- Maybe there is nothing that can stop an upcoming dump on LUNC at all. The bears are really strong here and we are currently 60% down from the previous swing high.
- As you can see, the price is breaking down from the local descending triangle and heading downward to the abyss. Also, we have a descending parallel channel , and we can possibly touch the bottom of the channel!
- If you think LUNC is a great coin, then you can buy LUNC at 0.00013, which is a reasonable place to buy because there is a great confluence.
- As per my Elliott Wave analysis, the uptrend from September 26 to October 2 was just a 2 wave corrective move. This is definitely not what you want to see as a bull.
- You can be sure I will also be bullish on LUNC, but first I want to see some bullish price action, and this is definitely not a bullish price action!
- But on the other side, this coin is a perfect opportunity for the bears to short this coin on the futures market.
- Look at my idea about XRP in the related section down below.
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