• Terra Luna Classic price seems poised to print a series of green candles after bouncing off support at $0.0001584.
• The daily time frame chart shows the formation of an ascending triangle pattern, with the potential to break out to $0.0002764.
• Initial buy orders could be placed above the slope of higher lows for a plausible profit booking at the horizontal resistance.
Terra Luna Classic Price Prediction
Terra Luna Classic (LUNC) is currently trading at $0.0001666, having gained almost 5% in the day and looks ready to break out from an ascending triangle pattern which could take it up to $0.0002764. If bulls manage to push through this critical resistance level, LUNC can expect significant gains in the near future as traders may place buy orders above the slope of higher lows for profit booking at resistance levels above $0.0002.
The daily time-frame chart shows that Terra Luna Classic (LUNC) is forming an ascending triangle pattern, which is marked by a horizontal resistance level and a slope of higher lows indicating bullish momentum building up for a breakout move above this critical resistance level close to $0.0002. The Stochastic oscillator also reinforces this sentiment by indicating that buyers have taken control as it moves up from oversold territory.
If bulls are successful in breaking past this key resistance, LUNC can expect gains reaching up to 36%, with its target set at $0.0002764 based on extrapolation of the widest points of the triangle beyond its x-axis resistance point close to $0.0002 .
Short Term Profitability
In order for LUNC’s uptrend to continue, it needs to break and hold above 23.6% Fibonacci retracement level before heading towards further gains eyeing targets set around$ 0.00018 and then eventually at around$ 0.0002 mark as indicated by Stochastic oscillator moving closer towards oversold region reinforcing bullish control in market sentiments surrounding Terra Luna Classic price movement in short term profitability outlooks .
Overall Terra Luna Classic (LUNC) looks poised for considerable growth if bulls manage to push through the major hurdle presented by the 23:6% Fibonacci retracement level and initiate long positions above its x-axis resistance point close to$ 0 .0002 mark , supported further by Stochastic oscillator which indicates buyers have taken control in bullish grips on LUNC’s price movements closing in on oversold territories .