Terra Classic (LUNC) is consolidating around $0.000062 after a recent rally failed, dropping just below the resistance level of $0.000064.
The 4-hour chart shows the price floating above both the 50-EMA and 200-EMA, but the upward momentum is weak. The Bollinger Bands are narrowing, hinting at a contraction in volatility. Resistance at the descending trendline around $0.00006440 continues to cap gains, according to technical indicators.
The intraday pattern shows an ascending wedge, key support tested
On shorter timeframes, an ascending wedge appears to be forming with visible demand between $0.000059 and $0.000060.
If this support is breached, the price could return to the liquidity zone of $0.0000591. Recovery to $0.0000645 remains critical for any upward push, while $0.00006750 will be the next growth zone to test.
Forecast for May: range restriction or reversal?
Price dynamics of LUNC (November 2024 - May 2025)
Looking at the daily and weekly charts, LUNC shows ongoing indecision, primarily remaining in the range between $0.000059 and $0.000064 for the past few weeks. Meanwhile, the 4-hour chart shows that the 20-EMA and 50-EMA are attempting to cross above the 200-EMA, signaling a short-term bullish structural shift, but this is not yet confirmed.
Meanwhile, the MACD histogram is losing momentum, and the stochastic RSI has begun to decline after reaching overbought levels, indicating that upward pressure may be waning.
From a broader perspective, LUNC is still trading significantly below the Fibonacci level of 0.786 at $0.000081. Key recovery zones remain distant at $0.000117 and $0.000137. Without an increase in volume, these levels are unlikely to be revisited in the near future.
Will LUNC buyers step in or let $0.000060 slip away?
Terra Classic is likely to remain in its current narrow trading range at the beginning of May unless volume and momentum increase. A confirmed break below the support of $0.000060 could lead to further declines towards the area of $0.000056–$0.000059.
Conversely, a recovery to $0.0000645 on strong volume could push LUNC into the resistance zone of $0.000067–$0.000071. For now, the corridor of $0.0000590–$0.0000645 is a critical reversal range for LUNC.