• Terra Luna Classic (LUNC) price has risen 7.4% in the past 24 hours, driven by anticipation of a Binance burn update.
• LUNC is up 4% in the last 30 days and could see further gains if the burn count is high.
• A Signal proposal to re-peg USTC and LUNC was recently passed by the LUNC community, which would require a large-scale burn of LUNC tokens.
Terra Luna Classic Price Prediction
The Terra Luna Classic (LUNC) price has risen by as much as 7.4% in the past 24 hours, with traders anticipating an upcoming Binance burn update. If it reveals a high burn count, this could drive further increases for the coin over the coming days. In addition, a recent Signal Proposal to re-peg USTC and LUNC was passed by the community, which could lead to another surge of buying activity if it goes into effect.
Current Price Trends
Currently, LUNC remains up only 4% in the last 30 days but indicators suggest that now may be a good time to buy as its relative strength index (RSI) has jumped from 50 to 70 in recent hours signaling strong buying momentum. The coin’s 30-day moving average is also beginning to rise towards its 200-day average which could indicate that this rally still has some legs left before running out of steam.
Breaking Resistance Levels
If LUNC can break above $0.0000175 resistance level it could reach new highs as it briefly did earlier today before retreating down below again suggesting that now may not yet be the time for a breakout but one may soon be on its way depending on today’s Binance update results and future developments within the project itself such as re-pegging USTC and LUNC through their Signal Proposal plan passed last month.
Binance Burn Update
Binance is set to report later today on how many tokens they have burned since November 2020 so investors should keep an eye out for #LunarBurn updates on Twitter as well as other social media channels to get more information about what will happen next with these coins when they hit exchanges soon after their burns are complete.
Conclusion
In conclusion, there are several positive developments surrounding Terra Luna Classic (LUNC) right now indicating that big gains could be ahead for this cryptocurrency if current trends continue or develop further with today’s Binance burn report or tomorrow’s Signal Proposal plan going into effect leading many analysts believe that now might be an optimal time for investors looking at getting into this asset class while prices remain low before another potential surge happens soon afterwards due to these events taking place within such short succession of each other making them highly lucrative investment opportunities for those who act fast enough!