Terra Classic (LUNC) continues to trade in a narrow range, with price action in the past 24 hours showing strong consolidation. As of now, LUNC is holding around $0.00005936, posting only minor fluctuations as traders weigh short-term market direction. The token has struggled to break higher due to persistent resistance just below the $0.00006000 mark, while strong demand near $0.00005800 has limited downside moves.

Support Levels Remain Crucial

The chart highlights a key support zone around $0.00005800, which has acted as a safety net for LUNC in recent sessions. Buyers have stepped in at this level multiple times, preventing deeper losses. If this support holds firm, it could fuel a rebound attempt toward higher resistance levels. On the other hand, a breakdown below $0.00005800 could open the way for a retest of $0.00005600, where stronger bearish momentum may emerge. However, LUNC has struggled to maintain a positive uptrend with a 2.98% decline over the past 7 days.

Source: LUNC TradingView Chart

Sellers remain active near $0.00005977 to $0.00005996, making it difficult for LUNC to stage a breakout. This resistance zone aligns with the descending trendline seen on the chart, effectively capping bullish momentum. A confirmed close above this barrier would provide buyers with the confidence needed to push prices toward $0.00006200 and possibly $0.00006400 in the short term.

Related article: Terra Classic Slides 3.8% – Is a Rebound Coming for LUNC?

Indicators Reflect Market Caution

The exponential moving averages (20, 50, 100, and 200) are tightly clustered between $0.00005977 and $0.00005996, reflecting ongoing price compression. This convergence often precedes a decisive breakout, suggesting that volatility could soon increase. The RSI divergence indicator, currently at -6.05, indicates bearish bias but also hints at possible oversold conditions, meaning buyers could soon regain some strength if selling pressure fades.

For the next 24 hours, traders should closely monitor the $0.00005800 support level and the $0.00006000 resistance zone. A bounce from support would favour a bullish recovery attempt, while a failure could trigger additional declines. With both sides locked in, LUNC remains in a make-or-break situation that could shape the near-term market structure.

Conclusion

Terra Classic is holding steady within a tight trading range, but the convergence of support and resistance suggests that a strong move is on the horizon. Whether buyers can overcome the $0.00006000 ceiling or sellers drag the price below $0.00005800 will determine the next leg of LUNC’s price action.

The post Terra Classic (LUNC) Price Analysis: Bulls Defend $0.000058 as Resistance Near $0.000060 Caps Upside Despite a 2.98% Decline appeared first on FXcrypto News.