The crypto market is seeing a big increase, and Terra Classic (LUNC) is doing well. It went up by 50% in just a month. This is surprising because Terra Classic had some problems before and was at its lowest value in early August. But now, it’s doing better than expected, with its price going up and showing signs of strong growth, which is surprising for everyone watching the market. Why is the LUNC price rising? Let’s take a look at his Terra Classic price analysis.
Terra Classic Price: Why is LUNC Price Up?
This comeback is due to several reasons. One key factor is Binance’s recent decision to change the leverage and margin levels for different crypto perpetual contracts, including the 1000LUNCUSDT. This action has had an impact on how LUNC is doing in the market.
Currently, LUNC is trading at $0.0000841, showing a significant rise of 19.72% in the last 24 hours. This increase is part of a larger pattern, as it has gained 30.96% in the past week and almost 50% over the month, reaching its highest point in 90 days.
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Terra Classic Price: How High will LUNC Price Go?
Going ahead, Terra Classic appears to have good prospects for more growth. The expected big LUNC burn might greatly reduce its availability, which could lead to a rise in its price. Additionally, the Terra Classic blockchain has brought back an important function that was there before its value dropped, which is a key move in its efforts to recover.
Importantly, TradingView’s 1-day technical analysis reflects this optimistic outlook, showing a solid ‘buy’ signal. The Relative Strength Index (RSI) for Terra Classic is in the overbought zone on the LUNCUSD price chart, suggesting that its upward trend is likely to keep going. However, if the RSI drops below this overbought threshold and the LUNCUSD chart shows a significant decrease, it could indicate a potential shift in the current trend.
Additionally, the Moving Average Convergence Divergence (MACD) indicator being in the positive zone, with a value of 0.00000451, shows that Terra Classic’s price is still going up. This pattern implies that buyers are active in the market, and it’s likely that this upward trend will keep going. Also, the increasing trend shown in the MACD histogram supports the idea that this upward momentum will continue.
The recent sharp rise in Terra Classic’s price is mainly because of a surge in buying interest. This increased demand has driven LUNC’s market capitalization to an impressive $489,178,176, with over 472.05% increase in volume.
Terra Classic (LUNC) is displaying encouraging indications of a major price surge. As a 3D breakout pattern is unfolding, investors are looking forward with excitement to a big shift that could lead to exceptional profits.
How to Buy LUNC?
For those looking to buy LUNC, Bitget is an excellent platform to consider. Known for its low transaction fees and user-friendly interface, Bitget facilitates an easy and efficient process for buying and selling LUNC. Given the current positive trend in LUNC price and the optimistic outlook of the cryptocurrency market, now might be a strategic time to consider adding LUNC to your investment portfolio.