Evaluating the 25% correction buffer that keeps LUNC’s macro structure valid
Tech Evaluating the 25% correction buffer that keeps LUNCs macro structure valid Bitcoin Ethereum News Towards the end of April, Terra Classics [LUNC] price approached the 9-month resistance level at $0.000072. At the time, the Awesome Oscillator momentum indicator as well as the A/D volume indicator made a bearish divergence with the upward price trends on the 4-hour chart. Source: LUNC/USDT on TradingView Two weeks later, the altcoin was about to retest the same resistance level as support. It had rallied by 69.7% beyond the multi-month resistance to reach a swing high of $0.000123. The lower timeframe weakness the bulls exhibited back then was blown away by the strength of the following demand though. Now, that same level is being tested. LUNC bulls conviction will be tested Terra Classic bulls have a chance to show their strength. A strong reaction from the $0.000072-level would cement their dominance in the market. The technical indicators supported their bid for supremacy. The MFI has receded in recent days, but continued to show capital inflows. Also, bullish momentum seemed to have the upper hand too. The CMF unambiguously showed buyer dominance with a reading of +0.11 to signal sizeable capital inflows. The rally two weeks ago saw above-average trading volume for a sustained period