Terra Luna Classic (LUNC) has emerged as the top-performing coin of the day, experiencing a bullish trend with a nearly 4% increase in the past 24 hours and an impressive 8% surge over the last seven days. The recent disclosure of LUNC holdings by Binance CEO, Changpeng “CZ” Zhao, has further fueled the renewed sentiment surrounding Terra Luna Classic, adding to the growing optimism within the community. With its current price at $0.00008925, investors are now contemplating the potential for LUNC to reach $1. But is it the right time to buy? Let’s delve deeper into Terra Luna Classic’s price prediction and market dynamics.
Binance CEO Changpeng “CZ” Zhao recently revealed that Binance had invested $3 million in Terra (now Terra Luna Classic) and has held its LUNC holdings without selling or moving them. This disclosure has reinvigorated the Terra Luna Classic community, reigniting their optimism and determination to revive LUNC and USTC to a value of $1. The positive reaction to Binance’s commitment to developing and reviving the Terra Luna Classic chain has prompted joint efforts between the L1 Task Force (L1TF) and Quant developer teams, including discussions with Binance, to repeg USTC to $1. With a focus on reducing LUNC and USTC circulating supply in Q3, the community and developer groups are working towards the common goal of achieving the $1 milestone. Exciting developments lie ahead as expert developers Edward Kim and Superman return to the chain under the guidance of L1TF’s plan of action for Q3.
Currently, Terra Classic (LUNC) is priced at $0.000091, with a trading volume of $1.1 million within the past 24 hours. Over this period, Terra Classic has witnessed a positive surge of nearly 6%. With a market cap of $5.2 million, it currently holds the #78 position on CoinMarketCap. The circulating supply of LUNC coins amounts to 5,815,156,705,889.
Analyzing the technical indicators of Terra Luna Classic (LUNC), we observe its trading activity around the 0.00087 level, unable to surpass the resistance at 0.00009344. The price movement is currently forming neutral candles, suggesting a consolidation phase within a trading range of 0.000085 as the lower boundary and 0.00009344 as the upper boundary. If the price manages to overcome the resistance level at $0.00009018, it can surge toward $0.00009332 or even $0.00009612. However, in the event of a bearish breakout below $0.00008506, we may witness a decline in the LUNC price toward the next support level at $0.00008206. Considering these technical patterns and price levels, the LUNC token demonstrates the potential for stability and future value appreciation.
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