Price of Terra Classic (LUNC) increases by 10 percent

Terra Classic’s price was up more than 10 percent in the past 24 hours as the breakout above the descending channel shifted market sentiment.

Price of Terra Classic is rising

The price of Terra Classic (LUNC) is up more than 10 percent in the past 24 hours. With that, LUNC performs the best of all top 100 crypto coins today.

The increase has brought Terra Classic’s market capitalization back above $1 billion. In addition, the 24-hour trading volume has increased by more than 165 percent.

The current rally is the result of a breakout above the 3-month bearish channel. So this breakout indicates a sign of price recovery. The RSI (Relative Strength Index) also jumped above the neutral line to 62, reflecting the shift in market sentiment. Thus, the LUNC price trend is showing strength and is likely to show more upside momentum.

In addition, the 20-EMA line appears to be moving up and is likely to cross the 50-EMA line. It will cause further upward movement for the price of Terra Classic as traders will turn bullish.

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