Token

Terra Classic

Terra

Gains

<img decoding="async" width="1421" height="800" src="https://coingape.com/wp-content/uploads/2024/05/LUNC-price-prediction-chart-1.jpeg" class="attachment-full size-full wp-post-image" alt="LUNC Price Prediction" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/05/LUNC-price-prediction-chart-1.jpeg 1421w, https://coingape.com/wp-content/uploads/2024/05/LUNC-price-prediction-chart-1-300x169.jpeg 300w, https://coingape.com/wp-content/uploads/2024/05/LUNC-price-prediction-chart-1-1224x689.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/05/LUNC-price-prediction-chart-1-768x432.jpeg 768w, https://coingape.com/wp-content/uploads/2024/05/LUNC-price-prediction-chart-1-678x381.jpeg 678w, https://coingape.com/wp-content/uploads/2024/05/LUNC-price-prediction-chart-1-150x84.jpeg 150w" sizes="(max-width: 1421px) 100vw, 1421px">
Over the past two months, the <a href="https://coingape.com/price/terra-luna-classic/">LUNC price</a> has gradually increased in anticipation of the upcoming LUNC burn by Binance, which is set to occur in two days. Today, Terra Luna Classic (LUNC) is trading at $0.00011, reflecting a 3.5% decrease in the last 24 hours and a 1% decrease over the past week. 
<h2 id="strong-lunc-price-analysis-bullish-setup-may-trigger-a-26-upside-in-the-short-term-strong">LUNC Price Analysis: Bullish Setup May Trigger a 26% Upside in the Short Term</h2> 
<figure id="attachment_199555" aria-describedby="caption-attachment-199555" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-199555" src="https://coingape.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-30-at-07.54.08.jpeg" alt="LUNC Price Chart | TradingView" width="1280" height="565" srcset="https://coingape.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-30-at-07.54.08.jpeg 1280w, https://coingape.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-30-at-07.54.08-300x132.jpeg 300w, https://coingape.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-30-at-07.54.08-1224x540.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-30-at-07.54.08-768x339.jpeg 768w, https://coingape.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-30-at-07.54.08-150x66.jpeg 150w" sizes="(max-width: 1280px) 100vw, 1280px">
 <figcaption id="caption-attachment-199555" class="wp-caption-text">
 LUNC Price Chart | TradingView
 </figcaption>
</figure> 
The LUNC price rebounded after a reversal following the March general market rally. Since April 15, the asset has been forming an ascending triangle chart pattern, considered bullish with a 63% probability of breaking to the upside and a 37% chance of breaking downward.&nbsp; 
The 200-day moving average is slightly above the current LUNC price, offering some resistance but not enough to push it down significantly. Terra Luna Classic’s price could quickly overcome this resistance with positive news.&nbsp; 
If the price breaks upward from the ascending triangle pattern, LUNC could see a 26% increase, reaching $0.000151. 
In an inverse scenario, the LUNC price may find support around $0.00009, a level it has tested twice in the past six months. The Moving Average Convergence Divergence (MACD) indicator is trending upward and is nearing the neutral mark. Additionally, both the LUNC price action and the MACD are moving in the same upward direction, indicating an overall bullish market sentiment for Terra Luna Classic. 
This upward trend in the MACD suggests strengthening bullish momentum, reinforcing the possibility of a positive price movement. If the LUNC price breaks above its current resistance levels, it could trigger a significant rally. However, if the price fails to hold, it might find stability at the $0.00009 support level, potentially setting the stage for future upward movements 
<h2 id="b-why-is-the-lunc-price-going-up-b-span-style-font-weight-400-span">Why is the LUNC Price Going Up?&nbsp;</h2> 
Investors have been accumulating LUNC over the past two months in anticipation of the upcoming token burn periodically carried out by <a href="https://coingape.com/new-upcoming-binance-listing/">Binance</a>. Historically, crypto burns have been bullish catalysts in the crypto market. Investors are optimistic that the upcoming burn event will positively impact LUNC’s price, reflecting this sentiment. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 As you know, the 4th is usually a strong breakout. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/LUNC?src=hash&amp;ref_src=twsrc%5Etfw">#LUNC</a> <a href="https://t.co/kurTXHthWH">pic.twitter.com/kurTXHthWH</a> 
 — Derek (@kimmyboy2) <a href="https://twitter.com/kimmyboy2/status/1795768089109569574?ref_src=twsrc%5Etfw">May 29, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
LUNC on-chain burns have been steadily increasing, with a popular Supply Change Tracker bot indicating that an average of 178 million LUNC tokens are burned daily. The total remaining supply of LUNC stands at 6,793,288,228,623. The LUNC community is eagerly anticipating the Binance burn, expecting it to significantly reduce the token supply 
<h2 id="b-bottom-line-b">Bottom Line</h2> 
As the LUNC supply dwindles, the value continues to stabilize, further proving to <a rel="nofollow" href="https://www.forbes.com/profile/do-kwon/?sh=4c6450bc1da3">Do Kwon</a> and the overall crypto industry that a united community is the greatest strength any crypto project could have. All eyes are on the Terra Luna Classic price to see how it performs post-burn. 
The post <a href="https://coingape.com/markets/lunc-price-terra-classic-eyes-26-gains-as-die-hard-community-anticipates-binance-periodic-burn-event/">LUNC Price: Terra Classic Eyes 26% Gains On Binance Periodic Token Burn Event</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

LUNC Price: Terra Classic Eyes 26% Gains On Binance Periodic Token Burn Event

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