers’ advancement. From here they became evenly matched in strength, which made the price balance at around the resistance level of $0.00025000.

Before the strong this recent bullish market behaviour, the market has been flat with not much price pull from the market players. This period of consolidation followed the crash of Terra Classic in May and June. Since then the altcoin had made impressive efforts to recover. Since the crash of the altcoin in May, the price of Terra Classic Just enters the overbought between late August and early September. And it continued to the overbought for a while due to strong demand. As expected the momentum may be reducing. The bulls may be retreating for a while.

 Terra Classic Market Price Statistic:

• LUNC /USD price now: $0.00026227
• LUNC /USD market cap: $ 1,720,327,770
• LUNC /USD circulating supply: 6,586,000,000
• LUNC /USD total supply: 6,906,229,037,364
•  LUNC /USD coin market ranking: #207

Key Levels

• Resistance: $0.0003000, $0.0003500, $0.0004000
• Support: $0.0002000,0.000150000, 0.0001000

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 Terra Classic Market Price Analysis: The Indicators’ Point of View

Strong buying pressure has kept the price of the market in the overbought zone for a while. The histogram of the MACD measures the strength of the buyers in the market. And the deep greenish histogram signifies bullish strength. However, between today and yesterday, we see that the histograms’ colour is faded green. This is signifying a reduction in the bullish strength. 

Terra Classic: LUNC/USD 4-Hour Chart Outlook

In this timeframe, the chart shows a recovering market from the downside. The selling pressure is reducing and the buyers are picking up. So far in the day’s trading session, buyers have been active in pulling the market. We are yet to see the sellers affecting the market. After recovery from the overbought region, the fast and slow lines in the RSI are pointing to 60%. That is still a strong market. There is a high probability that the bullish market momentum may continue.

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