{"id":41938,"date":"2022-12-08T20:04:58","date_gmt":"2022-12-09T00:04:58","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=41938"},"modified":"2022-12-08T20:05:02","modified_gmt":"2022-12-09T00:05:02","slug":"weekly-altcoins-analysis-terra-luna-classic-and-ripple-xrp","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/weekly-altcoins-analysis-terra-luna-classic-and-ripple-xrp\/","title":{"rendered":"Weekly altcoins analysis. Terra Luna Classic and Ripple (XRP)"},"content":{"rendered":"\n<p>The <a href=\"https:\/\/coinscreed.com\/staging\/beware-of-this-fake-terra-luna-classic-lunc-scammer.html\">LUNC coin<\/a> price has declined over three consecutive days, the price reversed from a downward trendline, and breached $0.000167 in local support.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/pyPA98cUZOqMmY-xXXI_ceSFgbYL2W9gGdQAL34tyH9cjsCLjjxrn_t6uDfOUOl9ER_8fREQyHrPlACLjLd6-AuxG5sYMrfVxKOhvdfaWZTOmCyBCAA-IcNau1iK_Y4nXCUNOwixlt41z2HOnpj0Hb6fjBr8f2CajYXZs5md3Rpg5WeLhZoiezPZLpwzag\" alt=\"\" \/><figcaption class=\"wp-element-caption\">Weekly altcoins analysis. Terra Luna Classic and Ripple (XRP)<\/figcaption><\/figure>\n\n\n\n<p>The current price of the coin is $0.000165, and a daily close below the mentioned support will intensify the current selling pressure. This development encourages further Terra coin price declines.&nbsp;<\/p>\n\n\n\n<p>A <a href=\"https:\/\/coinscreed.com\/staging\/top-5-chart-patterns-every-trader-needs-to-know.html\">descending trendline <\/a>governs the ongoing decline in the price of Terra classic coin.&nbsp;<\/p>\n\n\n\n<p>As the bullish divergence in the RSI indicator, which reflects the rate and magnitude of the coin's recent price, indicates a greater likelihood that buyers will breach the trendline's resistance level.&nbsp;<\/p>\n\n\n\n<p>The intraday trading volume of LUNC coins is $89,500,000, representing an increase of 11.2%.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/A2canE9bVGAwx1fhQXl80Mcxu658XRhReqYcz6_01Do0vsXC1YuORvbJA4Dae2VAdr3rUXlswWsD-_8z4YFY-xOiK-aIwQN79zE3ZUWAErZ4xR9tff9wvzyvBJp_ykcxekg4G0U4yu9rYOqr8iSOs1t4GzFI6mzeW3f7B-rIdASVfUC67qpEzW1e1B7rxA\" alt=\"\" \/><\/figure>\n\n\n\n<p>Under the influence of a descending trendline, LUNC's price action has demonstrated a consistent decline over the past two months. <\/p>\n\n\n\n<p>This resistance has been violated three times by the altcoin, indicating that traders are actively selling on rallies.&nbsp;<\/p>\n\n\n\n<p>Recent LUNC price reversal from the ascending trendline is a result of the ongoing volatility on the crypto market. As a result, prices fell 8% and are currently trading at $0.000165 per unit.&nbsp;<\/p>\n\n\n\n<p>If market sentiment remains bearish, the coin price could fall another 10% to retest the previous swing low support range of $0.00015-0.000147. <\/p>\n\n\n\n<p>Losing the mentioned support would amplify the selling momentum and cause the price to plummet to the psychological level of $0.0001.&nbsp;<\/p>\n\n\n\n<p>In contrast, a potential breakout from this trendline will signal an impending price recovery.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-statistical-indicators\">Statistical Indicators&nbsp;<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-relative-strength-index\">Relative strength Index<\/h3>\n\n\n\n<p>In contrast to the sideways price action, the daily RSI slope increased significantly, indicating an increase in buying activity at the lower level. This <a href=\"https:\/\/coinscreed.com\/staging\/how-to-read-cryptocurrency-charts.html\">bullish divergence<\/a> also increases the likelihood of the LUNC price breaking the trendline above.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ema\">EMA<\/h3>\n\n\n\n<p>With the recent bearish reversal, the coin price has plummeted below the 20-day EMA slope, giving market sellers an additional advantage.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-daily-lunc-price-levels\">Daily LUNC Price Levels.&nbsp;<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Spot rate: $0.000165&nbsp;<\/li>\n\n\n\n<li>Bearish trend&nbsp;<\/li>\n\n\n\n<li>Moderate volatility&nbsp;<\/li>\n\n\n\n<li>Resistance level- $0.000167 and $0.000187 Support level- $0.00015 and $0.000125<\/li>\n<\/ul>\n\n\n\n<p>The Ripple (XRP) Price Is Influenced By A Bearish Pattern; Maintain Your Position?&nbsp;<\/p>\n\n\n\n<p>For the past three weeks, the <a href=\"https:\/\/coinscreed.com\/staging\/ripple-will-settle-in-minutes-if-sec-confirms-xrp-is-not-security.html\">XRP<\/a> price has increased in response to the inverted flag pattern. The altcoin has returned to the pattern's support trendline and is attempting to regain bullish momentum. In addition, the reversal signals at $0.39 and the support trendline suggest the ongoing recovery will continue for a few more trading days.\u00a0<\/p>\n\n\n\n<p>The long price rejection candles at the pattern's support trendline initiate a new bull cycle.&nbsp;<\/p>\n\n\n\n<p>A bull cycle within the <a href=\"https:\/\/coinscreed.com\/staging\/top-5-chart-patterns-every-trader-needs-to-know.html\">inverted flag pattern <\/a>positions the XRP price for a 12 percent increase.\u00a0<\/p>\n\n\n\n<p>Lastly <a href=\"https:\/\/www.investopedia.com\/articles\/active-trading\/052015\/simple-way-read-intraday-volume.asp\" target=\"_blank\" rel=\"noopener\">The intraday trading volume<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a> of XRP is $823.5 million, representing a loss of 5.66 percent.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/6UIhsiXf5O5EErO8p-35hsExGLtr7SJEDTjf9fcZ3bZg3HLLdyxs0opVigZOAOkswhyctAZH-xh1R7UT5rduMPOSia7wtz-wVWbk24Q4W1PxRTDDZSUIO8_zRa2AcwPvhKBJT6xG1DH0PcPY4zJbSD6UX-V1074nRbSWfsaNX3g1bY2S7pr6IIO_dBSF3w\" alt=\"\" \/><\/figure>\n\n\n\n<p>Regarding the <a href=\"https:\/\/coinscreed.com\/staging\/ripple-discloses-xrp-holdings-under-50-for-first-time.html\">XRP<\/a> price decline in early November, the ongoing recovery demonstrates the formation of an inverted flag pattern. This bearish continuation pattern is frequently observed in an established downtrend, and the break of its support trendline intensifies the selling pressure.\u00a0<\/p>\n\n\n\n<p>The price of XRP is currently $0.389 and is retesting the pattern support trendline. In addition, the long-tail rejection candles, rising trendline, and $0.388 market price indicate a high likelihood of a bullish reversal.&nbsp;<\/p>\n\n\n\n<p>In contrast, the volume decline during the recent recovery suggests this bullish rally is temporary. Thus, if the selling pressure persists, this pattern will be triggered when a daily candle closes below the support trendline. In response to the chart pattern, the price of XRP may fall to $0.36.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-technical-indicators\">Technical Indicators<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ema-1\">EMA<\/h3>\n\n\n\n<p>The level 20-, 50-, and 100-period exponential moving averages (EMAs) highlight XRP's sideways price action. In addition, the movement of these EMAs above the coin's price provides an additional barrier to price growth.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-relative-strength-index-1\">Relative Strength Index<\/h3>\n\n\n\n<p>The daily RSI slope that oscillates around the zero line indicates market participants' neutral sentiment.&nbsp;<\/p>\n\n\n\n<p>Spot price: $0.39&nbsp;<\/p>\n\n\n\n<p>Trend: Bullish&nbsp;<\/p>\n\n\n\n<p>Volatility: Moderate&nbsp;<\/p>\n\n\n\n<p>Resistance level: $0.4 and $0.46&nbsp;<\/p>\n\n\n\n<p>Support level: $0.38 and 0.03<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The LUNC coin price has declined over three consecutive days, the price reversed from a downward trendline, and breached $0.000167 in local support.&nbsp; The current price of the coin is $0.000165, and a daily close below the mentioned support will intensify the current selling pressure. This development encourages further Terra coin price declines.&nbsp; A descending [&hellip;]<\/p>\n","protected":false},"author":42,"featured_media":41943,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25],"tags":[132,7787,11986],"class_list":["post-41938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","tag-crypto","tag-luna-2","tag-xrpl"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/12\/2B421410-DAD4-4A6B-917D-5A590C89C85A.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/41938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/42"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=41938"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/41938\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/41943"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=41938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=41938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=41938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}