Terra Luna Classic to Hold AMA on X on February 15th

Terra Luna Classic will host an AMA on X on February 15th at 3 pm UTC. The discussion will revolve around various aspects of the cryptocurrency.

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Shiba Inu Price Breaks 2-Month Downtrend, Eyes New Peaks

The Shiba Inu (SHIB) price has emerged from a persistent downtrend that dominated the past two months. A detailed analysis of the daily and weekly (SHIB/USD) charts indicates a series of critical technical factors that are currently influencing SHIB’s price movements.

Shiba Inu Bulls Take Over

On the daily chart, SHIB has broken through the upper boundary of the descending channel pattern that had been in place since the high at $0.00001193 reached in mid-December last year. This channel, characterized by lower highs and lower lows, had been containing the price action, but a recent surge in volume and buying pressure has allowed SHIB to breach this confinement.

The breakout was confirmed by a close above the 200-day Exponential Moving Average (EMA, blue line), which is now acting as a support level. However, with the 20-day, 50-day, and 100-day EMAs converging just above current price levels (between $0.00000912 and $0.00000932), the bulls still have some work to do.

End Of The Consolidation Phase?

On the weekly time frame, a larger trend line, which is providing support derived from an ascending triangle pattern, suggests a longer-term bullish sentiment underlying the recent bearish phase. This support line is critical as it has been respected numerous times in the past, making it a significant level for long-term holders.

A decisive weekly close above the 20-week EMA at $0.00000904 this Sunday could pave the way for significant momentum. Subsequently, attention shifts to the 50-week EMA at $0.00000970, signaling potential further advances.

The volume profile on both time frames has been relatively high during the breakout, providing further confirmation of the move. However, traders should be cautious as high volume can also precede volatility and potential price retracements.

Disclaimer: The article is provided for educational purposes only

VeChain Skyrockets By 77% To Reach New Yearly High, Analyst Bullish On VET Targeting $1.6

In a remarkable display of bullish movement, the smart contract blockchain VeChain,  and its native token VET have emerged as significant players in the altcoin rally, experiencing an impressive surge of 77% since the end of November.

Over the past seven days, VET has recorded a substantial 33.5% increase, with an additional 5.4% surge in the past 24 hours, propelling the token to reach a new yearly high of $0.03806, a level unseen since May 2022.

This surge in VET’s value has generated substantial excitement among crypto analysts, who predict promising days and months for the token, noting a clear bullish momentum across various time frames.

*VET’s Potential Surge To $1.6 Based On Historical Patterns

In addition to Rekt Capital’s analysis, Egrag Crypto, another respected crypto analyst, offers an optimistic outlook for VeChain’s future. 

Egrag Crypto believes that VeChain has the potential to reach an impressive target of $1.6. To support this projection, Egrag Crypto examines VeChain’s previous price movements and identifies patterns that indicate the potential for significant growth. 

By analyzing a similar move ‘A’ from VeChain’s launch point at around $0.90, which resulted in a threefold increase from the previous all-time high, Egrag Crypto suggests that VeChain could replicate a similar move, leading to a surge towards the $1.6 mark or even Fib 1.618.

Egrag Crypto’s analysis aligns with VeChain’s historical performance and reinforces the notion that the token has the potential for substantial growth. 

With VeChain’s previous all-time high standing at $0.27, achieving the projected $1.6 mark would require a relatively modest 6X surge. Egrag Crypto’s analysis suggests that VeChain could easily experience a 50X to 100X climb from its bottom, presenting an enticing opportunity for investors and traders.

#VETUSDT $VET

Up in arms! Terra Luna Classic (LUNC) Token Burn and InQubeta Price Surge

Token Burn By Terra Luna Classic Community

The Terra Luna Classic community is in the middle of the voting process for its 800 million USTC burn proposal. This proposal comes after the previous proposal was rejected due to concerns about the possible legal consequences.

Terra Luna Classic validators, Lunanauts, have expressed their concerns regarding the previous proposal numbered 11913. This new proposal numbered 11927 offers a ‘legal’ solution to burning funds held in Risk Harbor multisig wallets.

The community has been notified that Risk Harbor lost access keys and has agreed to blacklist the wallet, making burning a necessary step.

Binance and InQubeta Price Surge

Binance, one of the largest crypto exchanges, has burned 4 billion LUNC tokens. This step was taken as part of their efforts to help stabilize the value of the digital currency . In response to Binance's token burn, the price of InQubeta (QUBE) tokens saw a 20% spike.

This shows that the crypto market is very responsive to various actions taken by big players in the industry. This price spike could be a positive indicator for investors looking for opportunities in the crypto market.

With the token burns by the Terra Luna Classic and Binance communities, as well as the surge in InQubeta prices, the crypto market is once again showing its unexpected dynamism. For those of you who are interested in jumping into the crypto wave, this could be the right moment to pay attention to market movements.

*Disclaimer
This content aims to enrich reader information. Always do your own research and use cold hard cash before investing. All buying and selling and investing activities in crypto assets are the responsibility of the reader.
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