Terra Luna Classic (LUNC) burn did not help: The decline may deepen.

Terra Luna Classic ($LUNC ) faced a price drop, decreasing open interest and decreasing trading volume despite the last 15 million token burn. LUNC, which is well-known in the Turkish crypto ecosystem, is followed by investors, although not as much as before. So what factors should investors pay attention to during this process? What are the prominent levels for the parity?

Terra Luna Classic (LUNC) is traded at $0.00009008 as of the writing of the news and has experienced a 4.19 percent decrease in the last 24 hours. The popular altcoin's 24-hour trading volume was recorded as $27,294,595.

LUNC increased by 0.37 percent in the last seven days, indicating that some stability has been achieved despite volatile market conditions. The token’s circulating supply is estimated to be around 5.7 trillion, while its total market value is around $513.1 million.

The price change occurred after 15 million LUNC were burned on October 22. This burning was part of a deflationary strategy aimed at increasing the price by reducing the supply. However, the short-term impact on the price was limited and the decline continued.

LUNC’s price chart shows the efforts of buyers trying to push the price up with an ascending trend line. In recent weeks, the price has found support from the trend line by making higher lows.

If the price continues this upward trend, this could be a positive signal for bullish momentum. However, the resistance zone at $0.00012740 needs to be broken for the price to gain upward momentum. A permanent break above this level could provide further price gains with additional buying pressure. In downward movements, the levels of 0.00008850 and 0.00006390 can be followed as support.

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