Should You Consider Terra (LUNA) & Terra Classic (LUNC) for the Upcoming Bull Run?
Bitcoin has begun its journey towards the long-awaited $100,000 milestone. At the same time, top altcoins have also begun to swell. Ethereum remains strongly above $3,600, and there is a huge possibility of breaking through $4,000 in the short term. Additionally, long-sluggish coins like XRP and Cardano (ADA) sparked significant gains and breached the psychological $1 mark. While market sentiment favors the bulls, the question is whether Terra ecosystem tokens Terra (LUNA) and Terra Classic (LUNC) will follow the trend and recreate a strong bull run.
Terra Classic (LUNC) Price Analysis
this Terra Classic Price The price has been under bullish influence since its rebound from the lows in August. While prices maintain a strong upward trend, the pace of gains remains limited to a small range. The coin does not appear to be following current trends, which may be a concern for investors.
As shown in the chart above, LUNC bulls failed to break above the resistance of the ascending parallel channel. Additionally, the DMI levels are moving lower, indicating that the price is likely to enter a bearish phase. On the other hand, the MACD is showing declining buying pressure and a bearish crossover could be another piece of the puzzle. Therefore, the technical picture and current trading setup suggest that Terra Classic price may face rejection and move back towards the $0.000112 support level.
Terra (LUNA) Price Analysis
Terra prices have failed to capture the attention of traders as the rise to current levels suggests widespread buyer efforts, but appears to be limited to a small scale. After range trading, LUNA price Triggering a strong rise, the cumulative increase exceeded 85%. However, bulls and bears are vying for dominance, and if the bulls win, the price can break not only the temporary barrier but also the resistance zone.
LUNA price is showing similar price action to LUNC, but the trade setup suggests a breakout may be around the corner. Balanced Volume, a volume-based indicator, has been consistently forming higher highs and lows, indicating that the rally remains bullish. Therefore, Terra price is expected to maintain the consolidating upward trend and touch the $0.56 resistance. If the bulls sustain above these levels, then it could trigger a sharp rise and move into a decision zone between $0.67 and $0.69, which could further lift the levels towards $1.
