๐จ LUNC/USDT โ 4H Technical Analysis ๐จ
Currently, LUNC/USDT is trading around 0.00005913 on the 4H Binance chart. Price action has been moving in a sideways consolidation phase for quite some time, with two key zones clearly visible:
๐น Upper Zone (Resistance): Near 0.00007000 โ 0.00008000
๐น Lower Zone (Support): Around 0.00005000 โ 0.00005200
๐ After a strong pump towards the upper zone, LUNC faced rejection and gradually slipped back into the consolidation range. The market has since formed a descending triangle/wedge pattern, with price squeezing between lower highs and stable support. This indicates that a big breakout move is loading soon โ either bullish or bearish.
๐ Scenarios to Watch:
โ Bullish Breakout: If price breaks above the descending wedge, we could see a sharp move towards 0.000065 โ 0.000070 first, and later even test the upper zone.
โ Bearish Breakdown: A rejection from this wedge and break below 0.00005800 may drag the price back into the lower zone (0.00005000 area).
โก Traderโs Eye Tip:
In such consolidation ranges, patience is key. Wait for a clear breakout or breakdown confirmation with volume before taking positions. Avoid chasing the market in the middle of the range โ let the price tell its direction first.
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