🚀 Terra Luna Classic: LUNC Breaks Out; Bulls Eye 50% Profit After the Binance token burn and 3.0.1 update, the LUNC price broke through a key market structure and bullish investors looked for a potential 50% profit. Genuine Labs, the development team of Terra Luna Classic, updated the chain to 3.0.1 June 2, 2024. The community was expecting this update and LUNC price skyrocketed on May 30 following the classic "buy the rumor, sell the news" phrase. ” pattern. As of Wednesday European trading hours, the price of LUNC was around $0.00012, up 2.2% over the past 24 hours and up 0.6% over the past week.
🔸 Terra Luna Classic's Rising Momentum and Potential Price Targets Terra Luna Classic (LUNC) price is currently trending above the 50-day and 200-day simple moving averages (SMA), indicating a bullish trend for the asset. Over the past 48 days, bulls have been in an accumulation zone forming an ascending triangle. On May 30, 2024, LUNC price broke higher and soon retested the upper boundary of the ascending triangle. The price may now be preparing to bounce off this resistance-turned-support level. If LUNC moves higher, it could reach $0.0001760, a 50% upside from the current price. However, a trip to the upside may face resistance around $0.000136 and $0.000154. In a bearish scenario, LUNC price may find support around $0.000105 and $0.00009. 🔸 Future of LUNC Depends on Community Development and Legislation The price of Terra Luna Classic (LUNC) largely depends on the future direction of the community-driven blockchain. Investors are watching the markets closely because the lawsuit involving Do Kwon and Terraform Labs could have a significant impact on the price of LUNC.” There was a lot of uncertainty after the lawsuit ended. As always with these things, I had to keep quiet while I worked out the details. I hope to be able to share what I've been working on early next week at the latest."
