Terra Classic (LUNC) is showing signs of a potential price rally driven by strategic token burning. Currently trading at $0.0001227, LUNC has gained 3.59% in the last 24 hours. This bullish move started at $0.0001186, reaching a high of $0.000124 before pulling back slightly to the current price. A significant increase in trading volume of 76.61% to $41.29 million indicates high buying interest and potential for further growth. In the short term, price action indicates bullish sentiment. The immediate support level around $0.000120 has been tested several times, showing significant buying interest and demand. A major support level at $0.0001186, the opening price of the day, provides a solid base after successfully resisting the previous decline. As for resistance, an immediate level at $0.000124 was reached before the price recovered slightly, indicating the presence of a seller . The main resistance levels may appear at the psychological thresholds of $0.000125 and $0.000130. The upward movement combined with the increase in volume confirms the bullish momentum. The recent peak and pullback form a higher high and a higher low, indicating the possibility of further upside.Analysis of the burn rate graph shows a key correlation between token burn and price trends. From the beginning of February to the middle of March, there was a low and steady level of burning, which resulted in a relatively stable price with little fluctuation. The absence of a significant reduction in supply during this period meant that there was no noticeable increase in prices. However, a sharp increase in the burn rate from mid-March to early April indicated that a large volume of LUNC was being burned, which likely caused prices to jump due to increased scarcity. . Another notable increase in the burn rate occurred in early May, which likely pushed the price higher as the market reacted to the increase.
