- 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.
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.
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