Luna Classic Consolidation Price Chart

Terra Luna Classic is still in the process of consolidating following a euphoric price rally over the last few days. There is still a chance that the bulls can strike back once again and propel the price up towards $0.00029.

As more LUNC tokens are being burnt the appeal for new investors also rises.

Will the price of Terra Luna Classic pump? Terra Luna Classic can be purchased on eToro.

Cryptoassets are a highly volatile unregulated investment product.

Terra Luna Classic Price Prediction

LUNC continues to tease upside potential as it consolidates within a symmetrical triangle pattern. Today, Terra Luna Classic is trading at $0.000277 and is still up by 54.76% from the swing low of $0.000179 on the 25th of September.

As the price of Terra Luna Classic hovers closely between resistance and support, a significant move could be on the horizon. In a bullish case, LUNC might retest the $0.00029 resistance level, while in a bearish case, LUNC could fall to $0.000257, which has already been tested as a support level twice.

Terra Luna Classic Symmetrical Triangle

LUNC/BUSD – 1 Hour Time Frame.

Typically, a breakout occurs within a symmetrical triangle before the resistance and support levels converge. If the bulls can gather enough positive price momentum and break through $0.000279 we might see a 3.79% pump towards the following resistance level.

On the other hand, the bears could fiercely pull the price back down to $0.00025 if a support level of $0.000274 is lost for LUNC.

The daily relative strength index is back to 50.14 which is quite neutral, Terra Luna Classic is not overbought or oversold. During the first week of September the RSI for LUNC had been extremely overbought. This could mean current price levels merely present an opportunity for further accumulation and consolidation.

It is worth noting that despite the recent pump for LUNC, a lower high has still been printed on the price charts which is quite bearish.

Terra Luna Classic macro price chart

LUNC/BUSD – 4 Hour Time Frame.

I speculate that LUNC will spend time surfing between the resistance levels of $0.00032 and $0.000179 as we continue to prospect deeper into the crypto winter.

Once the sentiment flips bullish in the blockchain markets we could see Terra Luna Classic rally up to $0.00085 towards the end of 2022 which is the 1.681 Fibonacci extension target. This would result in a 206% increase from current price levels, whilst this seems unachievable, LUNC has already pumped 1,335% from June 2022.

A recent Tweet from @ClassyCrypto also displays that the LUNC community are trying to get the attention of Coinbase, there are now over 30,000 unique Tweets associated with LUNC trending with a hashtag #Coinbase.

This is a powerful social engagement push trying to persuade the powers at Coinbase to list LUNC – this would most likely cause the price of LUNC to rocket.

Terra Luna Classic Continues to Burn Supply

According to Coinmarketcap Terra Luna Classic has slipped away to position #32 amongst other cryptocurrencies, this still reflects a very strong recovery for LUNC.

As the LUNC supply continues to burn and thus reduce, the floor price is rising, this helps keep the price of LUNC afloat during bearish trends in the market.

Astonishingly, in the last 30 days 6,523 million LUNC tokens have been burnt. Although, it seems as if the linear progression and the rate that LUNC has been burning at is starting to diminish.

LUNC Burn Chart

Source: Terrarity.io

Whilst this indicator is not incredibly bearish, it could suggest that we are seeing a decrease in the total amount of LUNC volume being traded across centralized and decentralized exchanges supporting the 1.2% supply burn mechanism.

The total amount of LUNC tokens that have been burnt now accrues to an impressive 6,684,519,161 tokens. This reflects a total of 0.09683% of the total supply.

Terra Luna Classic Video Analysis

If you are a long term believer of the Terra Luna Classic ecosystem current price levels could prove to be lucrative when dollar cost averaging in for a long-term investment. Though I would not advise applying a heavy weighting of your working capital as the crypto markets still remain volatile and risky.

As LUNC is now described as a community-based token, it could suggest that there might not be any exciting protocol upgrades or major developments in the future.

Ultimately, LUNC must achieve a much greater level of token burning at a more rapid rate in order to get the price rising quickly.

Tamadoge Outshines Terra Luna Classic?

Recently an immersive deflationary meme coin known as Tamadoge has landed on the OKX CEX/DEX and rallied up to $0.038, shortly after pulling back down towards $0.016, Tamadoge is now consolidating at a healthy $0.022.

Investors who got into the Tamadoge presale at an average unit cost of $0.02/TAMA token would still be up around 10% in profit at current trading levels. BETA sale investors would still be up in profit significantly at current price levels.

Tamadoge’s next launch on the LBank centralized exchange which could be another major price catalyst and send the price back above a key resistance level of $0.03.

You can also claim $10 worth of free TAMA tokens by simply signing up to the OKX centralized exchange and simply trade any value of TAMA tokens on the OKX CEX.

In my opinion, whilst LUNC has displayed great milestones and a massive recovery, the upside potential could now be limited as LUNC has already increased by over 1,250% in price.

Coinmarketcap states that Tamadoge has a market capital of $22.5 million, this would officially make Tamadoge the 8th best meme coin by market capital.

Analyzing competitor meme coins such as Vita Inu or Samoyed, Tamadoge could quite easily target the $100 million market capital over the next few weeks or months which would potentially offer a 5x from current price levels.

Make sure to secure your TAMA tokens before the LBank listing on the OKX exchange.

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