Terra Luna Classic Crypto Price Prediction 2022 - Will LUNC Reach $0.0005?
Terra Luna Classic (LUNC) has once again gone parabolic today as we see a 42.39% increase in price over the last 24 hours.
September could be a huge month for the Terra Luna Classic (LUNC) community as it is rumored that major exchanges such as Binance and Kucoin may support the token swap burn which is due to go live on the 12th of September. This is a burning mechanism that effectively removes 1.2% in supply of total transaction volume.
Will Terra Luna Classic continue to surge?
Terra Luna Classic is back in the spotlight today as investors anticipate further positive price momentum through the remainder of September.
From a technical analysis perspective Terra Luna Classic (LUNC) crypto looks extremely bullish and has blasted through critical resistance levels over the last few days.
LUNC must respect the $0.000305 support level in order to prevent continuation to the downside.
At the time of writing this article Terra Luna Classic (LUNC) crypto is residing within a classic bull pennant where we could speculate another breakout to the upside.
By measuring the flagpole of this bullish pattern, we can speculate the technical price target would bring us up to roughly $0.000401.
It is quite clear the bulls are in control at the moment with Terra Luna Classic. Should LUNC be able to retest the $0.000354 resistance trendline we may see another breakout to the upside which could yield a total of 12.74%.
This would need to be supported with a large amount of volume and a retest as support in order to validate the move to ensure that it is not a fake out.
Whilst it may be tempting to chase the green candles it is worth noting that Terra Luna Classic (LUNC) is currently overbought on the relative strength index.
We can also see
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