As Terraform Labs restarts the Shuttle Bridge project, LUNC prices are ushering in a new growth momentum. This move heralds a significant increase in blockchain connectivity and a positive recovery in market sentiment.
The recent LUNC price market has shown a sign of recovery, which is remarkable. Looking back over the past year, the price of Terra Classic has increased by more than 30%. The current market is in a consolidation phase, and price fluctuations contain more challenges.
Terraform Labs announced the restart of the Shuttle Bridge project on August 28, and this news has swept the LUNC market like a spring breeze. The restart of Shuttle Bridge means that LUNC and USTC assets can flow freely between Ethereum mainnet, BNB Chain and Harmony, greatly improving the interoperability between blockchains. This milestone progress has undoubtedly injected new vitality into the Terra ecosystem and laid a solid foundation for the further increase in LUNC prices.
LUNC's technical indicator MACD suggests short-term pressure, but long-term potential remains. From a technical analysis perspective, the MACD indicator has recently crossed below the signal line, sending a signal that it may be under pressure in the short term. This change echoes the recent price correction, reflecting the cautious attitude of market participants. We should not ignore the long-term potential behind LUNC's price.
Data provided by Santiment shows that LUNC’s social media discussion volume has shown a fluctuating trend in the past six months. In particular, the significant surge in late February revealed a dramatic change in retail investor sentiment. Hot discussions on social media can often indicate the direction of market price fluctuations. The current downward trend in social media activity may mean a temporary weakening of market attention, but it may also indicate a stage of accumulation for future explosive growth.
If LUNC can successfully break through the resistance level of $0.00008312, its upward momentum is expected to be further stimulated. At that time, it will be possible to challenge the key resistance level of $0.00008. Once this resistance is effectively broken, the price of LUNC may usher in explosive growth, directly reaching the $0.0003 mark.
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