Summary
• Price declined from $0.00006812 to $0.00005447, with bearish momentum visible in the 5-minute chart.
• RSI and MACD signaled weakening momentum, with RSI approaching oversold territory by close.
• Volatility was muted but consistent, with Bollinger Bands narrowing toward the end of the session.
• Volume and turnover remained stable, with no significant divergence from price action.
• A bearish engulfing pattern emerged near the high, suggesting short-term bearish bias.
Terra Classic/Tether (LUNCUSDT) opened at $0.00006812 on December 10 at 12:00 ET, reached a high of $0.00006829, touched a low of $0.00005392, and closed at $0.00005447 on December 11 at 12:00 ET. Total volume was 113.4 billion LUNC, and notional turnover hit $6.13 billion over the 24-hour period.
Structure and Key Levels
Price action formed a distinct bearish trend over the 24-hour window, with key resistance failing at
$0.00006829, and support temporarily holding near
$0.00005392.
A bearish engulfing pattern emerged during a retracement from the high, suggesting sellers regained control. No significant doji or reversal patterns were observed, but the price remained below both the 20- and 50-period moving averages on the 5-minute chart. Daily moving averages, including the 50, 100, and 200 SMA, also remained above current price levels, reinforcing a longer-term bearish setup.
Momentum and Oscillators
MACD continued to trend lower, with the signal line catching up from below, hinting at potential bearish momentum consolidation. RSI crossed into oversold territory by the close, reaching the
30–35 range. This could suggest a short-term bounce or a possible continuation of the downtrend, depending on whether buyers respond at oversold levels.
Volatility and Bollinger Bands
Volatility remained relatively low throughout the session, with Bollinger Bands contracting slightly in the final hour. Price remained in the lower half of the bands for much of the day, consistent with a bearish trend and consolidation under the midline. No sharp expansions or contractions were observed.
Volume and Turnover Analysis
Trading volume and turnover were relatively stable, with no significant spikes that would suggest a short-term reversal or accumulation. Price and volume actions aligned, with lower prices coinciding with moderate to high turnover, especially during the bearish leg from
$0.00006812 to
$0.00005447.
No notable divergence was observed between volume and price during this period.
Fibonacci Retracements
Applying Fibonacci retracement levels to the key daily swing from
$0.00006812 to
$0.00005392, the price found support at
$0.0000555 (61.8% level), which failed as resistance turned support during a minor rebound. The 50% retracement at
$0.0000610 held as resistance in the 5-minute chart, indicating a likely continuation of the bearish phase.
The market appears to be in a consolidation phase under key Fibonacci and moving average levels, with bearish momentum intact. A test of the $0.00005392 level may trigger further selling, while a bounce above the 50-period MA could signal a potential countertrend. Investors should be mindful of the risk of a continued decline in the next 24 hours should support levels fail.
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