Low-cap altcoin like Luna Classic has had its fair share in the latest market surge as it exploded by a staggering 100% in a week. This led the asset to its highest price level in ten months with a slight rejection.
After tapping the $0.000097 level in November, Lunc encountered resistance and pulled back to the $0.000068 level to confirm a break and retest pattern.
It bounced back strong and closed that month well above the $0.0001 level. It entered this month bullish and reached a new milestone today, tapping the $0.00020 range with a staggering 35% gain in the past 24 hours.
That price range was rejected sharply with a slight retracement on the hourly chart, but the price is still looking strong on the daily chart.
While taking a short break, more positive actions might surface in the coming hours if the crypto continues to show strength. This could lead to a break above February’s $0.000211 resistance that held as the current yearly high.
Aside from that, it may shift the trend from short to mid-term on the macro level. That will validate more uptrend for a long-term rally.
So far, this week has been the most volatile period for Lunc since the price started to increase in the past months. A broader pull from the current trading level could trigger a 50% correction to the $0.0001 level.
Lunc’s Key Levels to Watch
A continuous surge could allow the asset to retake the yearly high before flipping to the $0.00023 and $0.00025 resistance levels in the near term. The $0.00028 level is the key target resistance to watch for such a flip.
There’s a close support for pullback at $0.000181. If that support fails to contain drops, the $0.000162 and $0.000141 levels are next to keep in mind.
Key Resistance Levels: $0.000211, $0.00023, $0.00025
Key Support Levels: $0.000181, $0.000162, $0.000141
- Spot Price: $0.000193
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.