Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn

Terra Classic ($LUNC) Breakout: Can the RSI Hold for a Massive Rally?

CryptonewslandCryptonewsland2024/09/11 14:00
By:Cryptonewsland
  • Terra Classic ($LUNC) shows strength post-breakout, backed by a bullish RSI.  
  • Investors are targeting a 567% surge, with $LUNC’s price aiming for $0.000593.  
  • Key support levels and RSI will determine $LUNC’s potential for further gains.

Terra Classic ($LUNC) has been showing significant strength lately. After breaking out, $LUNC’s price held firm, supported by a bullish RSI (Relative Strength Index). 

Investors are now eyeing a target of $0.000593, which would mean a 567% increase from current levels. But can this momentum last? Let’s explore what might be coming next.

$LUNC (Terra Classic) Prices and RSI holding breakouts and prices are showing major strength off of a breakout retest!

This could be the beginning stages of a massive uphill run!

Target: $0.000593 (Over +567% Away) 😱 https://t.co/qiMShrWbiq pic.twitter.com/g4agzXH2yv

— JAVON⚡️MARKS (@JavonTM1) September 10, 2024

Strength in Breakout Retests

After the breakout, $LUNC underwent a retest, a common move in technical analysis. What’s notable here is that the price didn’t collapse. 

Instead, it bounced back, showing bulls still have control. This kind of price behavior suggests $LUNC could be primed for further gains.

The RSI is a key metric to watch. Right now, it’s sitting comfortably in bullish territory, above the midpoint. This shows that buyers are still in the driver’s seat. 

If the RSI holds, we might see a sustained rally. A strong RSI often signals that buying pressure is outpacing selling, keeping the momentum alive.

Read CRYPTONEWSLAND on google news

What’s Next for $LUNC?

If $LUNC holds this momentum , reaching the target of $0.000593 might not be out of reach. However, the market can be unpredictable. Traders should keep an eye on support levels. 

If $LUNC falls below key support, it might signal a reversal. But if it stays above, the bulls could push prices higher.

The next few days will be critical. The RSI and key support levels will tell us whether $LUNC is ready for another leg up. The market is watching closely for signs of a bigger breakout.

$LUNC is holding strong after its breakout, and the RSI remains bullish. A 567% surge may seem ambitious, but the technical indicators are in favor of more upside.

disclaimer read more

Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Stake to earn
CEC, QTLX, GDV and other popular new coins are in hot progress!
Stake now!

You may also like

Announcement on Resumption of FIL Network Withdrawal Services

We’re pleased to announce that we have resumed FIL withdrawal services. We apologize for any inconvenience caused during the suspension of these services, and thank you for your patience and support! Join Bitget, the World's Leading Crypto Exchange and Web 3 Company Sign up on Bitget now >>> Follow

Bitget Announcement2024/09/17 14:44

A Huge Bitcoin (BTC) and Ethereum (ETH) Move Came From Singapore's Largest Bank!

DBS Bank has announced that it will offer over-the-counter (OTC) cryptocurrency options trading and structured notes to its corporate clients.

Bitcoinsistemi2024/09/17 14:42