bullish

Source

2024

<p>Luna Classic (LUNC) is&nbsp;<a href="https://www.thecoinrepublic.com/price-prediction/terra-luna/">trading at $0.00009228</a>&nbsp;with a slightly bullish trend of 0.22% in the last 24 hours. The price is getting close to a critical resistance area at 0.00010000, which has seen previous upward movements reverse.</p> 
<p>Now traders and analysts are closely monitoring&nbsp;<a href="https://www.thecoinrepublic.com/2024/03/11/terra-classic-lunc-price-shows-tendency-to-rise-from-key-level/">LUNC indicators</a>&nbsp;for possible signals of a breakout.</p> 
<h2 class="wp-block-heading" id="h-lunc-technical-indicators-show-potential-for-uptrend"><strong>LUNC Technical Indicators Show Potential for Uptrend</strong></h2> 
<p>The Relative Strength Index (RSI) of LUNC is 55.09, which is slightly above the&nbsp; neutral 50 level. Nevertheless, this position implies a rising buying pressure which may affirm a bullish trend.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="599" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-31-2-1024x599.png" alt="1-day LUNC trading chart| Source TradingView" class="wp-image-801329" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-31-2-1024x599.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-31-2-300x176.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-31-2-768x450.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-31-2-150x88.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-31-2-696x407.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-31-2-1068x625.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-31-2.png 1341w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  1-day LUNC trading chart| Source TradingView
 </figcaption>
</figure> 
<p>If the RSI trends up towards 60-70, it will be further evidence of intensified bullish momentum for LUNC.</p> 
<p>The MACD also gives positive signals with the MACD line slightly positioned just above the signal line. However, with the MACD indicator currently oscillating near the neutral level, a sustained crossover will be required to confirm an upward trend.</p> 
<p>Several market experts highlight that the 0.00008000 level is crucial for LUNC. If the support holds, it could break out upwards with the next resistance close to 0.00010000. A breakout above this level would signal a bullish continuation.</p> 
<h2 class="wp-block-heading" id="h-analyst-projects-major-breakout-from-ascending-triangle-pattern"><strong>Analyst Projects Major Breakout from Ascending Triangle Pattern</strong></h2> 
<p>Analyst JavonTM1 points to an ascending triangle in the LUNC chart and states that it may result in a strong bullish movement.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="568" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-32-1-1024x568.png" alt="Source: X" class="wp-image-801324" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-32-1-1024x568.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-32-1-300x166.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-32-1-768x426.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-32-1-1536x852.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-32-1-150x83.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-32-1-696x386.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-32-1-1068x592.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-32-1.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  Source: X
 </figcaption>
</figure> 
<p>“A breakout can be nearing and it may start another massive uphill climb for LUNC,” JavonTM1 said, explaining the pattern as the key to a bullish move.</p> 
<p>An ascending triangle is usually a continuation pattern where higher lows are formed against a horizontal resistance level. If the price of LUNC goes outside this particular triangle pattern, then it is expected to move up high, probably even going past $0.00010000.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24LUNC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LUNC</a> (Terra Classic) holding in this type of Ascending Triangle Pattern and moment by moment, inching towards a breakout which can initiate an incomparably powerful bullish wave… <a href="https://t.co/0geNCrO8a8">https://t.co/0geNCrO8a8</a></p>— JAVON
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;">MARKS (@JavonTM1) <a href="https://twitter.com/JavonTM1/status/1850275389530321342?ref_src=twsrc%5Etfw">October 26, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-community-divided-on-effectiveness-of-upcoming-burn-event"><strong>Community Divided on Effectiveness of Upcoming Burn Event</strong></h2> 
<p>On social media platform X, members of the LUNC community are discussing the potential effect of an upcoming burn event scheduled for October 31.</p> 
<p>This burn could certainly reduce the circulation supply by 250 billion tokens out of LUNC’s total supply which currently stands at about 6 trillion tokens.</p> 
<p>Some members of the community insist that such a burn amount, which constitutes less than 4% of the total supply, cannot have any effect on the price of the token.</p> 
<p>“With 6 trillion in circulation, burning 250 billion is almost negligible,” one user stated. Another wrote, “For LUNC to reach $1, the market cap would need to be $7.5 trillion, which seems unrealistic.”</p> 
<p>The sentiment indicates that members are becoming increasingly skeptical of the possibility of future price increases driven solely by token burning.</p> 
<p>While some remain hopeful that regular burns will eventually reduce supply pressure, others believe that without substantial utility growth, the token’s value may remain limited.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/10/30/lunc-eyes-breakout-as-analysts-predict-bullish-potential-post-burn/">LUNC Eyes Breakout as Analysts Predict Bullish Potential Post-Burn</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

LUNC Eyes Breakout as Analysts Predict Bullish Potential Post-Burn

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