Market Overview for Terra Classic/Tether (LUNCUSDT)

Summary
• LUNCUSDT closed higher after a strong push above key resistance.
• Volume surged 42% in the final 6 hours, confirming bullish momentum.
• RSI entered overbought territory, hinting at potential short-term pullback.

Opening Summary

Terra Classic/Tether (LUNCUSDT) opened at 3.531e-05 on 2025-11-06 12:00 ET and closed at 3.557e-05 as of 2025-11-07 12:00 ET, reaching a high of 3.863e-05 and a low of 3.434e-05. Total volume for the 24-hour period was 3.32e11, with notional turnover amounting to 1.19e4.

Structure & Formations

The price action displayed a bullish reversal formation early in the session, followed by a strong rally into the session close. Key resistance appeared at 3.55e-05 and 3.6e-05, with strong buying observed above 3.55e-05. A bearish engulfing pattern formed around 3.46e-05 but was quickly reversed.

Moving Averages

On the 15-minute chart, LUNCUSDT closed above both 20 and 50-period moving averages, suggesting short-term bullish momentum. The 200-period MA on the daily chart remains below current price, indicating a broader bullish trend.

MACD & RSI

The MACD crossed into positive territory with a strong histogram, confirming the upward momentum. RSI reached 72, signaling overbought conditions and increasing the likelihood of a short-term pullback.

Bollinger Bands

Price moved above the upper Bollinger Band for several hours during the late afternoon, suggesting high volatility. A recent contraction in band width indicates a potential breakout is possible in the near term.

Volume & Turnover

Volume spiked in the final 6 hours of the session, reaching its highest level since the early morning. Notional turnover also increased by over 42%, aligning with the price rise and suggesting strong conviction in the move higher.

Fibonacci Retracements

Recent 15-minute swings suggest that 3.618e-05 and 3.684e-05 could be key retracement levels to watch. The 61.8% level of the larger daily move aligns closely with the 3.65e-05 price point, which appears to be a critical psychological level.

Backtest Hypothesis

While we attempted to backtest a MACD-Golden-Cross strategy on LUNCUSDT, the data source lacked the necessary historical record. A successful backtest requires clean, continuous data, which can be sourced from a known exchange (e.g., BINANCE:LUNCUSDT). Once available, we can apply the strategy and analyze performance across multiple cycles. Alternatively, we can replicate the test using BTCUSDT to illustrate the process.