Foreign media analysis suggests that Terra Classic (LUNC) has pulled back after breaking through multi-month resistance, but the current trend has not yet completely destroyed the medium-term upward structure. The market's focus now is on whether the price can regain buying support near key support levels.
$0.000072 becomes the first level to watch.
The 4-hour chart shows that LUNC approached the $0.000072 resistance level, which had been around for about nine months, at the end of April. It then broke through to the upside and continued to rise over the next two weeks, reaching a high of $0.000123, representing a cumulative increase of about 69.7% above the breakout level.
Now that prices have returned to this level, the market is watching to see if the previous resistance level can turn into support. The article argues that a significant rebound from this area would indicate that the bulls remain in control.
Fund flows still favor buyers
Looking at the indicators, although the Money Flow Index (MFI) mentioned in the article has declined compared to the previous few days, it still shows a continued inflow of funds. The Cai Jin Money Flow Index (CMF) reading is approximately +0.11, which also reflects that buyers still have the upper hand.
Meanwhile, the previous upward phase was accompanied by consistently higher-than-average trading volume, indicating that the earlier surge was not entirely driven by short-term sentiment but rather supported by certain demand. Based on this, the article concludes that if LUNC holds above $0.000072, it may still have the potential to test higher levels again.
A drop below 0.000066 USD could extend the pullback.
However, the article also points out that if prices continue to weaken, $0.000066 will be another more crucial short-term support level. This level is both a local low on the 4-hour chart and corresponds to a relatively obvious liquidity accumulation area on the 1-month liquidation heatmap.
If this level is breached, the price could fall further to the $0.000057 to $0.000060 range, or even retest the $0.00004 to $0.00005 demand zone. According to the calculations in the article, this means LUNC could potentially fall another 13% to 25% from its current level, but this decline may not necessarily completely destroy the longer-term bullish outlook.
