$LUNC Price: Bears Hold Strong Despite Recent Losses

Terra Classic ($LUNC) has been experiencing a decline in value over the past six days, dropping by 30.82% since June 1. Despite this significant decrease, the altcoin's higher timeframes remain bullish.

On the price charts, $LUNC has shown five consecutive red days, with a breakdown below the crucial $0.000072 support level. However, the coin's trading volume has increased by 20% over the past day, but still remains below the 20-day moving average.

The higher timeframes of $LUNC are influenced by two key levels: $0.000035 and $0.000123. The swing structure hinges on these levels, with the 78.6% retracement level at $0.000054 currently serving as a demand zone.

Indicators such as the CMF (Commodity Margin Funding) and OBV (On Balance Volume) suggest that selling pressure is not overwhelming, but momentum remains bearish, with the MACD below the zero line.