Portal

Terra

Gains

LUNC Price Analysis: Genuine Labs, a Terra Luna Classic development team, just upgraded the chain v3.0.1 on June 2, 2024. The upgrade was anticipated by the community as <a href="https://coingape.com/price/terra-luna-classic/">LUNC price</a> surged on May 30 and began retracing in a classic buy-the-rumor-sell-the-news pattern. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Hello <a href="https://twitter.com/hashtag/LUNC?src=hash&amp;ref_src=twsrc%5Etfw">#LUNC</a> community! We're thrilled to announce that we've successfully upgraded to v3.0.1. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 Let's keep building! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4aa.png" alt="💪" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4aa.png" alt="💪" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4aa.png" alt="💪" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/NEXTvEvPX6">pic.twitter.com/NEXTvEvPX6</a> 
 — Genuine Labs (@Genuine__Labs) <a href="https://twitter.com/Genuine__Labs/status/1797348811989520733?ref_src=twsrc%5Etfw">June 2, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The price of LUNC hovered around $0.00012 during European business hours on Wednesday, a 2.2% increase in 24 hours and 0.6% in 7 days, <a rel="nofollow" href="https://www.coingecko.com/en/coins/terra-luna-classic">CoinGecko</a> data shows. 
<h2 id="span-style-font-weight-400-lunc-price-analysis-will-bulls-cash-in-the-upgrade-hypes-and-extend-gains-span">LUNC Price Analysis: Will Bulls Cash In the Upgrade Hypes and Extend Gains?</h2> 
<img decoding="async" class="aligncenter size-full wp-image-200613" src="https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-05-at-10.13.13.jpeg" alt="Lunc price" width="1280" height="565" srcset="https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-05-at-10.13.13.jpeg 1280w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-05-at-10.13.13-300x132.jpeg 300w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-05-at-10.13.13-1224x540.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-05-at-10.13.13-768x339.jpeg 768w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-05-at-10.13.13-150x66.jpeg 150w" sizes="(max-width: 1280px) 100vw, 1280px"> 
Terra Luna Classic price is trending above the 50-day and 200-day simple moving averages (SMA), which is bullish for the asset. The bulls have been in an accumulation zone for the past 48 days, forming an ascending triangle. 
On May 30, 2024, LUNC price broke upward and soon retested the upper boundary of the ascending triangle. The price of LUNC may now be preparing to bounce off this resistance-turned-support.&nbsp; 
If the Terra Luna Classic price rallies higher, it may hit $0.0001760, a 50% increase from the current price. The journey upwards may encounter resistance around $0.000136, and $0.000154. In an inverse scenario, the LUNC price may find support around $0.000105 and $0.00009 
<h2 id="span-style-font-weight-400-terra-luna-price-future-outlook-span">Terra Luna Price Future Outlook</h2> 
The price of LUNC is dependent on the future direction of the blockchain, which is largely driven by the community. As investors watch the markets, the Do Kwon and Terraform Labs lawsuit could shift the entire game for the Terra Luna Classic price. 
In a Twitter post On May 28, Chris Amani, CEO of Terra Money, said there was a lot of uncertainty following the end of the trial.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 There’s been a lot of uncertainty since the end of the trial. Like always with these things I’ve had to stay quiet while I work out the details. I’m hopeful that I’ll be able to share what I’ve been working on by early next week at the latest. 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f315.png" alt="🌕" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 — Chris Amani | Terra (@fleece_cannon) <a href="https://twitter.com/fleece_cannon/status/1795475302845444524?ref_src=twsrc%5Etfw">May 28, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
He also noted that he would make a statement at the beginning of this week at the latest. The entire LUNC community is eager to find out what Amani has to say and is convinced it may impact the LUNC ecosystem. 
In the meantime, as the Terra Luna price prepares to take off, the price of LUNA, the descendant of LUNC, took a nasty dump early on June 4, 2024, after a whale transferred a huge amount of LUNA tokens to the <a href="https://coingape.com/new-upcoming-binance-listing/">Binance</a> exchange. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 A hard needle came in <a href="https://twitter.com/hashtag/LUNA?src=hash&amp;ref_src=twsrc%5Etfw">#LUNA</a>. The reason for the sharp decline is LUNAs entering the Binance exchange minutes ago. 
 Who do you think sold these <a href="https://twitter.com/search?q=%24LUNA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LUNA</a> coins?<a href="https://twitter.com/hashtag/LUNC?src=hash&amp;ref_src=twsrc%5Etfw">#LUNC</a> <a href="https://twitter.com/hashtag/USTC?src=hash&amp;ref_src=twsrc%5Etfw">#USTC</a> <a href="https://t.co/L6PZi2j3yO">pic.twitter.com/L6PZi2j3yO</a> 
 — Crypto News Portal (@TerraNewsEN) <a href="https://twitter.com/TerraNewsEN/status/1798021378765140471?ref_src=twsrc%5Etfw">June 4, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h2 id="span-style-font-weight-400-bottom-line-span">Bottom Line</h2> 
As the community awaits the statement, LUNC price continues to wiggle upwards, enticing more investors to buy in. The development of the LUNC network, now taken up by Genuine Labs, has increased its pace.&nbsp; A signal that the future of Terra Luna Classic may be bright. 
The post <a href="https://coingape.com/markets/terra-luna-classic-analysis-lunc-price-breaks-out-of-a-key-market-structure-as-bulls-eye-50-gains/">Terra Classic Price Analysis: LUNC Bulls Eye 50% Gains, A Good Time To Buy?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Terra Classic Price Analysis: LUNC Bulls Eye 50% Gains, A Good Time To Buy?

Table of Contents

Coingape News Media

Other articles published on Jun 5, 2024

Bitcoin tapping $72K could be the fuse for a new all-time high, says analyst

Crypto Market Highlights 2024: Key Market Trends, Updates & Hacks

Bitcoin ETFs worldwide in focus as BTC price passes $71K

Bitcoin ETFs Surge: Second-Highest Inflows Ever Signal Renewed Investor Confidence

Crypto Investor Earns Millions on SHIB

SEC Chair Gensler Hints at Slower S-1 Approval for Ethereum ETFs

Join our free newsletter for daily crypto updates!