#ustc USTC/USDT on Binance [1h]💰Price: 0.0358 USDT📊Volume: 8,314,719 USTC🔥 Average Volatility: 2.85%⚪ RSI(14): 44.02⚪ MFI(14): 35.69⚪ CCI(14): -58.82⚪ BBands(20,2): Normal Range📊 ATR: 0.000816 USDT🔴 SMA(50): Price is below SMA🔴 MOM(10): Below 0 - Bearish🔴 MACD: Bearish Crossover Mode❇ ADX Signal: Strong Bullish Trend🔴 Parabolic Sar: Bearish🔴 TD Sequential: 1 Down⚪ RSI Divergence: NoneIn the dynamic world of cryptocurrency trading, discerning the direction of market movement can be as challenging as it is critical. For traders eyeing the #USTC/USDT pair on Binance, the latest hourly data offers a mix of signals that beckon a closer look.Current Market SnapshotAs we stand, USTC is trading at 0.0358 USDT with a substantial volume of 8,314,719 USTC changing hands within the last hour. This volume indicates a healthy level of activity that could be the precursor to a significant price movement.Volatility at a GlanceAn average volatility of 2.85% has been recorded, painting a picture of moderate price fluctuations. This level of volatility suggests that while the market is active, it has not reached an extreme level of activity that typically precedes market-wide shifts.Momentum Indicators SpeakThe Relative Strength Index (RSI) stands at 44.02, veering away from both overbought and oversold territories. This middle-ground positioning suggests that the market is in a state of equilibrium, with no immediate pressure tipping the scales.In tandem, the Money Flow Index (MFI) at 35.69 aligns with the RSI's narrative, indicating no significant inflow or outflow of money at this juncture.Trend and Oscillator InsightsThe Commodity Channel Index (CCI) reading of -58.82 hints that USTC could be undervalued, offering potential room for an upward correction, while the Bollinger Bands (BBands) report a normal range, signaling a lack of extreme market moves.The Average True Range (ATR) stands at a modest 0.000816 USDT, suggesting a period of low price movement—commonly a prelude to a breakout or breakdown.Bearish Signals DominateDespite the calm, several indicators lean towards a bearish outlook. The price is currently below the Simple Moving Average (SMA) for 50 periods, the Momentum (MOM) indicator reads below zero, and the Moving Average Convergence Divergence (MACD) shows a bearish crossover—all traditional indicators of a potential downtrend.Contrasting Bullish ADX SignalYet, in a twist, the Average Directional Index (ADX) signals a strong bullish trend, conflicting with the bearish indicators. This divergence in signals could suggest an upcoming battle between bullish and bearish forces.The Technical ConclusionIn sum, the USTC/USDT pair presents a complex technical landscape. With most indicators pointing towards a bearish trend but countered by a strong bullish signal from the ADX, traders should proceed with caution. It is paramount to consider these signals in the context of broader market conditions and news before placing any trades.The market's narrative for USTC/USDT is still being written, and traders will need to stay vigilant, ready to adapt their strategies as the next chapter unfolds. #lunc $USTC $LUNC

Binance CEO LUNC holdings disclose renewed Terra Luna Classic community sentiment to revive LUNC and USTC to $1.

The world’s largest crypto exchange Binance has successfully completed six years of operations. Binance CEO Changpeng “CZ” Zhao shared the crypto exchange’s key events and challenges in an official statement, in which he also disclosed that Binance invested $3 million in Terra (now Terra Luna Classic) and never moved or sold LUNC holdings. Binance currently supports the Terra Luna Classic community with monthly LUNC burns and committing to the revival roadmap.

“we saw our initial $3M investment back in 2018 turn into $1.6bn at Terra’s 2021 peak, and then down to close to $0 in 2022. Until today, the LUNA (now LUNC) tokens we received still sit on the address we originally received them on, never moved and never sold.”

After the May 2022 Terra-LUNA crisis, the Binance team asked CEO “CZ” whether to sell the tokens, he said “no, let’s just hold.”

Terra Luna Classic Community Reacts to Binance CEO Statement

The community reacted positively to Binance still holding LUNC tokens, committing to the development and revival of the Terra Luna Classic chain. It has renewed the sentiment among members to revive LUNC and USTC to $1, taking inspiration from Binance CEO “CZ.”

Binance burned 2.65 billion LUNC tokens in the 11th batch of its burn mechanism. The crypto exchange has burned 35.58 billion LUNC in total, while the community has burned 69 billion LUNC.

Joint L1 Task Force (L1TF) and Quant developer teams are working with Binance and other exchanges to repeg USTC to $1, with the Quant team in direct discussion with Binance.

The community and developer groups to focus particularly on reducing LUNC and USTC circulating supply in Q3. L1TF has revealed its plan of action for Q3, with expert developers Edward Kim and Superman returning back to the chain.

#LuncBurn #Lunc #ustc

$LUNC $USTC