Happycoin.club - The Terra Classic (LUNC) token is seeing a sharp rise in prices, following a long period of consolidation following the unpegging of TerraUSD (UST) earlier this year.

Source: Javon Marks

Technical analysis indicates a bullish divergence between LUNC's price and its on-balance volume indicator. This indicator measures positive and negative volume flow, providing a clear picture of the direction of trade.

According to the three-day chart above, a potential breakout is expected, with some analysts forecasting prices to rise by over 342% to reach $0.00042986.

LUNC (Terra Classic) is back here with great strength after a bullish divergence from the On Balance Volume indicator, and this could be the start of a much bigger rally! With a breakout target at $0.00042986, prices could rise over 342% to reach and break above that level, and this could be the early stages of that process.

LUNC, like TerraUSD (UST), experienced a price crash following the collapse of the Terra ecosystem. However, a recent lawsuit filed by the US Securities and Exchange Commission against Consensys may provide support for LUNC.

As we know, the SEC has provided much-needed clarity regarding the misclassification of several cryptocurrencies, including LUNC, as securities.

Additionally, the Terra Luna Classic community recently voted on a proposal to create an independent community website similar to Bitcoin.org. This initiative highlights the community's commitment to fostering long-term growth.

Adding to the positive sentiment was a significant community-driven token burn supported by cryptocurrency exchange Binance, which destroyed 62 billion LUNC tokens.