LUNC Targets Major Breakout with Ascending Triangle Approaching Key Resistance

• $LUNC forms an ascending triangle, hinting at a potential bullish breakout.
• Key resistance at 0.00009125 remains crucial for confirming the breakout.
• Failure to break could lead to consolidation or a bearish move.

Terra Classic ($LUNC) could be on the verge of a major breakout. Price action hints at an ascending triangle pattern, suggesting a bullish trend. Buyers have consistently pushed prices higher, forming a series of higher lows. However, sellers have been guarding a key resistance level.

The upcoming days may reveal whether $LUNC can break through or face further consolidation. Traders are keenly observing, waiting for a decisive move.

Ascending Triangle Pattern: Bullish Momentum or Just a Tease?

The ascending triangle pattern shows growing confidence among buyers. $LUNC has been forming higher lows, suggesting increased demand and bullish momentum. Yet, sellers have held the line at the 0.00009125 resistance, blocking any sustained rallies. A breakthrough here could lead to significant gains.

Typically, a breakout from this pattern matches the height of the triangle, which might send $LUNC soaring to new levels. Volume remains a critical factor. Without a surge in buying activity, even a breakout may not hold. However, if buyers overwhelm this resistance level, $LUNC could enter a strong bullish phase.

Critical Support Levels: Key for $LUNC’s Next Move

Despite the bullish setup, risks still linger. Failing to breach the 0.00009125 mark could lead to further consolidation. The last higher low, around 0.000076, stands as a critical support level. Falling below this point could invalidate the bullish pattern, making a downturn more likely.

In that case, attention would shift to the next support around 0.000043, where buyers previously stopped a decline.Two key moving averages also influence the action: MA(50) and MA(200). Both hover near current prices, indicating consolidation.

The MA(200) at 0.00009 acts as a significant resistance. Breaking above could signal a shift in market sentiment, favoring bulls. Conversely, failing to hold above 0.00008 might trigger a bearish move, testing lower support zones. $LUNC’s fate hangs in the balance, with traders ready for a breakout or breakdown as the market approaches a critical moment.