Terra (LUNA), MemeCore (M), and XDC Network (XDC) stand out as the top performers in the past 24 hours. LUNA leads with an impressive breakout of 40%, while MemeCore and XDC continue their positive momentum on Thursday, following gains of 6% and 3% respectively from the previous session. However, technically, all three altcoins are approaching key resistance zones – a factor that could temporarily hinder the current rebound.
Terra’s Uptrend Reaches Critical Resistance Zone
At the time of writing on Thursday, Terra is trading around $0.2002, experiencing nearly 100% growth in just one week. This strong breakout aims to close a clear candle above the July high at $0.1990 — a signal that could open up opportunities to conquer the important resistance area at $0.2490 (May’s peak).
Terra’s remarkable recovery, along with Luna Classic, is likely driven by the testimony of Do Kwon on Thursday, combined with a new network upgrade aimed at improving security, optimizing functions, and increasing stability across the Terra ecosystem.
Daily LUNA/USDT chart | Source: TradingViewOn the daily chart, the RSI indicator reaches 79, indicating an overbought market, which suggests that current buying momentum may lack sustainability. However, the MACD remains bullish with a widening green histogram, reflecting ongoing upward momentum.
Conversely, if Terra fails to hold above $0.2000, the price could revisit the 200-day EMA at $0.1427.
MemeCore aims for double bottom breakout
MemeCore continues to stay green in Thursday’s session, marking a third consecutive day of recovery. This week alone, the M token has increased by nearly 16%, after a 6% jump on Wednesday.
The steady recovery suggests the formation of a double bottom pattern (double bottom) around the support zone of $1.25, with the neckline (neckline) at the November 29 peak of $1.52. If M closes above this level, the bullish trend could extend to the 50-day EMA at $1.77, and potentially toward the Pivot R1 at $2.56.
Daily M/USDT chart | Source: TradingView RSI is currently at 39 and rising from oversold territory, indicating a bullish divergence and reinforcing the reversal signal from the double bottom pattern — thereby increasing the likelihood of a new upward trend.
Additionally, the MACD supports the bullish outlook, as it crossed above the signal line on Tuesday, expanding buy signals for MemeCore and indicating strengthening bullish momentum.
XDC Network Faces Challenges at Key Psychological Level
XDC Network experienced a nearly 1% decline at the time of writing on Thursday, following a 3% rebound the previous day. The correction kept XDC below the psychological level of $0.05000 and failed to break above the long-term resistance line connecting the peaks on July 29 and October 6.
To resume its upward trend, XDC needs a clear breakout above $0.05000 before testing the next resistance zone at $0.05200. However, two major hurdles remain ahead: the 50-day EMA at $0.05502 and Pivot R1 at $0.06141.
Daily XDC/USDT chart | Source: TradingViewFrom a technical perspective, the RSI at 41 is gradually moving toward oversold territory, reflecting persistent downward pressure. Conversely, the MACD indicates a positive signal with a bullish crossover — suggesting a potential recovery.
In a negative scenario, if XDC loses support at Pivot S1 (0.04593 USD), the price could continue to drop toward Pivot S2 at $0.03896.
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