LUNC Price Could Continue Its Ascent Towards $0.0002
LUNC recently managed to surpass the resistance level at $0.00011695 over the past few days and maintained its position above this threshold at the time of writing. If the altcoin can successfully conclude a daily trading session above this significant price level, it might establish a solid foundation for a potential advance towards the subsequent barrier.
Under this optimistic scenario, LUNC could potentially embark on a path toward $0.00014915. This particular price point serves as the final major obstacle preventing LUNC from reaching the resistance level at $0.0002. Consequently, a daily closure above $0.00014915 may pave the way for a notable surge in the cryptocurrency's value, potentially reaching $0.0002 within the next two weeks.
It's important to note that this bullish outlook could be invalidated if LUNC experiences a daily candle closure below $0.00011695 within the next 72 hours. Investors and traders should be aware that the probability of a temporary price retracement for LUNC has increased following its impressive 28.57% surge on Sunday and an 18.42% spike on Tuesday.
Given these substantial price movements, it's possible that traders may soon decide to capitalize on their LUNC holdings by taking profits. In the event of a correction in the cryptocurrency's price, it's likely to test the critical support level at $0.00009905.
However, despite the looming potential for a price decline, technical indicators on LUNC's daily chart continue to signal that its bullish momentum remains intact. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are displaying bullish signals.
The MACD line is diverging upward from the MACD Signal line, indicating the possibility of ongoing positive momentum for LUNC. Simultaneously, the RSI line maintains a bullish position above the RSI Simple Moving Average (SMA) line, suggesting that buyers still hold a dominant position in the market.
Under this optimistic scenario, LUNC could potentially embark on a path toward $0.00014915. This particular price point serves as the final major obstacle preventing LUNC from reaching the resistance level at $0.0002. Consequently, a daily closure above $0.00014915 may pave the way for a notable surge in the cryptocurrency's value, potentially reaching $0.0002 within the next two weeks.
It's important to note that this bullish outlook could be invalidated if LUNC experiences a daily candle closure below $0.00011695 within the next 72 hours. Investors and traders should be aware that the probability of a temporary price retracement for LUNC has increased following its impressive 28.57% surge on Sunday and an 18.42% spike on Tuesday.
Given these substantial price movements, it's possible that traders may soon decide to capitalize on their LUNC holdings by taking profits. In the event of a correction in the cryptocurrency's price, it's likely to test the critical support level at $0.00009905.
However, despite the looming potential for a price decline, technical indicators on LUNC's daily chart continue to signal that its bullish momentum remains intact. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are displaying bullish signals.
The MACD line is diverging upward from the MACD Signal line, indicating the possibility of ongoing positive momentum for LUNC. Simultaneously, the RSI line maintains a bullish position above the RSI Simple Moving Average (SMA) line, suggesting that buyers still hold a dominant position in the market.
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