Market Overview for Terra Classic (LUNCUSDT)

• Terra Classic (LUNCUSDT) closed at $0.00006806, down from $0.00007020 at 12:00 ET-1.
• Price action showed a bearish trend, with key support at $0.00006700 and resistance at $0.00007100.
• Volume surged during the early morning hours, confirming bearish momentum.
• RSI and MACD signaled weakening bullish momentum and bearish divergence.
• Volatility expanded in the morning session, with price dropping inside lower Bollinger Bands.

Terra Classic (LUNCUSDT) opened at $0.00007020 on 2025-07-21 at 12:00 ET and closed at $0.00006806 on 2025-07-22 at 12:00 ET. The 24-hour high was $0.00007246, and the low was $0.00006691. Total notional volume reached $11.3 billion, with a turnover of 167.2 billion LUNC.

Structure & Formations

Price action over the past 24 hours formed a bearish descending channel, with a key resistance level forming near $0.00007150 and a critical support near $0.00006700. A bearish engulfing pattern was observed during the early morning hours, signaling a potential reversal of short-term bullish bias. A doji formed near $0.00006980, indicating indecision and a possible consolidation phase.

Moving Averages

On the 15-minute chart, the 20-period MA (SMA) crossed below the 50-period MA, forming a bearish "death cross." On the daily chart, price remains below the 50, 100, and 200-period MAs, reinforcing the bearish bias. The 50-period MA is currently at $0.00006950, suggesting further downside could be expected if the price continues to trend below it.

MACD & RSI

MACD remained in negative territory for most of the session, with a bearish crossover in the morning hours. RSI declined from overbought levels (above 60) to neutral territory (around 50), suggesting weakening bullish momentum. A bearish divergence emerged in the late morning as RSI failed to rise with price, signaling potential further downside.

Bollinger Bands

Volatility expanded in the early morning, with price dropping below the lower band. This is typically a sign of oversold conditions, though it may also indicate bearish continuation. The bands have since widened, reflecting increased uncertainty in the market. Price has remained within the bands for the majority of the session, but a breakout could signal a new trend phase.

Volume & Turnover

Volume spiked sharply between 04:00 and 06:00 ET, confirming the bearish break below key support levels. Notional turnover also increased during this period, aligning with the price action. A divergence was observed in the afternoon, where volume declined despite continued price weakness, suggesting potential exhaustion in the bearish move.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from $0.00006691 to $0.00007246, key levels include 38.2% at $0.00007000 and 61.8% at $0.00006870. Price found temporary support near 61.8% during the late morning but failed to hold, suggesting further testing of the 50% level at $0.00006970.

Looking ahead, Terra Classic may face continued bearish pressure if it fails to retest and hold above $0.00006870. However, a rebound near $0.00006700 could trigger a short-term bounce. Investors should remain cautious, as volatility and divergence suggest a potential reversal or consolidation phase could emerge.