Terra Luna Classic (LUNC) has risen 5% today on strong technical indicators and market sentiment. The recent burn event of the LUNC token is what led to the surge in that price.
LUNC Price Chart Analysis
LUNC/USDT is up with a price increase of 5% trading at $0.00009066 in the last 24 hours.
The price has recently propelled beyond the 20-day Simple Moving Average SMA at $0.0000900, suggesting a possible move toward the bullish zone.
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This level acts as support, suggesting that there may be higher demand to buy LUNC which could help maintain Terra Luna Classic’s rally.
Nonetheless, LUNC still could face some resistance at $0.00009641, at the upper Bollinger Band for LUNC. A breakthrough of this level may confirm more bullish strength in LUNC as well as a continuation of a bullish trend.
Bollinger Bands Show High Volatility in Terra Luna Classic Price
The price of Terra Luna Classic is currently close to the upper Bollinger Band, suggesting higher volatility and possibly resistance.
The Bollinger Band which helps to measure the price volatility indicates that LUNC is approaching the $0.00009641 price mark, the upper boundary that could serve as a possible short-term top.
However, if LUNC fails to clear this area, it could find stabilizing support at its 20-day SMA near the middle Bollinger Band at $0.00009000.
In the case of a pullback, the lower Bollinger Band of $0.00008360 serves as a stronger support level, as this denotes the lowest region LUNC moved within in recent times.
Relative Strength Index (RSI) Indicates Mild Upward Momentum
LUNC’s Relative Strength Index (RSI) is 52.91, which shows that there is moderate bullish momentum without the RSI being overbought.
An RSI above 50 is generally sustained by positive momentum, and an above 70 reading indicates overbought conditions.
RSI remains below the overbought zone suggesting that LUNC could still move higher before the heating reversal signal.
A recent RSI surge from previous lows suggests an increase in momentum and bullishness. If the RSI crosses above 60, it would further fortify the bullish outlook, but traders must keep their eyes on consolidation or a pullback if the price approaches resistance at the upper Bollinger Band.
Strong Bullish Sentiment and Comparisons with Major Assets
LuncBurnDaily highlighted Terra Luna Classic’s recent price increase and its resilience compared to other major altcoins.
LUNC max supply is 6,518,845,949,987 and has seen a recent decrease of -0.0004%, as per LuncBurnDaily. BTC is up 16.78%, and ETH is down 1.45% over the same period, but LUNC’s recent rally has outshined both.
In contrast, other assets on the Terra network are declining, like Luna and USTC for -13.53% and -11.45%, respectively. This outperformance by LUNC suggests it is gaining preference within the Terra ecosystem, driven by community enthusiasm and renewed interest.
Future Price Targets for Terra Luna Classic and Community Expectations
Social media is buzzing with the LUNC community remaining optimistic about the coin’s future and setting some very bold price targets. By 2025-2026, LUNC is expected to hit $1 to $5 and $10 to $30 by 2026-2027.
These long-term expectations are largely speculative but reflect strong community support and confidence in Terra Luna Classic’s potential.
