Here's how to grab hold of the next Terra Classic price swing trade


  • Terra Classic price has been confined within a tightening range for nearly a week. 
  • A breach from the confined range will likely result in a 15% swing trade for LUNC.
  • Traders can utilize the invalidation points mentioned below to participate in a trade.

Terra Classic price is showing a double scenario. A bullish and bearish thesis is articulated so Traders can participate in the next volatile swing trade.

Terra Classic price shows a double scenario

Terra Classic price continues to prompt questions as the digital asset has been confined in the $0.00017000 zone for nearly a week. The mundane price action harnesses the market sentiment as both bears and bulls are unsure of what will happen next.

Terra Classic price currently auctions at $0.00017060. At the time of writing, the back-and-forth price action occurs between the 8-day exponential and 21-day simple moving averages. While the converging market behavior usually results in a volatile move, the LUNC price could take several more days before an uptick in volatility occurs. Therefore traders must place automatic entries in the direction of their trading bias to catch the next trending move.

A breach above the weekly swing high of $0.00017080 will likely induce a retest of the $0.00020000 liquidity level. The bullish scenario creates the potential for a 15% increase from LUNC's current market. Invalidation of the bullish thesis would occur from a breach below the  8-day simple moving average at $0.00016420.

tm./hbar/.2/17/22

LUNC/USDT 1-Day Chart

However, a daily candlestick close beneath the 8-day exponential moving average will likely catalyze a 15% move towards the downside targeting the $0.00014550 region. Invalidation of the bearish scenario would occur from a breach above the 21-Day simple moving average at $0.00017060.

 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Ripple proponent attorney slams Michael Saylor’s stand on Bitcoin as perfect money, XRP dips to $0.47

Ripple proponent attorney slams Michael Saylor’s stand on Bitcoin as perfect money, XRP dips to $0.47

Ripple proponent Bill Morgan slams Michael Saylor for promoting Bitcoin as perfect money. XRP Ledger AMM has crossed a milestone of 20 million XRP tokens in Total Value Locked.

More Ripple News

Bitcoin price stalls as BTC miners reserve dwindle; market watches for impact

Bitcoin price stalls as BTC miners reserve dwindle; market watches for impact

Bitcoin spot ETFs show continuous outflow from June 13 to June 21. BTC miners have also seen a decline in their reserves. Bitcoin price is trading inside a descending wedge, and a breakout above $64,600 signals a bullish move.

More Bitcoin News

Week ahead: Bitcoin dips under $63,000, meme coins fade with steep correction in top five

Week ahead: Bitcoin dips under $63,000, meme coins fade with steep correction in top five

Bitcoin dipped under $63,000 on Monday, lowering crypto market capitalization by over 3%, per CoinGecko data. BTC is in a state of decline, and news of VanEck’s Spot Bitcoin ETF launch in Australia failed to improve traders' sentiment. 

More Cryptocurrencies News

Pepe poised for 20% crash

Pepe poised for 20% crash

Pepe price breaks below the ascending trendline support on Sunday, suggesting  a bearish move. On-chain data suggests that PEPE’s active addresses are decreasing, signaling lower demand for the network.

More Pepe News

Bitcoin: Is BTC out of the woods?

Bitcoin: Is BTC out of the woods?

Bitcoin appears poised for a slight decline this week, influenced by factors such as the German Government's deposit of over 1,700 BTC in exchanges, decreasing outflows in US spot ETFs, and on-chain data indicating no signs of BTC DeFi liquidation. 

Read full analysis

BTC

ETH

XRP