Terra Classic & Terra Price Trigger a Rebound: Will LUNC & LUNA Price Maintain a 25% Upswing This Week?

The post Terra Classic & Terra Price Trigger a Rebound: Will LUNC & LUNA Price Maintain a 25% Upswing This Week? appeared first on Coinpedia Fintech News

The crypto markets are undergoing a roller coaster ride, with the major tokens facing extreme pressure on either side. The accumulation of selling pressure over the top two tokens has allowed the other altcoins to swell, LUNC and LUNA being some of them. The Terra ecosystem tokens, Terra and Terra Classic have halted the recent descending trend, which indicates the prices are now ready for a fresh upswing. However, the question remains the same: will the prices of LUNC and LUNA maintain sustained growth or will they be lower high?

Terra Classic (LUNC) Price Waits for a Bullish Confirmation

The LUNC price has remained stuck within a falling wedge, which is considered to deliver a bullish outcome. The rebound from the lower support has revived the bullish possibility, while the fresh flip appears to have confirmed a bullish reversal. However, the bears may have remained stationed just below $0.0001 and an upswing from these levels may validate a trend reversal. 

The price is approaching the pivotal resistance zone between $0.00008977 and $0.00009596 and hence, one bullish push could revive a fine recovery from the bearish influence. Besides, the supertrend has flashed a bullish signal, which may keep up a strong ascending trend. Meanwhile, the DMI does not flash any strong signals as it remains neutral as of now. Therefore, a rise beyond $0.00009 may validate a bullish reversal, which may elevate the levels beyond $0.0001. 

With this, the Terra Classic price may validate a rise above the falling wedge, which may further trigger a 20% rise beyond $0.00012. 

Terra (LUNA) Price Eyes a 20% Rise to Hit $0.4

After undergoing a consolidated range between $0.56 and $0.67, the bears slashed levels below $0.35. However, the altcoin flipped and bottomed below these, which further initiated a bullish rebound. With this, the price has formed a bullish pattern and after a breakout, the LUNA price is believed to revive a strong ascending trend, triggering a 45% rise. 

The LUNA price is about to form a double-bottom pattern or ‘W-shaped’ pattern if the token maintains a strong ascending trend and reaches the crucial resistance between $0.44 and $0.46. The RSI is incremental but the price may revive a strong upswing if it manages to rise beyond 60, which has been a pivotal resistance. Therefore, the Terra (LUNA) price is required to maintain a healthy ascending trend, but the drop in volume could hinder the progress of the rally.