Terra Classic (LUNC ($0.00)) saw an attempt to rally in the last 24 hours, but resistance at key levels held the price back. The hourly chart below illustrates the price movement and reveals critical insights from both moving averages and the RSI indicator.

EMA Levels Indicate Mixed Sentiment

The chart showcases the Exponential Moving Averages (EMAs) for 20, 50, 100, and 200 periods, which are crucial indicators for understanding the market sentiment. LUNC’s price appears to have tested the 100-EMA (blue line), hovering around $0.00008249. The 200-EMA (deep blue line), located at $0.00008099, acts as a strong support zone.

^{Source: TradingView}

LUNC’s current price is slightly above the 100-EMA, trading at approximately $0.00008333 at the time of writing. This suggests mixed market sentiment, where short-term traders might be optimistic, but longer-term indicators like the 200-EMA suggest that there is still potential for downward pressure. Moreover, the 50-EMA (orange line) is near the current price at $0.00008353, acting as an additional resistance point for any bullish push.

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RSI Divergence Hints at Bearish Momentum

The RSI Divergence indicator, which typically highlights overbought or oversold conditions, currently signals a negative divergence. With a value of -1.96, the indicator reveals that bearish momentum might be gaining strength. Traders should be cautious as this divergence could foreshadow a potential price retracement, especially if LUNC fails to maintain its position above the 50-EMA.

Price Outlook: Short-Term Consolidation or Breakdown?

In the near term, the price may continue to consolidate between the 50-EMA and 200-EMA if buying pressure doesn’t increase significantly. If LUNC breaks below the 200-EMA, this could signal a deeper correction, with the next support level around $0.0000800. Conversely, a break above the 50-EMA might encourage a bullish trend, pushing the price towards $0.0000840.

With the RSI divergence indicating bearish strength, traders should remain cautious in the next 24 hours, waiting for clear confirmation before committing to positions.

The post 24-Hours Price Analysis: Terra Classic (LUNC) Fights to Keep Momentum, Showing 2.08% Increase After Recent Rally: Will This Last? appeared first on FXcrypto News.