As Terra Classic (LUNC ($0.00)) trades in a tightly defined range, the broader cryptocurrency market is abuzz with anticipation of Donald Trump’s inauguration. Known for his pro-crypto policies, Trump’s return to the political stage could influence market sentiment significantly. Over the past 24 hours, LUNC has shown consolidation patterns, suggesting the market is gearing up for a decisive move.

LUNC Consolidates Near Critical Levels 

LUNC’s price has maintained a range-bound movement between the 20-period EMA at $0.000103 and the 100-period EMA at $0.000111. This consolidation phase highlights indecision among traders, often a precursor to a significant breakout. The 50-period EMA, sitting at $0.000107, provides immediate support, while the 200 EMA at $0.000114 acts as a crucial resistance level.

^{Source: TradingView}

Should LUNC break above the 200 EMA, the next target could be the psychological level of $0.000120. However, a failure to maintain support at $0.000107 might lead to a drop toward $0.000100, a key psychological and technical support zone.

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RSI Divergence Adds Optimism 

The RSI divergence on the chart points to weakening bearish pressure and the potential for bullish momentum. Currently, the RSI is moving away from oversold levels, suggesting an accumulation phase. This aligns with the possibility of a breakout, especially with broader market optimism tied to the inauguration.

Broader Market Impact and Expectations 

Trump’s anticipated inauguration could act as a bullish catalyst for cryptocurrencies. Pro-crypto sentiments might drive capital inflows into altcoins like LUNC, potentially lifting its price beyond current resistance levels. However, traders should remain cautious, as the market’s reaction will depend on the specifics of Trump’s policies and any immediate regulatory changes.

The next 24 hours could be pivotal for LUNC as it consolidates near key levels. A breakout above the 200 EMA could signal renewed bullish momentum, while a dip below the 50 EMA might lead to further downside. With Trump’s pro-crypto inauguration expected to influence market sentiment, traders should prepare for heightened volatility. By the end of the week, LUNC’s price trajectory could reflect the broader market’s response to this significant political and economic event.

The post LUNC 24 Hours Price Analysis: Terra Classic Consolidates, Surges by 4.75% Ahead of Major Market Uncertainty appeared first on FXcrypto News.