Terra Classic: Potential Accumulation

Jul 30, 2023

It finally looks as though Terra Classic (LUNC) is forming an accumulation range. Either that. or it's one hell of a H&S distribution. The volume metrics seem to indicate an accumulation campaign by Smart Money, however. This would explain the solid floor it's held since the SCLX, and the diminishing volume in both supply and demand during periods of lateral consolidation. Don't take it past the 1.618% Fibonacci if it does markup. This level would triple mitigate the PS and demand test area (UTA), and I imagine would prove strong resistance. Play it by ear.

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