Burn Activity and Market Sentiment
LUNC continues to experience significant burns, as detailed in the latest metrics from the community’s tracking dashboard. Today’s burn rate reached 15.79 million LUNC, which indicates robust daily burn activity.
Over the past week, the cumulative burn totaled 299 million LUNC, averaging approximately 42 million LUNC daily. The 30-day metrics are even more impressive, showing a massive 3 billion LUNC burned, averaging about 105 million LUNC daily. These figures highlight the community’s ongoing efforts to reduce the token’s supply, aiming to increase its scarcity and potential value.
Technical Indicators and Future Outlook
Terra Classic might soon regain its upward trajectory with the current market volatility. If bullish momentum drives the price beyond $0.000092, LUNC price could explore higher resistance at $0.0001. This escalation might even push the digital asset to achieve a value of $0.001.
Conversely, increased market doubts could force a pullback to the $0.000091 support. If the bearish trend persists, prices might drop further to $0.00009. Such a scenario would spell additional hurdles for Terra Classic’s recovery prospects.
The technical indicators for LUNC on the daily chart suggest mixed signals in recent trading sessions. The Moving Average Convergence Divergence (MACD) shows a bearish crossover, with the MACD line (blue) trending below the signal line (orange).
The Chaikin Money Flow (CMF) is above the zero line, which suggests that buying pressure still exists.
Terra Classic Price Prediction|
The Average Directional Index (ADX) reading is at 26, indicating a relatively strong trend. The Relative Strength Index (RSI) stands at 36, hinting that the asset is approaching, but not yet in, the oversold territory.
