I bought it at $2.72 about 2 weeks ago and regretted it. Today it hit that price again after waiting a long time. Do you think I should sell it at $2.72 if it hits again or wait for it to hit $3.00?
The price of Terra Classic (LUNC) is up 30% following a recent token burn of over 3.1 billion $LUNC. This surge has caught the attention of investors, as bullish market trends dominated December. Questions now abound about whether more bullish momentum is on the horizon for LUNC.
Here are some additional key facts:
Increased Market Interest: The 30% price increase has sparked renewed interest from retail and institutional investors, with trading volumes spiking significantly in the past 24 hours.
Burn Mechanism Impact: The burn of over 3.1 billion $LUNC tokens directly reduces the circulating supply, increasing scarcity and driving up demand, which could sustain upward price momentum.
Community Involvement: The LUNC community has been actively advocating for token burns and other mechanisms to restore the token's value, strengthening investor confidence.
Technical Indicators: Bullish signals have appeared on LUNC's technical charts, with key resistance levels being breached and the Relative Strength Index (RSI) trending upwards, indicating strong buying pressure.
Broader Crypto Market Recovery: The price surge aligns with a broader recovery in the cryptocurrency market, as Bitcoin and Ethereum also experienced gains, boosting overall investor sentiment.
Developer Updates: Recent updates from the Terra Classic team, including plans to improve the ecosystem's functionality and usability, have bolstered optimism about the project's long-term potential.
Potential Risks: Despite the positive momentum, market analysts caution about the possibility of short-term profit-taking and market corrections, which could temper the rally.
Market Sentiment: Social media platforms and forums are buzzing with discussions around LUNC, showing a strong interest in the token and further fueling its rally.
The market shows strong bullish momentum with increasing volume and positive price action.
Expecting upward movement towards the targets, but it is advisable to keep an eye on resistance levels.
Summary: The PEPE/USDT pair shows bullish momentum with the price above key EMAs and a positive RSI. The immediate targets for the bullish scenario are 0.01, 0.001, and 0.0001.