Analyst Maps the Striking Target for TerraClassic(LUNC) Price, Ethereum Merger Impact May Fade Soon! – Coinpedia – Fintech & Cryptocurreny News Media
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The beginning of September marked a huge uptrend for TerraClassic (LUNC), which pushed the price close to $0.0006 from below $0.0002. While there was speculation that the price could still fluctuate north of $0.0007, the massive drop dragged the price below $0.00035 at press time. At the moment, a huge volume of sales has accumulated, due to which the LUNC price can fall sharply.
What went wrong? Did the impact of the Ethereum merger dissipate?
The crypto market has started consolidating since the early trading days, while the price battle of Bitcoin (BTC) and Ethereum (ETH) is difficult to sustain above $22,300 and $1,700 respectively.
Currently, the crypto market, including the LUNC price, is consolidating in a narrow range, but the downward trend may not continue for long.
A popular analyst, Altcoin Sherpalists Terra Classic (LUNC) price targets and believes the price will drop sharply in the coming week or 10 days.
According to the trading setup set by the analyst, LUNC price is expected to continue in the current downtrend until it breaks the support around $0.00024. He advises his 183,000 followers to go long at this point, as the price could rise nicely to as high as $0.00036 in the next two days.
Moreover, the bears can regain the upper hand and quickly drag the price below the decisive support, reaching $0.00016 or below. Currently, the highest price for Terra Classic is around $0.000297. If the asset bounces here, the downward trajectory may vary somewhat, otherwise a huge downtrend may be imminent for the LUNC price.
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