LUNC slides 37% in 6 days as support breaks; watch $0.0000686 reversal
Terra Classic (LUNC) remains bearish after a breakdown. The latest update says LUNC logged five straight red days, down about 30.82% since June 1 and roughly 37% over the last 6 days. Trading volume rose ~20% but failed to clear the 20-day moving average, suggesting buyers are not yet overpowering sellers.
Price action is still driven by key levels. After rejection near the $0.000087 resistance area, LUNC lost $0.000072 support. Earlier technical notes add that Parabolic SAR has been above price for seven straight days, and momentum signals remain weak (MACD below zero). Aroon readings also point to bearish conditions unless Aroon Down turns up and crosses Aroon Up.
For traders, the “wait for confirmation” message is consistent across both articles. The demand zone is highlighted around the 78.6% retracement near $0.000054. On the 1-hour chart, a bullish shift is not confirmed; LUNC needs to reclaim $0.0000686 to signal buyers are back and to clarify bullish invalidation for swing setups. If downside levels fail, the next move could be another double-digit leg lower from current ranges.
Bearish
Both articles converge on the same setup: LUNC is breaking down after losing an important support zone ($0.000072) following rejection near $0.000087. Volume uptick is not translating into sustained demand (it did not reclaim the 20-day moving average). Multiple momentum/structure indicators remain bearish: Parabolic SAR above price for seven days, MACD below zero, and Aroon conditions that would require confirmation from Aroon Down to turn up and cross Aroon Up. Although higher timeframes are said to retain a broader bullish structure, the 1-hour chart has not confirmed a bullish shift. Traders are therefore advised to wait for a reclaim of $0.0000686; until then, the path of least resistance stays downward, with the $0.000054 demand area positioned as the next magnet and further downside potentially extending.