Terra Luna Classic price simmers as LUNC bulls attempt takeover

Terra Luna Classic is trading more calmly after its big decline in March.
LUNC finds support and sees bulls underpinning price action.
Expect to see a mild grind higher with a retest of the April high.

Terra Luna Classic (LUNC) price is finally moving in calm surroundings as traders are being met with a more stable price action behavior. LUNC sees its price action underpinned near $0.00012000, and that means some good news for bulls who venture to join in. With these trading conditions, a retest of April’s high is a sure thing, bearing a 5% gain and possibly more.

Terra Luna Classic attracts more participants as it trades with common sense

Terra Luna Classic price has its volatility indicator at a low level as price action moves steadily sideways. Finally, bulls can enter with a bit of confidence as LUNC seems to have found some stable ground. Expect to see more interest and inflow from investors as price action appears to be underpinned a bit at $0.00012000.

LUNC traders could start to add to their position slowly but surely as price action will slowly start to pop higher. Ideally, a simple retest of the high of April at $0.00012743 would be bearing a nice 5% gain without entering into any crazy positions. Even a false break that tips $0.00013000 would hold a nice 7% gain for this week.

LUNC/USD 4H-chart

In terms of overall longer-term positioning, a big systemic risk is still holding in the US Dollar and stablecoins pegged to it. As several banks have been pencilling in that a weaker US Dollar is the favorite trade for this quarter, the trade could become overcrowded and simply turn the other way. A severely stronger US Dollar could put pressure on stablecoins and might see LUNC printing near $0.00011000 on the back of that.

Share: Cryptos feed

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.