LUNC Price Soars 7.4%: Is Now the Time to Buy?3. März 2023
• Terra Luna Classic (LUNC) has seen a surge in price of 7.4% in the past 24 hours.
• The recent spike was caused by anticipation surrounding the next Binance burn update, with the exchange set to report on how much LUNC it has burned since November.
• If Binance’s update reveals a large burn count, LUNC could see further gains as its indicators suggest now is a good time to buy.
Terra Luna Classic Price Prediction
The Terra Luna Classic price has risen to $0.00017240 today, with the coin rising by as much as 7.4% in the past 24 hours. The spike has been caused by anticipation surrounding the next Binance burn update, with the exchange set to report today on how much LUNC it has burned since last November.
Where Is LUNC Heading Now?
Despite today’s spike, LUNC remains up by only 4% in the last 30 days. However, if Binance’s update does reveal the large burn count that many are expecting, LUNC could see further gains in the coming days. Its relative strength index (purple) has jumped from just under 50 to 70 in the past few hours, signalling some very strong buying momentum and its 30-day moving average (red) has begun rising up towards its 200-day average (blue). That it remains below the longer term average could mean that this rally has plenty of time left before it runs out of steam.If LUNC can break through $0.0000175 resistance level then a breakout is likely and this could cause further gains for LUNC prices..
Binance Burn Updates
Keep an eye out for #Binance $LUNC Burn updates Community waiting for big #LUNC burn 🚀🚀 https://t.co/AqEU3nbzgT— Terra Luna army 🦈™ (@terra_army) March 2, 2023 But as noted above, Binance is set to update its LUNC burn count today which if reveals a big total then this could cause another spike and push it through its current resistance level .
Re-Peg With UST
Encouragingly ,the Terra Luna Classic community last month passed a plan to re-peg LUNC’s sister stablecoin ,UST . This implies large scale burn of tokens which will result into jump of price value .