bullish

Terra Classic

Momentum

Resistance

Luna Classic (LUNC) continues to attract investors’ attention due to the recent price increase, burnings, and ecosystem growth. LUNC is currently trading at&nbsp; $0.00012503, which is up by 3.21% in the past 24 hours 
Market analysts note that price movements indicate LUNC has been moving up since mid-November. That is primarily due to community-driven activities and technical signals. 
<h2 class="wp-block-heading" id="h-lunc-price-bullish-momentum-backed-by-technical-signals">LUNC Price Bullish Momentum Backed by Technical Signals</h2> 
<a href="https://www.thecoinrepublic.com/2024/11/23/lunc-price-targets-major-upside-after-breaking-key-resistance-level/">LUNC price trend</a> chart suggests that there is an upward movement with higher highs and higher lows, signaling bullish pressure. 
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 <img loading="lazy" decoding="async" width="1024" height="420" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-33-1024x420.png" alt="" class="wp-image-861137" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-33-1024x420.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-33-300x123.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-33-768x315.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-33-1536x630.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-33-150x62.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-33-696x285.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-33-1068x438.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-33.png 1600w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
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 1-day LUNC trading chart|source TradingView
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Other technical features such as the bullish formation known as a Golden Cross whereby the 13-day has crossed a 49-day moving average indicating a more bullish move. 
Price remaining above the 13-day moving average adds to investor sentiment toward the continuing rally. 
The Relative Strength Index (RSI) is set at 64.33, close to the overbought level that ranges from 70. This indicates buying pressure and the probability of a pullback in the near term if the indicator enters the territory of overbought levels. 
Levels of support are found at $0.00010266 and $0.00008106, while levels of resistance are found at $0.00012665. If prices break above resistance levels, the price is expected to move upwards. However, if the price momentum slows down, there may be sideways movement. 
<h2 class="wp-block-heading" id="h-long-term-predictions-and-community-revival-efforts">Long-Term Predictions and Community Revival Efforts</h2> 
Supporters believe LUNC could achieve medium-term price targets between $0.0005 and $0.001 by 2025-2026. 
These projections are based on sustained community-driven initiatives, increased adoption, and Terra Classic’s potential revival through decentralized applications (dApps) and partnerships. 
However, these optimistic forecasts hinge on the team’s ability to grow the ecosystem and maintain investor interest in the project. 
Looking further ahead, some long-term predictions for 2030 suggest LUNC could approach or exceed $1, driven by adoption and market-wide bullish conditions. 
This would require significant growth in utility as well as increased integration into the decentralized finance (DeFi) space. Market sentiment also plays a critical role, with predictions indicating that a strong Bitcoin-led bull market could amplify LUNC’s recovery efforts and price growth. 
<h2 class="wp-block-heading" id="h-key-market-developments-driving-lunc-price-s-growth">Key Market Developments Driving LUNC Price’s Growth</h2> 
LUNC also provides token burn, where it has so far burnt 390.76 billion tokens out of a total supply of 6.5 trillion. This ongoing approach is an attempt to decrease supply and put pressure on deflation, which may work in a positive way to improve the token price. 
With strong community backing, these burn initiatives are expected to continue driving positive sentiment around LUNC. 
Binance recently announced updated leverage and margin tiers for LUNA2USDT, offering up to 75x leverage for smaller positions. 
This move is seen as a vote of confidence for the Terra ecosystem and has attracted speculative traders looking to capitalize on LUNC’s price volatility. By increasing leverage, Binance has provided an additional catalyst for trading activity, potentially boosting liquidity in the market. 
The market trends of the LUNC also depend on the global cryptocurrency trends, especially Bitcoin price movement Experts also highlight that LUNC gains more during the bull runs since its price is confined to a low price range and attracts lots of speculative investors. 
However, regulatory developments and legal outcomes for Terra-related entities could also influence the token’s future performance. 
<h2 class="wp-block-heading" id="h-challenges-and-risks-for-lunc-investors">Challenges and Risks for LUNC Investors</h2> 
Nonetheless, LUNC has several risks that affect its growth despite its recent performance: Despite the burning attempts, the token still has an immense supply, which poses challenges for investors with a long-term perspective. 
Regulatory uncertainty is another factor that could affect LUNC’s trajectory. As global authorities scrutinize the cryptocurrency market, tokens like LUNC that stem from high-profile collapses like Terra may face additional challenges. 
Investors must also consider market volatility and external factors, such as macroeconomic conditions, that could influence LUNC’s price movement. 
Community efforts and ecosystem developments are critical to LUNC’s success. Reviving the Terra Classic network through innovative projects, partnerships, and increased adoption will determine whether the token can meet its medium- and long-term price targets. 
For now, the token’s bullish technical signals and ongoing burn initiatives provide optimism for investors eyeing potential short-term gains. 
The post <a href="https://www.thecoinrepublic.com/2024/12/01/lunc-price-shows-bullish-momentum-amid-key-resistance-at-0-00012665/">LUNC Price Shows Bullish Momentum Amid Key Resistance at 0.00012665</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

LUNC Price Shows Bullish Momentum Amid Key Resistance at 0.00012665

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