The Terra Luna Classic price has surged by 30% in the past 24 hours, with its race to $0.00023831 also marking a 104% gain in a week.
This means LUNC is the best-performing top-100 coin within these timeframes, with the altcoin gaining momentum in recent weeks as a result of increasing agreement within the Terra Luna Classic community.
And with this community recently providing more than 90% approval for a new upgrade, LUNC could continue rising in the next few days, particularly if the wider market continues its bullish uptrend.
There’s little doubt that LUNC is very hot coin at the moment, with its indicators all moving into very bullish positions.
Indeed, its RSI (purple) is now touching 90, and while this ordinarily indicates that it has entered ‘overbought territory’, LUNC’s status as an oversold coin for so long should enable it to sustain gains over the coming weeks.
Encouragingly, the coin’s 30-day average (yellow) has only recently climbed over its 200-day (blue), implying that it still has quite a bit of time before it’s likely to correct downwards again.
Possibly the most bullish aspect of LUNC’s chart is its 24-hour trading volume, which after being negligible throughout previous months has not jumped to $1.25 billion.
This all-but guarantees that whales have resumed buying and accumulating the token, with many community members becoming increasingly confident that LUNC will reach new highs over the coming weeks.
$LUNC moving to "Golden cross"
USTC $0.5
Read more on cryptonews.com