Terra Luna Classic Price Prediction as LUNC Blasts Up 7.4% – Where is LUNC Heading Now?

cryptonews.com:

The terra luna classic price has risen to $0.00017240 today, with the coin rising by as much as 7.4% in the past 24 hours. The spike has been caused by anticipation surrounding the next Binance burn update, with the exchange set to report today on how much LUNC it has burned since last November.

Despite today's spike, LUNC remains up by only 4% in the last 30 days. However, if Binance's update does reveal the large burn count that many are expecting, LUNC could see further gains in the coming days.

LUNC's indicators suggest that now may be a very good time to buy. Its relative strength index (purple) has jumped from just under 50 to 70 in the past few hours, signalling some very strong buying momentum.

Encouragingly, LUNC's 30-day moving average (red) has begun rising up towards its 200-day average (blue). That it remains below the longer term average could mean that this rally has plenty of time left before it runs out of steam.

If LUNC can break the $0.0000175 resistance level the rally could reach new levels. It did temporarily breach this level this morning, yet it came back down, suggesting that it may still be a little early for a breakout.

But as noted above, Binance is set to update its LUNC burn count today. If it reveals a big total, this could cause another spike to the LUNC price, potentially pushing it through its current resistance level.

Regardless, LUNC has seen a number of positive developments in recent weeks that suggest it's only a matter of time before the coin witnesses some big gains. Most notably, the Terra Luna Classic community last month passed a plan to re-peg LUNC's sister stablecoin, USTC.

As we've noted before, a re-peg would require a large-scale burn of LUNC tokens, which in turn would imply a