Chart Summary:
Trend Channel (Blue & Red): The price is currently trading in an ascending channel, suggesting short-term bullish momentum.
Key Levels:
1. Support: Around 0.00005100
2. Resistance turned Support (Flip Zone): Around 0.00005700
3. Current Price: 0.00005951
Breakout Attempt: The price has broken above the horizontal resistance (~0.00005700) and is now retesting it as new support — a classic bullish breakout confirmation.
Interpretation:
1. Bullish Bias in Short-Term:
– Since the price is inside an ascending channel and has flipped resistance into support, bulls have a clear edge.
– If it holds above 0.00005700, LUNC could continue to rise toward the top of the channel, potentially testing levels around 0.00006200 – 0.00006400.
2. Bearish Scenario:
If price falls back below the 0.00005700 zone and closes below the lower trendline, the bullish momentum may fade, leading to a possible retest of support at 0.00005100.
Potential Next Moves:
Scenario
Bullish Continuation : The Trigger above 0.00005700 will and target 0.00006200 – 0.00006400
Bearish Rejection : The trigger will be the rejection from current level & close below 0.00005700 and target 0.00005100 until the support.
