Here’s Why Terra Classic (LUNC) Price Jumped 60% This Week
Terra Classic (LUNC) price surged 60% this week due to massive token burns and growing speculation, with Binance's monthly burn and network upgrade proposal contributing to the rally. The price is expected to face resistance at $0.000080 and $0.0000900, with support at $0.000070.
Terra Classic (LUNC) price jumped 60% this week, with a 12% gain in the last 24 hours, trading around $0.0000750. The surge is attributed to massive token burns, with nearly 630 million LUNC tokens burned in the past three days, reducing available supply. Binance's monthly burn on May 1 and the Terra Classic v4.0.1 network upgrade proposal, currently under voting until May 6, have also contributed to the rally. The Relative Strength Index (RSI) is around 70, indicating a strong but potentially overbought market. The next resistance levels are expected at $0.000080 and $0.0000900, with support at $0.000070. The development of the network, including a potential shift to community-led governance, continues to support the price movement.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.