Terra Classic (LUNC) Faces Resistance at $0.00006440, Awaits Breakout

Terra Classic (LUNC) is currently trading around $0.000062, with a significant resistance level at $0.00006440 that has been capping its upward momentum. The price has formed a rising wedge pattern, with support levels at $0.000059–$0.000060 under pressure. Momentum indicators have turned neutral as bulls await a breakout above $0.0000645 for confirmation.

On the 4-hour chart, the price is floating above both the 50-EMA and 200-EMA, but the upward momentum is weak. Bollinger Bands are narrowing, suggesting a potential volatility squeeze. A descending trendline resistance near $0.00006440 continues to limit gains, according to technical indicators.

On shorter timeframes, a rising wedge pattern is forming with visible demand between $0.000059 and $0.000060. If this support breaks, the price may revisit the $0.0000591 liquidity zone. Reclaiming $0.0000645 remains critical for any upward push, with $0.00006750 as the next upside zone to test.

Looking at the daily and weekly charts, LUNC has shown continued indecision, remaining largely range-bound between $0.000059 and $0.000064 over the past few weeks. While the 4-hour chart shows the 20-EMA and 50-EMA attempting to cross above the 200-EMA, signaling a short-term bullish structure shift, this is not yet confirmed. The MACD histogram is losing momentum, and the Stochastic RSI has started turning lower after reaching overbought levels, suggesting that upside pressure may be fading.

From a broader view, LUNC is still trading well below the 0.786 Fibonacci level at $0.000081. Key recovery zones remain distant at $0.000117 and $0.000137. Without volume expansion, these levels are unlikely to be revisited in the near term.

In early May, Terra Classic will likely remain within its current tight trading range if volume and momentum do not pick up. A confirmed breakdown below the $0.000060 support could lead to further declines towards the $0.000056–$0.000059 area. Conversely, reclaiming $0.0000645 with strong volume could propel LUNC towards the $0.000067–$0.000071 resistance zone. For now, the $0.0000590–$0.0000645 corridor is the critical pivot range for LUNC.

Analysts are divided on whether LUNC can break out of its current range. Some believe that the recent relief rally and the formation of a rising wedge pattern indicate potential for an upward move. However, others point to the weakening momentum indicators and the lack of volume expansion as signs that LUNC may continue to struggle. The outcome will depend on whether bulls can muster enough strength to push the price above the $0.0000645 resistance level or if bears will take control and drive the price lower.