- LUNA Classic price has crashed 69% from its all-time high and is currently trading at $0.000200.
- A minor run-up to $0.000220 followed by a 23% crash to $0.000167 seems likely.
- A daily candlestick close above the $0.000245 hurdle could propel LUNC to $0.000280.
LUNA Classic price reveals a bearish outlook that could unfold over the course of this week. A minor run-up seems plausible, but it is just a move to squeeze the bulls. Therefore, market participants should be ready for a quick reversal.
In a recent development of the ongoing hunt for Do Kwon, South Korean law enforcement mentioned that the International Police (Interpol) has issued a “Red Notice” on TerraForm Labs’ CEO. According to the Interpol website, a Red Notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.
This development could see LUNC technicals deteriorate and crash lower.
LUNA Classic price ready for more losses
LUNA Classic price has plummeted roughly 69% from its all-time high at $0.000593 and currently hovers around $0.000200. This development could see a further sell-off, but a potential rally might come first as the crypto markets open up to a fresh week.
Therefore, investors should be prepared for a 12% run-up to the $0.000220 resistance level. In some cases, this move could briefly extend to $0.000245 to retest the high volume node seen in the volume profile to the left side of the chart.
A rejection at $0.000220 or $0.000245 could be a key to opening a successful LUNA Classic price short position. The resulting downswing could retest the support box, extending from $0.000166 to $0.000157. Interestingly, this level coincides well with the high volume nodes and from a price action perspective.
This move would nearly constitute a 25% downswing and could be where buying pressure could step in and pause the LUNA Classic price hemorrhage.
LUNC/USDT 1-day chart
On the other hand, if LUNA Classic price sees a speculative spike in buying pressure that pushes it to produce a daily candlestick close above $0.000245, it will invalidate the bearish thesis.
Such a situation could see buyers push LUNA Classic price to $0.000280, which is the highest volume traded since August 19.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Dogecoin and Bitcoin Cash Price Prediction: Funding rates decrease indicate weakness in DOGE and BCH
Dogecoin and Bitcoin Cash registered 3% and 8% losses on Tuesday following increased selling pressure from the futures market. The decline comes amid large-cap cryptos like Bitcoin, Ether and XRP, holding still with slight gains.
XRP could sustain rally amid growing ETF and SEC vote prospects
Ripple flaunted a bullish outlook, trading at $2.1505 on Tuesday. Investor risk appetite has continued to grow since the middle of last week, propping XRP for a sustainable upward move triggered by the swift decision by US President Donald Trump to suspend reciprocal tariffs for 90 days.
VeChain Price Forecast: VET bulls aim for a double-digit rally
VeChain price hovers around $0.023 on Tuesday after breaking above a falling wedge pattern the previous day; a breakout of this pattern favors the bulls. Bybit announced on Monday that VET would be listed on its exchange. Moreover, the technical outlook suggests rallying ahead, targeting double-digit gains.
Dogecoin, Shiba Inu and Fartcoin price prediction if Bitcoin crosses $100K this week
The meme coin market fell sharply on Monday, shedding 4.8% in market capitalization to settle at $49.25 billion, according to data compiled from CoinGecko. The sell-off coincided with increased volatility across broader crypto markets while investors rotated funds into Bitcoin briefly tested $85,000.
Bitcoin Weekly Forecast: Market uncertainty lingers, Trump’s 90-day tariff pause sparks modest recovery
Bitcoin (BTC) price extends recovery to around $82,500 on Friday after dumping to a new year-to-date low of $74,508 to start the week. Market uncertainty remains high, leading to a massive shakeout, with total liquidations hitting $2.18 billion across crypto markets.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.