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Terra Luna Classic Price Prediction – How High Can LUNC Rally in October?

Goran Radanovic
Last updated: | 2 min read

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Terra Luna Classic (LUNC) spiked at the end of September, giving investors hope that a reversal was on the cards after the coin crashed from $0.00059. Although LUNC broke out of the downtrend, buyers didn’t keep up the momentum at the $0.00036 resistance, and Terra Classic began forming lower lows.

The bears dominated the price action, and the price failed to break through key resistance levels. LUNC continued its downtrend throughout October. The only good news for the coin is that the downtrend formed a falling wedge, which is a reversal pattern.

                                                   LUNC 4-hour Chart
As LUNC nears the end of its wedge, it needs to break out of soon for investors to change their bearish sentiment. Another reason for the much-needed breakout is that LUNC is currently on strong support at $0.00024.

If it breaks through this support, chances are high that a significant price drop is imminent. Considering a breakout to the upside happens, LUNC will face resistance at $0.00032. If it breaks through the current support, a retest of the support at $0.00018 is a possibility.

One of the key technical elements that have proven to play out in the market is prices retracing after making a significant spike. The market needs to close the gap, so to speak. The price spiked 83% on 26 September. 

It seems that the price is returning to the point where the spike started to close the gap, as has happened to numerous assets.

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Although predicting the future is tough, D2T appears to have a very bright future, given its solid foundations.

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