The post Terra Classic Crypto Rebounds From 50 EMA: Are Sellers Losing? appeared on BitcoinEthereumNews.com.

Terra Classic crypto retreats on the second consecutive day amplifying signs of weakness over the charts. The bears dragged the price lower yesterday after the price failed to break higher and a bearish pin bar candlestick was noted over the charts.  However, the bulls tried to counter the selling pressure in the evening sessions but Tuesday’s candle still closed in red. On Wednesday, the bears resumed to drag the price down from yesterday’s closing and have been dominating in the morning session. By the time of writing, the price was at $0.00011 with a negative intraday development of 3.49%. Currently, the LUNC crypto price is hovering near the 20 and 50-Day EMAs. Now, if the buyers make a comeback in the second half of the sessions, the price may experience a recovery and reclaim highs. Has Terra Classic Crypto Turned Bearish In the Short Run? The daily charts show a positive trend that prevailed in the last couple of weeks which has not been violated yet, though the bears have showcased their presence near the recent supply zone at $0.000137.  The short term outlook is positive until the price is maintained above the recent swing low at $0.000111 which is also near the 200-Day EMA. The bull may keep entering until the price hovers above the recent swing low and try to push the price near the higher supply level.  Fresh downside moves may be noted on the charts if Terra classic crypto price breaks below the recent low and trades comfortably near it. It may validate the chances of a trend reversal towards the bearish side and the price may crash to the lower levels of $0.00010 and $0.000090.  Terra Classic Price Analysis From Technical Point of View? The technical indicators imply a positive outlook in the long term…

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Filed under: News - @ February 22, 2024 12:20 am