Convergence

Token

Burn

Terra

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-anticipate-lunc-price-increase-due-to-binance-token-burn/" data-wpel-link="internal">Investors Anticipate LUNC Price Increase Due to Binance Token Burn</a><br></p>
<p style="text-align: justify">Over the past two months, <strong>Terra Luna Classic</strong> (LUNC) has seen a gradual price increase primarily due to the anticipation of a token burn planned by <a href="https://en.coin-turk.com/binance-announces-45th-launchpool-project-altlayer-alt/" data-wpel-link="internal">Binance</a> within two days. Currently, LUNC is trading at $0.00011, with a 3.5% drop in the last 24 hours and a 1% drop over the past week. This recent decline followed the broader <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a> rally in March, after which LUNC’s price recovered and began forming an ascending triangle pattern since April 15.</p> 
<h2 style="text-align: justify" id="strong-technical-analysis-and-price-predictions-for-lunc-strong"><strong>Technical Analysis and Price Predictions for LUNC</strong></h2> 
<p style="text-align: justify">The ascending triangle pattern observed in LUNC’s price chart is typically considered a bullish signal, with a 63% chance of breaking upwards and a 37% chance of breaking downwards. The 200-day moving average is hovering just above the current price, creating some resistance. However, positive <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">news</a> such as the upcoming token burn event could help LUNC overcome this resistance.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-357565" src="https://coin-turk.com/wp-content/uploads/2024/05/Altcoin-Binance-LUNC.jpeg" alt="" width="1280" height="565"></p> 
<p style="text-align: justify">If LUNC breaks upwards from the ascending triangle pattern, it could see a 26% rise, reaching approximately $0.000151. Conversely, if the price fails to break upwards, it may test the $0.00009 level, a level tested twice in the past six months.</p> 
<p style="text-align: justify">The <strong>Moving Average Convergence Divergence</strong> (MACD) indicator for LUNC is in a bullish trend and approaching the neutral mark, indicating strengthening bullish momentum. Both the price action and MACD moving in the same upward direction suggest a generally positive market sentiment for Terra Luna Classic. This bullish trend in the MACD could potentially trigger a significant rally if the price breaks above the current resistance levels, strengthening the likelihood of an upward breakout. However, if the price fails to make the expected breakout, it may stabilize at the support level of $0.00009, laying the groundwork for future upward movements.</p> 
<h2 style="text-align: justify" id="strong-why-is-the-price-expected-to-rise-strong"><strong>Why is the Price Expected to Rise?</strong></h2> 
<p style="text-align: justify">Investors’ anticipation of the upcoming Binance token burn is the main factor behind LUNC’s recent strength. Historically, token burns in the <strong>cryptocurrency</strong> market have been bullish catalysts, as they reduce supply and potentially increase the token’s value. The LUNC community is optimistic that the upcoming token burn will positively impact the price.</p> 
<p style="text-align: justify">LUNC’s on-chain token burns continue to increase steadily, with an average of 178 million LUNC tokens burned daily. Currently, the remaining total LUNC supply is approximately 6.8 trillion. The community eagerly awaits the Binance burn, expecting it to significantly reduce the token supply.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/investors-anticipate-lunc-price-increase-due-to-binance-token-burn/" data-wpel-link="internal">Investors Anticipate LUNC Price Increase Due to Binance Token Burn</a></h5>

Investors Anticipate LUNC Price Increase Due to Binance Token Burn

Table of Contents

COINTURK NEWS

Other articles published on May 30, 2024

MoonBag Soars in Top Meme Coin Presale 2024 Race, Leaving Arweave and Solthana in the Dust

OpenAI Apple Deal: AI Makes Way Into iOS & macOS, Optimism Builds Ahead Of WWDC24

Where is Memeinator Listed? Investors Focus on BlockDAG Network as Experts Predict a $30 Price Ta...

A U.S. judge has ordered the US SEC to pay $1.8 million in legal fees to Debt Box

Citadel Securities-backed broker Hidden Roads halts access to Bybit

$WIF: Is the Cat Finally Outperforming the Dogs in Meme Coin Race?

Join our free newsletter for daily crypto updates!