🔥🔥 $LUNC Set for 26-40% Gains with Upcoming Binance Token Burn🔥🔥
✅Terra Luna Classic is on the brink of a significant event as Binance prepares for its periodic token burn in two days. Currently, LUNC trades at $0.00011, experiencing a 3.5% drop in the last 24 hours and a 1% decline over the past week.
📈📊 LUNC Price Analysis: 26-40% Upside Potential
✅After rebounding from a market rally in March, LUNC has been forming an ascending triangle pattern since April 15. This pattern, typically bullish, suggests a 63% chance of a price breakout. The 200-day moving average sits just above LUNC's current price, posing some resistance. However, positive news could help LUNC surpass this barrier.
✅If LUNC breaks out upwards from this pattern, it could gain 26%, reaching $0.000151. Conversely, if it doesn't, the price might find support around $0.00009, a level it has tested twice in the past six months. The MACD indicator is also showing an upward trend, indicating strong bullish momentum.
❓Why Is LUNC Price Rising?
✅Investors are accumulating LUNC in anticipation of Binance's token burn. Historically, such burns reduce supply and often lead to price increases. On-chain burns for LUNC have been increasing, with about 178 million tokens burned daily, bringing the total supply down to 6.79 trillion LUNC. The community is optimistic that the Binance burn will significantly reduce the token supply and boost the price.
📢Bottom Line
As LUNC's supply decreases, its value stabilizes, demonstrating the strength of a united community in the crypto world. All eyes are on Terra Luna Classic to see how it performs after the Binance burn event.
📝Please follow for more updates and information. Your follow means to keep doing better. Thank you.
🚨For any financial activity DYOR. This is only for educational purposes.
