The LUNC price’s strong upswing that is maintained throughout the week was recently challenged by the shaky Bitcoin price actions. However, the asset has managed to resume the uptrend despite the BTC price continuing to trade below $20,000. This displays the extreme strength of the coins and their tendency to reclaim the lost positions at the earliest.
But will LUNC price manage to eliminate another zero in the upcoming week?
The LUNC price began to stabilise ever since the minting of new coins was halted. Moreover, the community voted and passed the LUNC burn proposal that destroyed some amount of the token during each transaction. At the press time, the price is floating within the $0.000133 to $0.000145 range and indicating huge chances of a breakout in the next couple of hours or days.
Also Read: Crypto Space May Show Some Signs of Recovery, Will Bitcoin(BTC) Price Rebound to Hit $22,000?
- The LUNC price is swinging with a symmetrical triangle and is about to reach the apex of the consolidation
- Therefore, the asset may face a minor pullback by another 5% to 7% during the weekend which may end the consolidation
- The plunge is expected to induce a catapult action that may kickstart a strong upswing towards the next target close to $0.0002
- However, the asset may encounter a crucial resistance somewhere around $0.000188 where-in the possibility of rejection also emerges
- Here the asset may either rebound quickly after a 2% to 3% drop or plunge heavily below $0.00015 levels
- Once these levels are cleared, testing the upper target may be pretty easy without much exhaustion
Levels to Keep a Watch-On
Resistance: $0.00013951
Support: $0.00011619
Market Sentiments: Bullish
Moving Average (50) : $0.00012153
Moving Average (200): $0.00009485
Also Read: Watch Out for these Target Levels as Cardano (ADA) Price Gears Toward a Breakdown
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