Terra Luna Classic Price Prediction as LUNC Surges by 10% – Where is the Next LUNC Target?

cryptonews.com:

Crypto bulls are on the offensive following an eventful event characterized by disclosures of exposure to fallen United States banks. Terra Luna Classic price spiraled massively during the weekend as investors reacted to the messy events surrounding Silicon Valley Bank (SVB) and Signature Bank New York.

On the bright side, support at $0.00012 stood its ground and stopped LUNC from stretching the leg to $0.00012. Experts had predicted the token may sweep through the liquidity at this price level if it slipped beneath the broken support at $0.00014.

A sharp and immediate recovery was also anticipated from the same support area and true to the forecast, Terra Luna Classic aggressively sprung upward on Monday to trade at $0.0001336 at the time of writing.

With an over 167% increase in the 24-hour trading volume to $123 million, LUNC could be suitably positioned to recover the lost ground, bringing $0.00021—the new 2023 high within reach.

Traders often use the increase in volume to gauge the level of interest among investors. In other words, it shows their willingness to accumulate which translates to a stronger momentum behind LUNC.

Terra Luna Classic price is gradually easing into a V-shaped recovery that could see it tag $0.0021 in a few weeks – perhaps months. However, the question among investors is, can LUNC price sustain this reflex upswing?

From the daily timeframe chart below, we can deduce that support at $0.00012 secured a lot of liquidity for Terra Luna Classic price and is the main reason for the 10% bullish move.

Still, LUNC appears ready to hit pause and secure another higher support, preferably above $0.0001325 before staging another offensive attack on $0.00014.

The same daily chart brings into the technical outlook