What’s Next for LUNC Price?
It’s been a tough week for cryptocurrencies, with most people dropping sharply after Donald Trump announced new tariffs on Mexico, China and Canada. But when tariffs in Mexico and Canada temporarily ceased on Monday, they began to recover. Despite this, Lunc’s price has not rebounded as expected, although 1.6 billion Lukes were burned last week. This has caused a 21% drop in loan prices over the past seven days.
Terra Luna Classic Struggle in Market Recovery
Despite the overall market recovery, the price of Terra Luna Classic (LUNC) has fallen 21% over the past seven days. Although there is one Huge burns It was 1.6 billion lukes in just one week. Investors are now wondering whether this momentum will drive Lunc’s price down, which could lead to a 50% drop as bearish pressure continues to grow.
After Binance had a massive token burn, Lunc had a high price for a week. Over the past seven days, 1.68 billion Lons tokens have been destroyed, increasing the number of burned tokens to 402.57 billion.
Token burn occurs when the token burn is permanently deleted from the loop when it is placed in an inaccessible address. This is usually to increase the value of the remaining tokens, similar to how a company buys back shares to increase the price of its stock.
The weekly chart shows that Lunc’s price has been dropping sharply over the past few months. This week, falling to $0.00004,665, marking the lowest value in recent years.
Although the token has been burned, it is not clear how this affects Lunc’s price. In the past, big token burns have led to short-term price increases, but the recent 1.6 billion Lunc Burn failed to bring any major rally in the price list. Instead, it fell to the loan price.
Analysts believe that based on overall market sentiment and trends, such a large burn could increase Lunc’s price by 50%, or further increase.
What’s next for Lunc Price?
Cryptocurrency markets are rising as Donald Trump returns to the White House. However, the recent market crash puts Lunc Price under enormous bearish pressure. Currently, the Terra Luna Classic price is $0.00006124, down 1.9% in the past 24 hours.
The Lunc/USDT trading pair is still below $0.00007, indicating that sellers are under great sales pressure. Since short-term holders (STHs) may choose to sell their positions at this level, this price point may continue to be a significant obstacle.
If the price remains below the EMA20 trendline on the 1-hour chart, the seller can try pushing it to $0.000048.
Since the relative strength index (RSI) is below the midline in 39, the resistance level may be retested. If the price stabilizes above $0.00008, it may transfer the advantage to the buyer, which may push the price to a maximum of $0.000108.
