LUNC experienced a continuous decline in early June, and short-term selling pressure has not yet eased significantly. Foreign media analysis suggests that although the token has seen a significant drop in recent days, the upward structure over higher timeframes has not been completely broken. The market's focus now is on whether a clear reversal signal will emerge in the short term.

A drop of over 30% in six days

The report noted that LUNC has fallen by approximately 30.82% since June 1st, marking five consecutive days of declines. During the same period, daily trading volume increased by about 20% compared to the previous day, but still failed to return above the 20-day average, indicating that while trading activity has rebounded, the momentum is insufficient to reverse the current weakness.

The market had previously anticipated that LUNC would have a chance to break through the resistance level near $0.000087. However, as Bitcoin fell below $75,000, short-term sentiment weakened, and LUNC also encountered resistance near this level, subsequently falling below the $0.000072 support level.

High-cycle support remains.

Foreign media believe that, from a higher timeframe perspective, LUNC's main trading range remains around $0.000035 and $0.000123. Based on this structure, the 78.6% Fibonacci retracement level near $0.000054 is still considered a demand zone, meaning that bulls have not completely exited.

From the perspective of capital and volume indicators, the Chaikin money flow indicator remains in the neutral zone, indicating that selling pressure has not yet spiraled out of control. The OBV has only declined slightly over the past month, also suggesting that the pace of capital outflow has not yet increased further.

However, momentum indicators remain bearish. The MACD has fallen below the zero line, reflecting that downward momentum continues in the short term. The report suggests that recent defensive signs near the "golden retracement zone," while providing some support to bullish sentiment, are not yet sufficient to constitute a clear entry signal.

Short-term focus: $0.0000686

From an hourly chart perspective, LUNC has not yet completed a structural uptrend. Foreign media points out that only if the price reclaims $0.0000686 can it be considered that the bulls have regained short-term control. This level also represents a previous local high; only a break above this level will allow for a clearer correction in the short-term structure.

For swing traders, this signal also helps determine the strength of buying pressure and provides a clearer reference for subsequent price movements. Overall, LUNC remains weak in the short term, but the support at higher timeframes has not completely failed. Whether it can recover key price levels will be a key focus for the market.