Terra Classic Price Prediction: Will LUNC Break The Bearish Grip?

Terra Classic witnessing selling pressure noted on the charts and it is in a prolonged downtrend, forming lower lows over the past few months. Moreover, due to declining investor interest, trading volume was below average.

Furthermore, the Terra Classic showed a decline in user activity which also reacted as a negative sentiment for the crypto and led to bearishness in the charts. The ongoing trend favors bears, and the crypto was also in a bearish phase, which made buyers cautious. Moreover, the Terra Classic trades below the significant moving averages.

At the time of writing, the Terra Classic pric

e is trading at $0.00006004 with an intraday drop of -0.68% Moreover, the intraday trading volume decreased by 15% to $13.74 Million and the market cap is $363.73 Million.

Crypto has had a poor performance over the years. Year-to-date it gave negative returns of -58.59% and -59.06% in the span of 6 months. In the last month, it gave a negative return of -25.12% and -4.91% in the last seven days indicating a long bearish trend continuing till now.

Technical Analysis of Terra Classic Crypto

Price in 1-D Timeframe.

At the time of publishing, Terra Classic crypto (LUNC) is trading below the 50 and 200-day SMAS (Simple moving averages), which do not support the price trend.

The current value of RSI is 30.09 points. The 14 SMA is above the median line at 32.05 points which indicates that the Terra Classic crypto is bearish.

The MACD line at -0.000000403 and the signal line at -0.000000418 are above the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the LUNC crypto price.

4 Hour time frame Technical Analysis.

On the 4-hour charts, the Terra Classic price is stuck in a narrow range and does not signal any rise because of low volume levels. Moreover, a key indicator is still in the neutral range and does not signal any bullishness.

The MACD indicator still showed green bars on the histogram with a bullish. crossover but did not signal.