The price motion of the asset eventually switched to a tremendous rise, resulting in a staggering 78 percentage point increase over the course of the past two weeks.
Regardless of the conclusion, it is possible that a significant decline is on the horizon, which might provide short traders with a lucrative opportunity. The uptrends of LUNC experienced a brief pause at the beginning of September. Despite the temporary drop in price, the alternative token continued to exhibit bullish strength.
This week got off to a strong start for LUNC on September 5 with a big bullish activity. Despite this, the alternative cryptocurrency experienced another wave of buying momentum during the course of this publication. At the time of this writing, the price of LUNC was about $0.00035, which indicates a decline of 22% from the most recent weekly high. That pointed to gloomy markets, but there were other factors that could have exacerbated its downward momentum.
Opportunity That Comes With A High Terra Risk Profile Potentially.
The altcoin has already reached a high enough price to pique the interest of profit bookers who are interested in selling part of their holdings. However, this is not the only reason that lends credence to the possibility of a negative outcome. The price of the alternative cryptocurrency moved in the opposite direction of the RSI (Relative Strength Index), which is the most common indicator of an impending pivot.
In contrast to the formation of a higher high by LUNC's price, the Relative Strength Index produced a lower high. This indicates that the trend is weakening, which is consistent with the increased likelihood of a reversal. During the time that this article was being written, the alternative coin had already given up part of the profits that it had obtained. Because of this, it was forced to take the trip away from the land that had been overbought.
There is no guarantee that events will turn out negatively even when there are warning signs pointing in that direction. Investors should exercise caution because LUNC has garnered a lot of attention recently and could be entering an era of extraordinary price increase. The enormous amount of social volume lent credence to that interpretation.
Additionally, a positive shift in the weighted sentiment was found in relation to the asset's social volume rise. These metrics provide the impression that LUNC may yet see a tremendous demand in the vicinity of its current value. In addition, the sentiment of investors continues to be in an attractive buy region, which lends support to the chances of a confined sell-off in LUNC.
Despite the overwhelming signals, short sellers should carefully assess the dangers associated with investing in LUNC. In addition, the unfavorable market condition can put pressure on the price of Terra Classic, but only time will tell what the end result will be. In point of fact, forthcoming price tendencies continue to be exciting to watch.
Abiola Issa Mukaila 29 w