Terra Luna Classic (LUNC) Price Analysis: Will the Token Rebound?
The price of Terra Luna Classic (LUNC) has been on a downward trend, experiencing lower lows and lower highs. However, there is growing investor interest in the token, with futures traders actively taking positions. The Santiment data also shows a rise in social volume and dominance, indicating increasing interest in LUNC.
The Terra Luna Classic ecosystem has adopted a token-burning mechanism similar to Shiba Inu (SHIB), which aims to increase the value of the token by reducing its circulating supply. Binance, the largest exchange, is among the participants in the token burning. This has sparked investor hype, as there are talks of Binance relisting LUNC.
LUNC token holders and stakers are hopeful for a surge in the token’s price, especially if centralized exchanges (CEXes) and decentralized exchanges (DEXes) decide to relist it. The ongoing burn mechanism through transaction fees could also contribute to the price increase.
Terra Luna Classic Price Prediction
At the moment, one LUNC is valued at $0.00005847, with a 2.3% drop in the last day. The trading volume has also declined by almost 50% in the previous 24 hours. The price is currently consolidating within a descending parallel channel, which suggests a continued downtrend if it remains within the upper and lower boundaries.
However, the midline of the channel provides support at $0.00005224. If the price sustains above this level, there is potential for a 25% rise to the $0.00007315 level. The presence of bulls in the market, indicated by the Awesome Oscillator (AO) histogram bars, increases the likelihood of a move north. However, the Relative Strength Index (RSI) suggests fading momentum, leaving the price vulnerable to a slump.
There is a possibility that LUNC could drop to the all-time low (ATL) of $0.00005234 before a potential pullback.
Considering an Alternative: Bitcoin BSC (BTCBSC)
Bitcoin BSC (BTCBSC) is an alternative to LUNC that has gained attention from analysts. It is the native crypto for the ecosystem and aims to provide an opportunity for investors to buy the token at affordable prices, similar to Bitcoin’s low-value entry in 2011.
BTCBSC is currently in the presale stage, with over $1.024 million raised in early-stage sales. The token offers a staking feature, allowing users to make passive income. It is built on Ethereum’s BNB Smart Chain, providing speed, affordability, and reliability.
To buy BTCBSC, you can conduct a token swap using the BNB in your MetaMask or Trust Wallet. Just make sure you have a small BNB balance for the gas fee in your wallet.
Hot Take: Will LUNC Rebound or Should You Consider BTCBSC Instead?
The price of Terra Luna Classic (LUNC) has been on a steady downtrend, but there is growing investor interest due to the token burning mechanism and talks of relisting on Binance. However, the current price consolidation within a descending parallel channel indicates a continued downtrend. The support level at $0.00005224 could provide a potential bounce, but a drop to the all-time low of $0.00005234 is also possible.
Considering an alternative, Bitcoin BSC (BTCBSC) offers an opportunity to buy the token at affordable prices and provides a staking feature for passive income. It has gained attention from analysts and is currently in the presale stage.
Ultimately, the decision to invest in either LUNC or BTCBSC depends on your risk tolerance and analysis of the market conditions.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
