LUNA Classic (LUNC) price has recorded another drop in the last 24 hours. Last week, LUNC he recorded a profit worth 2.5%. A lot of the weekly gains were lost due to the loss on the daily chart.
At the moment, LUNC is showing consolidation below the immediate resistance mark. The FTX collapse has teetered on the bearish side for quite some time, with the coin losing more than 10% of its market value last month.
On the development side, we have a new update. This is TerraDart’s new alpha introduction to his package. TerraDart, a Dart SDK used to create applications that interact with the Terra blockchain, has launched a new package called Alpha. An Alpha package is available for communicating with the LUNC blockchain within Flutter and Dart environments.
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Luna Classic (LUNC) Price Analysis: 1-Day Chart
LUNC was trading at $0.000162 at the time of writing. Altcoins fell from $0.000170 due to intraday losses. As the ecosystem has evolved, the price of LUNC has remained largely unchanged. A strict price cap was he at $0.000175, but demand for the coin was too low for the bulls. If the altcoin breaks his $0.000175, it will be an easy path to $0.00019 psychological level.
Conversely, when accumulation is low, LUNC looks to the nearest support line at $0.000148. Below $0.000148, LUNC is $0.00012. The volume of LUNC traded in the last session was low, indicating bearish strength.
Last month, the coin showed a bullish divergence, after which LUNC noticed a slight rise in price. The Relative Strength Index was near the 40 mark. This means the coin is moving towards the oversold zone.
Similarly, LUNC price has broken below the 20 Simple Moving Average, indicating a lack of demand. This measure also shows that sellers were driving price momentum in the market.
In terms of buying strength, the lack of investor interest has also reduced capital inflows. Chaikin money flow represents the inflow and outflow of capital at a given point in time. The indicator was below half price, meaning less capital inflows.
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A directional index indicates the general price direction and trend of an asset. DMI was negative because the -DI (orange) line is above the +DI (blue) line. The Average Directional Index (red) is below the 25 mark, indicating that the current price action is weakening.
LUNC is currently trading 100% below its all-time high set about eight months ago.