The strong rally in LUNC price, which was maintained throughout the week, was recently challenged by volatile bitcoin price action. However, despite BTC price continuing to trade below $20,000, the asset has managed to resume the uptrend. This reflects the immense strength of the coins and their tendency to recover lost positions as quickly as possible.
But will the price of LUNC manage to eliminate another zero in the coming week?
The price of the LUNC began to stabilize after the minting of new coins stopped. In addition, the community voted and passed the LUNC burn proposal which destroyed some amount of tokens during each transaction. At press time, the price is moving in a range of $0.000133 to $0.000145 and this indicates a great potential for a breakout in the next few hours or days.
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- LUNC price is swinging along a symmetrical triangle and is about to approach the top of the consolidation
- Hence, the asset may face a slight decrease of 5% to 7% during the weekend which could end the consolidation.
- The dip is expected to prompt catapult action which could kickstart a strong rally towards the next target near $0.0002
- However, the asset is likely to face a significant resistance near $0.000188, where the possibility of rejection also emerges.
- Here the asset could either rally sharply or drop significantly below the $0.00015 level after a drop of 2% to 3%
- Once these levels are cleared, it can be much easier to test the upper target without over-exhaustion.
monitoring level
Resistance: $0.00013951
Support: $0.00011619
Market sentiment: Bullish
Moving Average (50): $0.00012153
Moving Average (200): $0.00009485
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