$1000LUNC
June 4, 2025 | 9:58 AM
Currently trading at 0.06007 with a daily decline of -1.01%, indicating a continued clear selling pressure since its high at 0.07291. The price is now moving within a narrow sideways range with weak momentum, while supply exceeds demand.
° Analysis and Forecast
Downward movement with strong selling pressure within a sideways range
After rising to 0.07291, the price sharply retraced, then experienced some consolidation within a range between 0.05553 and 0.06173. The technical pattern likely shows an attempt to form an initial bottom, but with continued selling pressure at the supply levels, the current movement indicates a lack of buying strength. If the price continues to fail to break above the level of 0.06173, we may see further declines towards 0.0550.
▪︎ With orders centered at 0.06007, it should be monitored whether the price will break this level with strong volume, as this could be the start of a new downward wave.
▪︎ The selling pressure in this area reflects weak momentum, and the downward scenario remains the closest if the price fails to break through 0.06173. Support at 0.06000 will determine the fate of the next movement, and if broken, we anticipate further decline towards 0.05500.
Resistance:
0.06173 (temporary resistance peak)
0.06290 (higher resistance level for subsequent levels)
Support:
0.06000 (current support and important level to stay within the range)
0.05553 (previous technical bottom support)
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