Terra Classic (LUNC) draws attention with its rise in the last 24 hours, despite the general stagnation in the cryptocurrency market. Significant increases were observed in LUNC's market value and trading volume. While the effects of the Luna events in 2022 continue, the current situation of LUNC makes investors happy.
Increase in Terra Classic (LUNC) Price
LUNC has gained 30% in the last seven days, attracting investors' attention. According to CoinMarketCap data, LUNC has gained more than 3% in the last 24 hours. At the time of writing, LUNC's market value was $485 million and its price was $0.00008923. Transaction volume increased by 137.5% to $88.39 million. Such increases are generally associated with investors' buying sentiment. LUNC's social metrics also support this situation; The increase in the social volume of cryptocurrency shows that its popularity is rising. However, the weighted sentiment remaining in the negative zone makes investors nervous and indicates that a downward trend prevails in the market.
The Future of LUNC Price
The daily chart of LUNC shows that the price is testing an important resistance level. Exceeding this level is critical for the continuation of the rise. LUNC's liquidation heat map reveals that major liquidations occurred when the price reached the $0.000086 level. This may be a sign of a possible price correction and consolidation process.
The increase in LUNC's price may present short-term profit opportunities.
The positive trend in social metrics indicates increased investor interest.
Negative sentiment requires caution and risk management.
It is important for the price to overcome the critical resistance for the long-term rise.
Terra (LUNA), another part of the Terra ecosystem, also recorded an increase of 2.3% in the last 24 hours. While the price of LUNA was 0.4439 dollars, its market value reached 354 million dollars. These developments show that the Terra ecosystem generally follows a positive trend.
