Price Movement:
Luna Classic's recent price move is not due to a token burn.
Order Flow:
Noted a large buy order yesterday, with open interest dropping despite stable prices.
Resistance and Shorts:
Key resistance at 8.5 cents (8,500); many short positions opened post-Saturday drop, some still open, suggesting a potential short squeeze.
Market Expectations:
Bullish momentum expected if it breaks and holds above 8,700, but likely consolidation without significant movement.