The recent upheaval and shakiness in the crypto markets has resulted in Terra Luna Classic losing a critical support level of $0.0003. At the time of writing this article, LUNC is trading at $0.000289 but could be hinting at a breakout.
If LUNC can recover back to $0.0003 it could be likely that the negative price action over the last 24 hours was merely a shake out and the Terra Luna Classic bulls could reclaim control once again. You can purchase LUNC on eToro.
Cryptoassets are a highly volatile unregulated investment product.
Terra Luna Classic (LUNC) Price Analysis
Just yesterday the crypto markets turned upside down and Bitcoin plummeted down to the low $19,000 region. This dragged many major altcoins in the blockchain market down, Terra Luna Classic being one of them.
LUNC had been surfing along the support trendline of an ascending channel for the last 2 days and 19 hours. Typically this is quite normal as the more times a support range is tested the more likely it is to be lost.
Terra Luna Classic saw negative price action and dropped from $0.000302 down to $0.000263 where many investors scooped up the dip. The price for LUNC dropped by 13.61% in a very small 12 hour window.
LUNC/BUSD – 1 Hour Time Frame.
Accumulation escalated around the $0.00026 price levels and the price of LUNC bounced back up to $0.000291 with force. Currently, Terra Luna Classic is forging a symmetrical triangle on the price charts where this is a good chance of a breakout to the upside.
If LUNC can gain enough bullish momentum we might see a retest of the $0.000316 resistance trendline, this would most likely make the recent price action look like a fakeout where yet again retail investors get shaken out of their positions.
Upon failure to breakout, there is still every chance Terra Luna Classic might see negative price continuation back down to the next key support level of $0.000241.
With the uncertainty the crypto markets bring, the short-term analysis and price prediction for LUNC can become dubious speculation. It is going to take a significant amount of bullish momentum and accumulation to see LUNC retest the $0.00059 price levels.
I think for Q2 2023 onwards, we could start to see LUNC creep up to the $0.00075 levels and perhaps even look at removing a zero, of course this depends on the sentiment of the entire blockchain markets.
LUNC Continues to Burn
Since Binance integrated the 1.2% burning/tax mechanics the rate of which LUNC tokens have been burning has increased rapidly.
According to Terrarity, the total amount of burnt LUNC tokens has now reached a staggering 18,319,515,874 which makes 0.265% of the total supply.
Source: Terrarity.io
The Terra Luna Classic community are now trying their best to get Coinbase to list LUNC, although the chances are very very slim, anything could happen.
If this did happen and Coinbase deployed the same burning mechanics we would yet again see another surge in the amount of LUNC tokens being burnt in the ecosystem.
Terra Luna Classic Video Analysis
Coinmarketcap states that LUNC has a market capital of $1.77 billion following the recent pull back in the crypto markets. Unfortunately, this has resulted in LUNC pulling back to rank #32 amongst other cryptocurrencies.
A $1.77 billion market capital is still a significant milestone for a crypto bear market and reflects tremendous recovery. By 2025 we could see a market capital for Terra Luna Classic beyond $5 billion.
IMPT Token to Surpass LUNC?
Terra Luna Classic has performed incredibly from June 2022, though the upside potential from current price levels could be questionable as LUNC already did beyond a 1,500% increase in price from the summer lows.
If you’re a lucrative and keen investor who is looking to diversify your portfolio and potentially hunt the next 10-100x then a suitable choice for you could be IMPT Token.
After analyzing Tamadoge and witnessing price action of over 1,900% following its presale, perhaps it is becoming clear that presales can prove to be incredibly rewarding.
Infact, IMPT Token is now in its second week of its first presale phase (1 IMPT Token = $0.018) and they have already raised a staggering $3,314,363. There is a good chance we could see similar growth potential to Tamadoge here.
Investing in the IMPT Token means that you also align your vision with their carbon offsetting program. IMPT mission is to help reduce the rate of global warming and reduce the surface temperature of the earth.
Already, we can see that the growth from IMPT might make it one of the best crypto presales today.
If you are keen to learn more about the IMPT Token, be sure to check out the whitepaper by clicking here.
Related news:
- 13 Best Cryptocurrency to Invest in October 2022
- How to Buy IMPT Token
- Greenest Cryptocurrencies to Invest in 2022
IMPT - New Eco Friendly Crypto
- Carbon Offsetting Crypto & NFT Project
- Industry Partnerships, Public Team
- Listed on LBank, Uniswap
- Upcoming Listings - Bitmart Dec 28, Gate.io Jan 1st