LUNC Price Target $0.036: Analyst Highlights Multiple Bullish Signs

• The market is in a selloff mode, but positive predictions trail Terra Luna Classic LUNC.
• Market analysts shared key reasons why a rally is imminent for LUNC.

Amid the ongoing selloff in the broader market, the Terra Luna Classic (LUNC) has followed the downtrend. Despite this price trend, a crypto analyst is confident LUNC will see a positive momentum during this bullish cycle.

LUNC’s Bullish Indicators

A top crypto analyst with the username Derek on X highlighted multiple bullish indicators that can set LUNC on a higher price trajectory. Derek began his analysis with trade volume trends. He emphasized the importance of volume analysis, stating that it provides valuable insight into the strength and sustainability of price trends.

The analyst added that trading volume is a reliable indicator for providing insight into turning points and price prediction. Therefore, he believes LUNC’s future price can be predicted by comparing current volume to historical averages of spikes or drops. 

Volume plays an important role in the price discovery process.
Analyzing volume patterns can provide valuable insight into the strength and sustainability of price trends.
Measures the significance of volume spikes or drops by comparing current volume to historical averages.… pic.twitter.com/8yh2lQElz3

— Derek (@kimmyboy2) October 18, 2024

He posted a chart that showed key resistance zones and anticipated price fluctuations. The chart particularly focused on the LUNA collapse in May 2022, showcasing how oscillators and volume patterns correspond with price crashes. The graphical representation helps to determine key areas where inventory is built as prices decline, marking strong resistance and support levels.

Derek identified three key resistance zones for LUNC. The first zone is between $0.00026 and $0.00029, representing concentrated trading volumes. The analyst disclosed that the recapture of this section could lead to an acceleration phase driven by strong momentum. Intriguingly,  these targets are now more realistic following a recent LUNC blockchain upgrade, as reported by CNF.

The second identified zone is between $0.0026 and $0.0027, showing the strongest volume oscillator. The analyst described this zone as a waiting region for a large dumping occurrence where LUNC price correction seems inevitable. 

The third zone is between $0.032 and $0.036. This zone aligns with the final stage of a corrective wave pattern (A, B, C). Derek claims this range represents the cycle’s final destination, followed by a long convergence period and strong price adjustments.

How the Vortex Indicator Influences Price

Furthermore, Derek highlighted the Vortex indicator as another key metric influencing LUNC’s bullish momentum. The vortex indicator is used to spot trend reversals and confirm current trends over 14 periods. This technical tool reinforces the discovered resistance zones and forecasted price behavior.

Derek forecasted a bullish outcome for LUNC this cycle based on his analysis. He expressed conviction that LUNC will reach the $0.03 zone in the current cycle. However, he warned that LUNC may see minor and large fluctuations alongside its rising momentum, which could cause psychological stress for investors.

As of this writing, LUNC price was trading at $0.00008854, down 2.02% in the past day. The 24-hour trading volume decreased by 19.8% to $16.8 million, suggesting investors’ interest reset.

Derek advises investors to keep a positive outlook and be prepared for a difficult journey. With developers’ efforts, periodic token burns by Binance and other sources, and investors’ continued trust, LUNC can meet these targets.