After a healthy pullback, #LUNC is gearing up for the next rally. Corrections like these set the stage for stronger, more sustainable growth. Remember, the path to success is never a straight line.
❤23⚡3👍1🔥1
Crypto Market Rally Brings New Gains for Terra Classic
The recent market rally has positively affected investor sentiment in many cryptocurrencies, with major assets such as Bitcoin and Ethereum recording significant gains. At the time of writing, Bitcoin was trading at over $81,000, while Ethereum was trading above $3,000. This has led to the general market rise, which has benefited several other altcoins, including Terra Classic, which has boosted the current price surge of LUNC.
The recent 14% appreciation of Terra Classic in the past month is another indication of steady growth supported by the community’s initiatives to burn tokens and increase demand. Recently, OrbitLabs has proposed a detailed analysis of the recently adopted “Reverse-Charge” tax mechanism in the Terra Classic (LUNC) network.
As outlined in our recent blog post, this proposal is designed to handle possible issues and facilitate smooth execution. Furthermore, OrbitLabs has provided assistance in validating the “fix interchain” feature that was implemented with SDK 0.47 to enhance the interchain operations within the Terra Classic network.
The recent market rally has positively affected investor sentiment in many cryptocurrencies, with major assets such as Bitcoin and Ethereum recording significant gains. At the time of writing, Bitcoin was trading at over $81,000, while Ethereum was trading above $3,000. This has led to the general market rise, which has benefited several other altcoins, including Terra Classic, which has boosted the current price surge of LUNC.
The recent 14% appreciation of Terra Classic in the past month is another indication of steady growth supported by the community’s initiatives to burn tokens and increase demand. Recently, OrbitLabs has proposed a detailed analysis of the recently adopted “Reverse-Charge” tax mechanism in the Terra Classic (LUNC) network.
As outlined in our recent blog post, this proposal is designed to handle possible issues and facilitate smooth execution. Furthermore, OrbitLabs has provided assistance in validating the “fix interchain” feature that was implemented with SDK 0.47 to enhance the interchain operations within the Terra Classic network.
❤6🔥2
Like most cryptos, Terra Classic [LUNC] also pushed the accelerator as its price surged in double digits. Meanwhile, an interesting development happened, which had the potential to push the token’s price further.
Therefore, AMBCrypto checked Terra Classic’s on-chain data to find out what to expect.
Please open Telegram to view this post
VIEW IN TELEGRAM
🔥6👍1
Terra Classic is breaking out
CoinMarketCap’s data revealed that LUNC bulls dominated last week by pushing the token’s price up by more than 18%. The bullish trend continued in the last 24 hours as the token’s value increased by over 6%.
At the time of writing, LUNC was trading at $0.00009981 with a market capitalization of over $544 million, making it the 130th-largest crypto. The positive price action did have an impact on the token’s social metrics.
As per our analysis of Santiment’s data, LUNC’s Social Volume increased, reflecting a rise in its popularity. However, after a sharp rise, Terra Classic’s Weighted Sentiment dropped.
This decline asserted that bearish sentiment around the asset is rising, which could contribute to a price correction.
AMBCrypto also found that LUNC’s burn rate increased dramatically in the last few days. Notably, the token’s burn rate surged on the 6th of November.
Generally, a rise in burn rate is an indicator of a deflationary asset. Whenever the burn rate rises, it decreases the market supply, which potentially affects the asset’s price positively.
CoinMarketCap’s data revealed that LUNC bulls dominated last week by pushing the token’s price up by more than 18%. The bullish trend continued in the last 24 hours as the token’s value increased by over 6%.
At the time of writing, LUNC was trading at $0.00009981 with a market capitalization of over $544 million, making it the 130th-largest crypto. The positive price action did have an impact on the token’s social metrics.
As per our analysis of Santiment’s data, LUNC’s Social Volume increased, reflecting a rise in its popularity. However, after a sharp rise, Terra Classic’s Weighted Sentiment dropped.
This decline asserted that bearish sentiment around the asset is rising, which could contribute to a price correction.
AMBCrypto also found that LUNC’s burn rate increased dramatically in the last few days. Notably, the token’s burn rate surged on the 6th of November.
Generally, a rise in burn rate is an indicator of a deflationary asset. Whenever the burn rate rises, it decreases the market supply, which potentially affects the asset’s price positively.
⚡6👍1🔥1
What to expect from LUNC
We then checked other datasets to better understand what to expect from LUNC as its burn rate increased.
AMBCrypto’s analysis of Santiment’s data revealed that LUNC’s Open Interest dropped sharply after a major rise on the 10th of November.
This meant that the chances of the ongoing price trend changing were high.
However, a few things still remained in the token’s favor. For instance, AMBCrypto’s look at Coinglass data revealed that Terra Classic’s long/short ratio registered an uptick.
So,there were more long positions in the market than short positions, which can be inferred as a bullish signal.
AMBCrypto then took a look at LUNC’s daily chart. We found that the Relative Strength Index (RSI) moved upward, indicating more inflow of money.
Whenever that happens, it suggests a possibility of a continued price rise.
However, Terra Classic’s price went above the upper limit of the Bollinger Bands, meaning that the chances of a price correction can’t be ruled out.
We then checked other datasets to better understand what to expect from LUNC as its burn rate increased.
AMBCrypto’s analysis of Santiment’s data revealed that LUNC’s Open Interest dropped sharply after a major rise on the 10th of November.
This meant that the chances of the ongoing price trend changing were high.
However, a few things still remained in the token’s favor. For instance, AMBCrypto’s look at Coinglass data revealed that Terra Classic’s long/short ratio registered an uptick.
So,there were more long positions in the market than short positions, which can be inferred as a bullish signal.
AMBCrypto then took a look at LUNC’s daily chart. We found that the Relative Strength Index (RSI) moved upward, indicating more inflow of money.
Whenever that happens, it suggests a possibility of a continued price rise.
However, Terra Classic’s price went above the upper limit of the Bollinger Bands, meaning that the chances of a price correction can’t be ruled out.
👍5
Terra Classic (LUNC) price has surged significantly recently, aligning with a broader crypto market rally drawing investors’ attention. As bullish trends dominate November, LUNC’s price momentum has sparked optimism among analysts, with a key target set at the $1 level. The rise is also bolstered by an uptick in LUNC token burns, which reduce supply and potentially support further price growth amid heightened market interest.
Analyst Predicts Terra Classic Price Rally to $1
Crypto analyst shared an X post signaling a potential breakout for LUNC, indicating strong buying momentum. According to the analyst, the cryptocurrency’s community-driven efforts may soon push it toward a significant milestone of $1. Current resistance levels remain challenging, but the recent emergence of buy signals suggests optimism within the LUNC community.
Please open Telegram to view this post
VIEW IN TELEGRAM
👍11🔥5🥱2👌1
LUNC Token Burns Reach New Milestone
In the past hour, a total of 1,000,000 LUNC tokens were burned, recorded across a single transaction. The burn activity today has reached substantial numbers, highlighting ongoing efforts to reduce token supply.
Today’s total includes 1,072,874.68 tokens burned through transactions and an additional 18,308,685.22 tokens via taxes. The overall daily burn tally has now climbed to 19,381,559.90 tokens.
Is LUNC Price Poised for Continued Growth?
Terra Classic has seen notable growth, with its price climbing by 14% over the past month, indicating a clear bullish trend. The positive momentum comes amid a broader surge in the crypto market as major digital assets demonstrate upward price movement.
Bitcoin is trading above $76,000, while Ethereum (ETH) hovers around the $3,000 mark, reflecting a strong market sentiment. This widespread rally has positively impacted numerous altcoins, with Terra Classic benefiting from this optimistic atmosphere. As of today, LUNC price is trading at $0.0000935, with a 3% increase in the past 24 hours.
Terra Classic’s price surge and community-driven token burns signal potential growth. Favorable market conditions further strengthen this outlook. Challenges persist, yet the $1 target remains achievable with sustained momentum. Investor support will be crucial in reaching this milestone.
In the past hour, a total of 1,000,000 LUNC tokens were burned, recorded across a single transaction. The burn activity today has reached substantial numbers, highlighting ongoing efforts to reduce token supply.
Today’s total includes 1,072,874.68 tokens burned through transactions and an additional 18,308,685.22 tokens via taxes. The overall daily burn tally has now climbed to 19,381,559.90 tokens.
Is LUNC Price Poised for Continued Growth?
Terra Classic has seen notable growth, with its price climbing by 14% over the past month, indicating a clear bullish trend. The positive momentum comes amid a broader surge in the crypto market as major digital assets demonstrate upward price movement.
Bitcoin is trading above $76,000, while Ethereum (ETH) hovers around the $3,000 mark, reflecting a strong market sentiment. This widespread rally has positively impacted numerous altcoins, with Terra Classic benefiting from this optimistic atmosphere. As of today, LUNC price is trading at $0.0000935, with a 3% increase in the past 24 hours.
Terra Classic’s price surge and community-driven token burns signal potential growth. Favorable market conditions further strengthen this outlook. Challenges persist, yet the $1 target remains achievable with sustained momentum. Investor support will be crucial in reaching this milestone.
👍12👎2
Terra Luna Classic has gained investors’ attention lately, especially with the soaring volume of the token. According to reports, the weekly volume of Terra Classic soared past the 2.27 trillion mark on Binance last week, sparking optimism over LUNC price’s potential rally to $0.0005 next. So, let’s take a quick look at the recent report details and see how it could significantly boost the token’s price.
Please open Telegram to view this post
VIEW IN TELEGRAM
👍6🔥4👎2
Terra Luna Classic Volume Soars Amid Upcoming Burn Optimism
The Terra Luna Classic Foundation recently revealed that LUNC’s trading volume hit a remarkable 2.27 trillion tokens on Binance last week. In an X post, they announced that 50% of the trading fees generated would go toward buying back and burning LUNC.
This announcement has fueled investors’ optimism over a potential price rally ahead, as reduced token supply often positively impacts prices. Adding to the excitement, Binance is set to conduct its next burn event in 12 days, the post added. Historically, similar burns have bolstered the LUNC price, and this event is no exception to heightened market expectations.
Meanwhile, in parallel, the Terra Classic community has made strides in governance. A proposal to transfer CoinMarketCap dashboard access to Allnodes, a leading validator, was recently approved. This move aims to enhance transparency and streamline operations, further boosting investors’ confidence.
The Terra Luna Classic Foundation recently revealed that LUNC’s trading volume hit a remarkable 2.27 trillion tokens on Binance last week. In an X post, they announced that 50% of the trading fees generated would go toward buying back and burning LUNC.
This announcement has fueled investors’ optimism over a potential price rally ahead, as reduced token supply often positively impacts prices. Adding to the excitement, Binance is set to conduct its next burn event in 12 days, the post added. Historically, similar burns have bolstered the LUNC price, and this event is no exception to heightened market expectations.
Meanwhile, in parallel, the Terra Classic community has made strides in governance. A proposal to transfer CoinMarketCap dashboard access to Allnodes, a leading validator, was recently approved. This move aims to enhance transparency and streamline operations, further boosting investors’ confidence.
👍3❤2🔥2
LUNC Price To Hit $0.0005?
The Terra Luna Classic community’s proactive efforts, including token burns and governance updates, have strengthened optimism for a price surge. Besides, the upcoming Binance burn is poised to remove a significant chunk of tokens from circulation, which might also boost the asset’s value higher in the coming days.
However, LUNC price today was down more than 1.5% to $0.0001088, while its trading volume dropped by 65% to $68 million. Over the last 24 hours, the token has touched a high of $0.0001119, while noting a weekly gains of 10%.
Terra Classic Futures Open Interest decreased by 11% to $9.33 million, CoinGlass data showed, indicating investors are taking a pause ahead of the highly anticipated Binance burn. However, a recent LUNC price analysis hints at a potential 480% rally for the crypto, which might send its price to $0.000593.
The Terra Luna Classic community’s proactive efforts, including token burns and governance updates, have strengthened optimism for a price surge. Besides, the upcoming Binance burn is poised to remove a significant chunk of tokens from circulation, which might also boost the asset’s value higher in the coming days.
However, LUNC price today was down more than 1.5% to $0.0001088, while its trading volume dropped by 65% to $68 million. Over the last 24 hours, the token has touched a high of $0.0001119, while noting a weekly gains of 10%.
Terra Classic Futures Open Interest decreased by 11% to $9.33 million, CoinGlass data showed, indicating investors are taking a pause ahead of the highly anticipated Binance burn. However, a recent LUNC price analysis hints at a potential 480% rally for the crypto, which might send its price to $0.000593.
👍2
Terra Luna Classic price has remained under pressure in the past few days, as it retreated by 10.95% from its highest level this week. LUNC, the remnant of the collapsed Terra network, was trading at the psychologically important support level at $0.00010. One analyst believes that the token could stage a strong comeback and surge by at least 480% soon.
Please open Telegram to view this post
VIEW IN TELEGRAM
🔥5
Crypto Analyst Delivers A Bullish Terra Luna Classic Price Forecast
Terra Luna Classic has lagged behind some popular cryptocurrencies like Bitcoin and Solana which have more than doubled this year. It remains in a deep bear market after falling by over 60% from its highest level this year as demand weakened.
Nonetheless, Javon Marks, a popular crypto analyst with a good track record of crypto forecasts, believes that LUNC price has more room to run. He believes that it could jump to $0.000593, approximately 480% higher than the current level.
His case is based on Terra Luna Classic’s past performance and its falling wedge patterns. Over time, the coin has formed three major wedges, which all result in a major bullish breakout. If this one happens, he expects that the coin could retest $0.000593, a few points below its all-time high of $0.000064.
A falling wedge is a chart pattern characterized by two falling converging trendlines. In most cases, a bullish breakout happens when the two lines are nearing their convergence.
LUNC price has two potential catalysts that could push it higher. First, data shows that the Terra Luna Classic burn rate is increasing. Over 389 billion LUNC tokens have been burned since its inception. The big jump shown below happened when Terraform Labs closed the Shuttle Bridge as part of its bankruptcy settlement. Second, it will do well if the bullish breakout in the crypto industry continues.
Terra Luna Classic has lagged behind some popular cryptocurrencies like Bitcoin and Solana which have more than doubled this year. It remains in a deep bear market after falling by over 60% from its highest level this year as demand weakened.
Nonetheless, Javon Marks, a popular crypto analyst with a good track record of crypto forecasts, believes that LUNC price has more room to run. He believes that it could jump to $0.000593, approximately 480% higher than the current level.
His case is based on Terra Luna Classic’s past performance and its falling wedge patterns. Over time, the coin has formed three major wedges, which all result in a major bullish breakout. If this one happens, he expects that the coin could retest $0.000593, a few points below its all-time high of $0.000064.
A falling wedge is a chart pattern characterized by two falling converging trendlines. In most cases, a bullish breakout happens when the two lines are nearing their convergence.
LUNC price has two potential catalysts that could push it higher. First, data shows that the Terra Luna Classic burn rate is increasing. Over 389 billion LUNC tokens have been burned since its inception. The big jump shown below happened when Terraform Labs closed the Shuttle Bridge as part of its bankruptcy settlement. Second, it will do well if the bullish breakout in the crypto industry continues.
🔥6⚡2👍2❤1
LUNC Technicals Point To More Gains
Terra Luna Classic’s technicals are supportive of a strong bullish breakout. On the daily chart, it has formed an ascending regression channel and is being supported by the 50-day and 100-day moving averages.
The coin’s Market Value to Realized Value (MVRV) Z-score has moved to about 2.7 and is near its highest level since April. While this could be a sign that it is overvalued, it still has more room to hit $4.6, its highest level this year.
More upside will be confirmed if the LUNC price rises above the upper side of the ascending channel at $0.00010. If this happens, it will point to more gains to $0.00013, its highest level on May 30, and 33% higher than the current level.
The invalidation point of the bullish view is at $0.000085, the lower level of the channel. A drop below that point could signal a drop to $0.000053.
Terra Luna Classic’s technicals are supportive of a strong bullish breakout. On the daily chart, it has formed an ascending regression channel and is being supported by the 50-day and 100-day moving averages.
The coin’s Market Value to Realized Value (MVRV) Z-score has moved to about 2.7 and is near its highest level since April. While this could be a sign that it is overvalued, it still has more room to hit $4.6, its highest level this year.
More upside will be confirmed if the LUNC price rises above the upper side of the ascending channel at $0.00010. If this happens, it will point to more gains to $0.00013, its highest level on May 30, and 33% higher than the current level.
The invalidation point of the bullish view is at $0.000085, the lower level of the channel. A drop below that point could signal a drop to $0.000053.
👍4💩4👎2🔥1🤣1
Terra Luna Classic’s Binance Volume Explodes: LUNC Set for $0.0005 Surge?
After Binance burned 1 billion LUNC tokens, as discussed in a recent CNF update, it could potentially drive the next phase for Terra Luna Classic. Once again, Terra Luna Classic (LUNC) has captured investors’ attention as its trading volume on Binance surged to a staggering 2.27 trillion tokens last week.
The Terra Classic Foundation announced that half of the trading fees generated from this activity would be used to buy back and burn LUNC, heightening expectations of a price rally.
With Binance’s next burn event set for 12 days from now, market watchers anticipate a potential price boost as the token supply diminishes.
After Binance burned 1 billion LUNC tokens, as discussed in a recent CNF update, it could potentially drive the next phase for Terra Luna Classic. Once again, Terra Luna Classic (LUNC) has captured investors’ attention as its trading volume on Binance surged to a staggering 2.27 trillion tokens last week.
The Terra Classic Foundation announced that half of the trading fees generated from this activity would be used to buy back and burn LUNC, heightening expectations of a price rally.
With Binance’s next burn event set for 12 days from now, market watchers anticipate a potential price boost as the token supply diminishes.
1❤4🔥2👏1
LUNC Setting for $0.0005 Surge
Analysts predict that Terra Luna Classic (LUNC) could witness a remarkable 480% rally, potentially driving its price to $0.000593, thanks to the upcoming Binance burn and strong community efforts. Despite a slight daily dip of 0.15%, LUNC has shown resilience with a 5.24% gain over the past week, reaching $0.0001112.
Nevertheless, with weekly gains of 10% highlight growing investor optimism, even as trading volume fell by 65%. The anticipated burn event, coupled with proactive community initiatives, is expected to reduce token supply, paving the way for a potential price surge and heightened market confidence in the coming days.
Analysts predict that Terra Luna Classic (LUNC) could witness a remarkable 480% rally, potentially driving its price to $0.000593, thanks to the upcoming Binance burn and strong community efforts. Despite a slight daily dip of 0.15%, LUNC has shown resilience with a 5.24% gain over the past week, reaching $0.0001112.
Nevertheless, with weekly gains of 10% highlight growing investor optimism, even as trading volume fell by 65%. The anticipated burn event, coupled with proactive community initiatives, is expected to reduce token supply, paving the way for a potential price surge and heightened market confidence in the coming days.
🔥8
Terra Classic price has surged significantly, aligning with November’s broader crypto market rally. This bullish trend has sparked optimism among investors, with the potential for a 170% rally. The surge is further supported by a rising number of LUNC token burns, which could strengthen price momentum as market interest intensifies and traders eye long-term growth opportunities.
Please open Telegram to view this post
VIEW IN TELEGRAM
👍7💩4⚡1