As the week draws to a close, Terra Classic (LUNC) is feeling the weight of selling pressure. The asset is now trading at $0.00005915, down by 4.99% in the past 24 hours, but more importantly, signalling a broader trend of weakening momentum. Despite several attempts to reclaim bullish footing earlier in May, LUNC continues to slide below key technical levels.

The 4-hour chart reveals that LUNC has now dropped beneath all major Exponential Moving Averages (EMAs), a red flag for bullish traders and a possible green light for bears anticipating lower levels.

All Major EMAs Breached

Throughout the week, LUNC battled resistance across the EMA 20 ($0.00006128), EMA 50 ($0.00006216), EMA 100 ($0.00006277), and EMA 200 ($0.00006289). As of today, it has fallen below every single one of these benchmarks, reflecting a clear rejection of short- and mid-term bullish attempts.

The EMAs have now converged tightly just above the current price, forming a ceiling rather than support. This pattern suggests strong selling activity at those levels and a potential barrier to any upward move. It’s a stark contrast to the bullish sentiment witnessed earlier this month when LUNC briefly spiked near $0.00007.

Weak Bounce and Low Momentum

Examining the structure of the current price action, it is evident that LUNC experienced a failed recovery attempt mid-week, with lower highs forming along the way. The bounce lacked volume and momentum, indicating that buyers were either unwilling or unable to regain control.

Moreover, the price appears to have stalled after a sharp wick down to around $0.00005838, barely recovering back above $0.000059. This behavior reinforces the bearish narrative and sets the stage for a possible retest of lower support zones near $0.000056 or even $0.000054, levels last seen in early April.

Macro Picture: Consolidation or Breakdown?

While the asset has not yet entered a full-blown capitulation phase, the current structure shows a shift from sideways consolidation to potential downward breakdown. LUNC has spent most of the last month oscillating between $0.000063 and $0.000059, but this latest dip below range support may tip the balance toward sellers in the days ahead.

The tightening of EMAs and the lack of bullish divergence add to the downside risk. Unless a strong catalyst or whale inflow interrupts the current trend, continued bearish drift is likely.

What Traders Should Watch

Moving forward, all eyes should be on whether LUNC can reclaim at least the EMA 20 around $0.00006128. Doing so would signal a temporary recovery and could reignite bullish interest. However, failure to rise above this cluster of moving averages will likely embolden short-sellers and discourage retail accumulation.

It’s also important to keep an eye on trading volume over the weekend. A spike in bearish volume alongside declining price action may confirm a more significant correction ahead.

Related article: Terra Classic (LUNC) Price Analysis: 24-Hour Squeeze Near Breakout as EMA Cluster Builds Pressure

Final Thoughts

Terra Classic is wrapping up the week on uncertain footing. Trading below every critical EMA and unable to sustain recovery rallies, LUNC is entering a fragile phase. The market structure leans bearish, and without a swift reversal, we could see deeper dips in early June.

The post Terra Classic (LUNC) Ends the Week Under Pressure as Bears Take Control: What to Expect Next Week appeared first on FXcrypto News.