- 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.
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