Key Insights:
- Terra Classic (LUNC) consolidated near support with declining volume and engagement.
- MANTRA (OM) collapses after unsustainable rally, breaking long-term trendline.
- Analysts warn of speculative risk amid fading confidence and weak momentum.
Terra Classic price recently struggled to break the horizontal accumulation range of the last few trading sessions. The asset currently ranges within a low volatility of $0.00005700 – $0.00006000, with no notable direction.
The short-term market indecision can be seen as price behaviour within this channel. Historical review suggests Terra Classic has recovered with similar price levels in previous cycles. Traders are expecting an external catalyst for big moves.
The asset still fails to break decisively above the upper band of the range. Due to this, any minor bullish fluctuations are not enough to suggest much buying momentum. This further affirms that neither buyers nor sellers are in control.
The presence of frequent wicks above and below the current range is often evident. The market appears indifferent, possibly due to fatigue from intense volatility. Another factor might be the lack of compelling developments in the Terra Classic ecosystem.
Terra Classic Price Faces Selling Pressure Amid Weak Confidence
The recent trading activity of the LUNC token shows a steady drop in volume. This decline is particularly evident in the red candles, influencing the Terra Classic price trend. This means that selling pressure is very strong.
Volume delta analysis shows a strong negative bias, as there is greater sell-side volume than buy orders. This implies market players will soon tire of the positions, even though the price is generally stable.
The decline in this volume is consistent with a weakening confidence in the asset as a short-term investment opportunity. The breakdown of accumulation patterns often happens when the negative volume delta persists over time.
This usually occurs without any clear indications of a reversal in trend. Considering this, the low Average Directional Index (ADX) readings stand at 25.
This indicates that any emerging trend would not yet be able to gain momentum. Any breakout attempts above resistance, without volume support, are typically met with rejection or shortsightedness.
Terra Classic Trading Between Long-Term Support and Resistance
Terra Classic price was positioned slightly above a key support zone in the higher time frame. This band lies between $0.00005125 and $0.00005700.
Past cycles have indicated that this zone has acted as a reversal point for buyers to feel reassured. Nevertheless, upward mobility is still restrained, with resistance levels yet to achieve $0.00021000 to $0.00024700.
Theoretically, a 370% upside would be possible if the token hit that resistance. However, as this is purely speculative and contingent on external drivers, it is not a forecast.
No technical evidence, such as bullish divergence, volume spikes, or momentum indicators, indicates such a move will take place shortly. The token is trapped inside a larger down structure, moving lower highs and repeated squares, checking support.
Overall, the tokens’ metrics showed fragility. Terra Classic price was $0.00005967 at press time, and its market capitalization was $324.38 million. The 24-hour trading volume has diminished by over 22% to $7.29 million, which shows a loss of interest.
A volume-to-market-cap ratio of only 2.24% highlighted that traders and investors are not submitting enough to attract traders’ attention.
Terra Classic’s narrative shows decreased risk appetite and increased cynicism. Currently, LUNC is in short-term stability. However, it has no strong momentum, volume support, or fundamental strength to sustain any recovery.
For now, LUNC remained under heavy technical pressure. This has made it increasingly sceptical of short-lived rallies and deceptive bottom signals.