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Terra LUNA Classic price already tanked over 30% for March.

LUNC is not in a good spot as stablecoins are being questioned as the fallout of SVB starts to fade.

Expect to see an uptick short term, while the downtrend is still very much at play in the longer term.

Terra LUNA Classic (LUNC) price is starting to open up some room for more bullish moves after the bears showed their hand again at the beginning of March. With an overall performance of -30% for the month of March, it is quite clear that bears are still very much present and active in the price action. Meanwhile, room is opening up for bulls as they are offered some narrow room for a 15% rally.

Terra LUNA Classic (LUNC) price sees the hand of bulls this Thursday morning after a firm downtrend these past few days as March is often a negative month in the markets. With over a 30% loss, salvaging the month will be near impossible, but that does not mean that bulls cannot bank some profits in the meantime.

LUNC sees bulls slowly but surely grinding higher as bears are letting go of their stance for the moment. This means some room to the upside with the ideal candidate at the topside near $0.000014000 at the monthly S1 support level. Between now and that level, a 15% gain could be booked, and bulls can trade it with a trailing stop-loss to keep their positions safe.

The bigger risk to the downside hangs with the Relative Strength Index (RSI), which is below 50 and could see bears not taking any profit until that “oversold” label has been reached. That would mean that LUNC needs to tank another 14% toward $0.000011000 before activating that. Support could come in and offer a window of entry for bulls there, depending on the events in the market at that moment.

#luna #terra #lunc #BullRun #koinmilyoner

Cremation Coin, Terra Gaming, LUNC DAO, and Luna Station each contributed to this week’s Terra classic burns.

The Terra Classic (LUNC) community has not neglected the ongoing burn initiative despite a reduction in its social engagements, as several projects and validators have collectively incinerated nearly 33 million LUNC so far this week.

As of press time, the total burns for the week currently stand at 32,929,066, with four entities accounting for 99.6% of these burns. These include projects such as Cremation Coin and Terra Gaming and validators LUNC DAO and Luna Station.

Cremation Coin

The Cremation Coin burn was the largest and the most recent of this week’s transactions. The project incinerated 18.3 million Terra Classic tokens today at 02:12 (UTC). Its burn accounts for 55.6% of the total burns for this week at the time of reporting.

Despite the magnitude of Cremation Coin’s latest burn, it is still the project’s lowest single burn for March, as its past three burns involved 77 million tokens on March 21, 106 million LUNC on March 14, and 51 million tokens on March 7. This brings its total burns for this month to 252.3 million LUNC.

Terra Gaming

Terra Gaming, the LUNC-based online bookie launched last November, has silently incinerated hundreds of thousands of LUNC tokens daily for the past 7 days, on-chain data reveals. This week alone, the project has incinerated 1.99 million LUNC tokens in two transactions.

Upon its launch, the betting platform promised to incinerate LUNC with a portion of its betting volume, and it has kept to that pledge since then. In the past 7 days, Terra Gaming has carried out 7 burn transactions, each amounting to at least 990K LUNC tokens. As a result, its cumulative burn in the past 7 days currently stands at 6.9 million Terra Classic.

Luna Station & LUNC DAO

Validators Luna Station and LUNC DAO also made their respective marks in this week’s burns. LUNC DAO incinerated 1.6 million LUNC tokens as part of its weekly commitment to the Terra Classic burn campaign. The validator continues championing the initiative, one of the first entities to jump on it.

Luna Station conducted its burn transaction on Monday at 12:29 (UTC). The transaction involved 10.8 million tokens, making the validator the second-largest burner for this week so far.

Following the latest burns, total cumulative burns now amount to 50.8 billion LUNC. The community recently crossed the 50 billion burn threshold, as previously reported. At this point, they are looking to soar above the 51 billion mark.

#lunc #luna #terra #crypto2023 #Binance