Luna Classic price is hovering above a stacked support level structure that could induce a quick run-up. However, a breakdown of this support level will indicate the presence of bears and trigger continuation.

Luna Classic consolidated on August 31 and September 4 before price skyrocketing 168% in under a week. This tightening created selling and buying climax levels at price of $0.000221 and $0.000301, respectively.

Luna Classic price ready to shoot higher

Since these support levels have set the tone for the Luna Classic price action that came after, it is worth noting that the LUNC deviated below the lower limit and is attempting to stay above it. If LUNC price stays above this level, it will signal that the buyers are defending this support level.

If the market conditions are right, investors can expect LUNC price to bounce off the $0.000165 to $0.000234 demand zone and kick-start a new price rally that retests $0.000260. This move would constitute a 17% price gain from the current position. While a local top could form here, a spike in buying pressure could propel Luna Classic to retest the upper limit at $0.000301.

On the other side, if Luna Classic fails to maintain its bullish momentum above price of $0.000221, it will indicate a lack of interested holders/buyers and could drive the LUNC deep inside the $0.000165 to $0.000234 demand zone.

A twelve-hour candlestick chart close below the $0.000160 level will create a lower low and invalidate the bullish price thesis for Luna Classic. In this case, LUNC price could retest the $0.000137.

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