Ahhh… Another Try By Terra Classic (LUNC) To Break The Triangle Is Rejected

 


Hi friends hope you are well and welcome to the new update on LUNC.

Another rejection:

On a 1-hr time frame LUNC has formed a symmetrical triangle and was recently again rejected by the resistance of the triangle. But as the triangle is quite squeezed now, therefore, it can break this triangle soon. After some candlesticks wicks to the downside the move is changed from symmetrical to descending triangle, which is now also visible on the 4-hr time frame as below:

TradingView Chart

 

 

Cup & Handle:

On a 4-hr time frame, Terra classic has also formed a Cup & Handle, which is a bullish continuation pattern. If LUNC breaks out the resistance of the aforementioned triangle, then it can also break out the resistance of the Cup & Handle pattern as well.

TradingView Chart

For a detailed analysis and targets, you can also watch the video.

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