Terra Classic (LUNC) Consolidates Near $0.000062 After Recent Relief Rally Failed

Terra Classic (LUNC) is consolidating near $0.000062 after a recent relief rally failed just under the $0.000064 resistance level.

Terra Classic (LUNC) is consolidating in early May as recent attempts to break above the $0.000064 resistance failed to gain enough momentum.

On the 4-hour chart, LUNC is currently floating above both the 50-EMA and 200-EMA, but the bulls are struggling to maintain strong upward pressure.

The Bollinger Bands are also narrowing, which could indicate an upcoming period of low volatility. A descending trendline resistance, visible on the chart near $0.00006440, continues to limit the cryptocurrency's gains, according to technical indicators.

Intraday Pattern Shows Rising Wedge, Key Support Tested

On shorter timeframes, there appears to be a rising wedge pattern forming with visible demand between $0.000059 and $0.000060.

If this support breaks, it could lead to a retest of the $0.0000591 liquidity zone. Reclaiming $0.0000645 remains crucial for any significant upward push, with the next upside zone to test being around $0.00006750.

May Outlook: Range-Bound or Reversal?

Looking at the daily and weekly charts, LUNC continues to show a lack of direction, 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.

Meanwhile, the MACD histogram is losing momentum, and the Stochastic RSI has started turning lower after reaching overbought levels, suggesting that the 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 any significant volume expansion, it's unlikely that these levels will be revisited in the near term.

Will LUNC Buyers Step Up Or Let $0.000060 Slip?

Terra Classic will likely remain within its current tight trading range in early May unless there is a strong increase in volume and momentum.

A confirmed breakdown below the $0.000060 support could lead to further declines towards the $0.000056-$0.000059 area.

Conversely, reclaiming $0.0