AVAX buyback raises hopes for LUNC: Will a $60M burn trigger a massive rally?
The cryptocurrency market is in full swing as LUNC (Terra Luna Classic) is trending higher, currently priced at $0.0000886 despite the broader market decline. Investors are closely following the AVAX buyback, speculating that if $60 million is invested in burning LUNC, the circulating supply could drop by 12%, causing prices to skyrocket above $0.0001 and triggering massive FOMO.
🔍 Technical breakdown
Key Support: $0.000084
Resistance to watch: A break above $0.00015 could trigger a 53% rally, which would push prices significantly higher.
📉 Downside risk
If the support at $0.000084 fails, LUNC could retrace to $0.000073 or even as low as $0.000054.
⚡ Market anticipation
The next few weeks are critical for LUNC’s price action. Investors are closely watching the momentum it is gaining and many are hoping that the AVAX buyback could be the spark that triggers a massive rally.
Will the buyback boost LUNC price or could downside risks prevail? Either way, the market is watching closely!
