Terra Classic (LUNCUSD) Price to Turn Upside Soon
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Terra Classic (LUNCUSD) Price Forecast: February 6
LUNCUSD price may likely turn upside to resume its bullish race soon. The coin is on the verge of reversal at the moment as the market is oversold. An increase in the bulls’ pressure may break up the supply mark at $0.00059500 and this may swing up the crypto price to a $0.00060000 upper resistance mark and beyond.
Key Levels:
Resistance Levels: $0.00030000, $0.00040000, $0.00050000
Support Levels: $0.00016000, $0.00015000, $0.00014000
LUNC (USD) Long-term Trend: Bullish (Daily Chart)
Terra Classic is in an upward move in its long-term perspective. The price bar is slightly above the EMA-50 indicating a bullish trend.
The price drop to the $0.00019016 support value during yesterday’s session has made the coin price trade below the supply levels in its recent low.
The inflow from the bears dropped the coin price to a low at the $0.00017355 value below the moving averages even as the daily session opens today. Thus, traders who buy the coin during a bearish market session will also make profits.
Hence, should the bulls respond to the shift in the trend and push the price upwards, a further bearish thesis would be nullified.
In addition, the market is oversold already and the price may likely reverse and turn upside soon, this now calls for more buyers to emerge soon and push the LUNCUSD price to the upside, and in this case, the bullish correction rally might extend the coin price to the $0.00060000 upper resistance value in the coming days in the higher time frame.
LUNC (USD) Medium-term Trend: Bearish (4H Chart)
The price of LUNCUSD is in a bearish move in its medium time frame. The prices are seen slightly below the moving averages, this is due to the brief returns of sellers which may soon fade off. 
Now, the current pullback at the $0.00018261 supply value as the 4-hourly chart opens today indicates the return of the long traders to stage a play and dominate the market actions.
Should buyers prove strong and move the price above the previous high at the $0.00021073 mark, further selling pressure will be hibernated.
Hence, the Terra Classic market is now below the 20% range of the daily stochastic. This means that the market is oversold. This will compel the bulls to resume the bullish trend. We can certainly expect more gains and strength from the coin now.
As a result of this, the pair may likely grow to reach the $0.00060000 resistance level in the days ahead in its medium-term outlook.
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