The price of Terra Luna Classic has increased to $0.00017240 today, climbing as much as 7.4% over the previous 24 hours. The rise was brought on by interest in the upcoming Binance burn update; the exchange is scheduled to disclose today on the amount of LUNC it has burned since last November.
Despite today’s increase, LUNC has only increased by 4% over the past 30 days. But, LUNC might experience more increases in the coming days if Binance’s report does indeed disclose the significant burn count that many are anticipating.
Today’s Lunc Price
Luna Classic’s price today is $0.000146 USD
| DATE | Luna Classic | USD |
|---|---|---|
| Today | 01 |
$ 0.000146
|
Terra Luna Classic Price Prediction
According to LUNC’s indicators, right now might be a great moment to buy. Its relative strength indicator (purple) has increased significantly over the past few hours from slightly below 50 to 70, indicating very strong purchasing momentum.
LUNC’s 30-day moving average (red) has started to move upwards towards its 200-day average, which is encouraging (blue). The fact that it is still below the longer-term average may indicate that there is still plenty of time for this rise to continue until it loses momentum.
The rally might hit new heights if LUNC can overcome the $0.0000175 resistance level. This level was briefly broken this morning, but it quickly returned, indicating that it might still be too early for a breakthrough.
But, as was already mentioned, Binance will update their LUNC burn count today. If the sum is large, the LUNC price could experience another surge and possibly cross its present resistance level.
Yet, LUNC has had a number of encouraging developments in recent weeks that indicate significant increases for the coin are imminent. The Terra Luna Classic community most famously approved a plan to re-peg USTC, the stablecoin that is LUNC’s sister.
As previously said, a re-peg would necessitate a significant burn of LUNC tokens, which would entail a rise in LUNC’s price. The burning of a sizable amount of the coin might considerably boost its price, given that recent rises have been made possible by burning only 39.6 billion LUNC (out of a circulating supply of 5.9 trillion).
The Terra Luna Classic blockchain recently experienced an update last night that brought forth a number of advantageous features. Developers now have easier access to changing code settings, while observers have merely commented that the update demonstrates the cohesiveness and togetherness of the Terra Luna Classic community.
In fact, considering disagreements over the aforementioned re-peg proposal as well as a proposal to stop paying some developers, this update dispels worries that the community may still be too divided to achieve significant progress. The update demonstrates that Terra Luna Classic is progressing overall and towards a similar objective, despite occasional variances.
Because of this, some holders have grown to be highly sure that the LUNC price would significantly increase this year. Other supporters even have $1 in mind, a price increase of more than 500,000% from where it is now.
So, assuming positive news from Binance, a more achievable goal for LUNC at this moment would be somewhere around $0.0002. The coin could achieve this goal in the next weeks. From there, it might consider removing one or two decimal places by year’s end.
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