The price of Terra Luna Classic (TLC) is to skyrocket by 50%, but there’s a caveat. Despite the promise of gains, investors should be aware that they could be taking a considerable risk if they choose to invest in this volatile altcoin.
TLC’s value is known to fluctuate dramatically, often making massive swings in a short amount of time. While it may be enticing to jump on board and try to capitalize on the potential profits. Traders investing should proceed with caution and carefully consider the risks before committing their money.
The price of Luna Classic (LUNC) has been in a short-term downtrend but appears to be showing signs of a potential reversal. If LUNC is able to turn the $0.000170 resistance level into a support level, it could experience an upswing of 50% to reach $0.000257.
Questions on Luna’s classic price
However, if LUNC does not manage to break through the $0.000170 barrier, it could suggest that there is a lack of conviction from those in the market. Thus indicating a potential weakening in momentum and investor sentiment.
If Luna Classic’s price produces a daily candlestick close below the lower limit of the daily demand zone, at $0.000138, it would create a lower low and invalidate the bullish thesis for LUNC.
This occurrence would be the ultimate indication that buyers are no longer in control. Leading to a rapid 5% correction to $0.000132 or even as far as the December 16 swing low at $0.000120.
Such a bearish move would be highly disruptive to current market prices. Thus and could be indicative of a shift in investor sentiment away from long positions in Luna Classic.
