The $LUNC token from $LUNA has experienced a notable decline over the past month, falling over 26%. According to #CoinMarketCap , #LUNC peaked for the month at $0.0001253 before falling sharply to a low of $0.00007334.

After this fall, the token stabilized, maintaining its position above the support level of $0.000080. The daily chart indicates a slight recovery for LUNC with a modest gain of 1.67%.

At the time of publication, LUNC was trading at $0.00008396. Additionally, the token's intraday market capitalization rose to $460,930,474, placing it in 128th place in the market rankings.

This positive turn comes ahead of a significant LUNC burn planned by crypto exchange Binance next week, which has injected some optimism into market sentiment. Despite this, the token's 24-hour trading volume decreased by 14.83% to $20,613,785, indicating decreased interest among investors.

Meanwhile, the #USTC token showed a contrasting move, rising 1.51% to $0.01829 despite a notable 31% decline in trading volumes over the past day. During this period, its price fluctuated between $0.01803 and $0.01842.

LUNC Community Focus on Combustion Mechanism

Community #TERRA Luna Classic is looking forward to the Binance LUNC burning mechanism, which is expected to play a decisive role in reducing the overall supply of LUNC. The latest data shows that the total LUNC supply has dropped to 6.79 trillion after significant trading and burning volumes.

At the same time, the enthusiasm for staking with Terra Luna Classic validators is palpable. Over 1 trillion LUNCs were staked, pushing the staking ratio to 14.83%.

In addition to the positive dynamics, the public pool reserve has increased markedly. It currently holds 6.22 billion LUNC and 12.37 million USTC, providing ample resources for future development projects.

Key LUNC Levels to Pay Attention to

On the 4-hour chart, the LUNC/USD pair showed a rebound from the support level near $0.000071462, which was observed on Monday. Now the token is gradually approaching $0.00008411, which serves as an intraday resistance level.

This move follows a significant downward parallel channel that has seen the LUNC token move from its May high of $0.00013, representing a decline of 45.50%. As anticipation builds, burn events scheduled for the coming month could provide a significant boost to trading volume, potentially catalyzing LUNC's upward trajectory.

If market forces converge, a breakout of the $0.000090 threshold could unlock further gains, pushing the token towards $0.000094. This upward surge could even set the stage for a retest of the $0.00011 level, hinting at a promising horizon for LUNC's value.

However, the road ahead is full of uncertainty. Resistance at $0.00008411 looms large and if it holds, LUNC could retreat to the June low at $0.0000714 in search of a base of support.#luna