Crypto Outlooks
  • Bitcoin
  • Ethereum
  • Altcoins
  • Price Analysis
  • Exchanges
  • NFT
  • DeFi
  • Glossary
No Result
View All Result
Crypto Outlooks
No Result
View All Result
Home Altcoins

Crypto Market Declines, Yet Terra Luna Classic Surges Ahead

Ian Pittman by Ian Pittman
2 years ago
Crypto Market Declines, Yet Terra Luna Classic Surges Ahead
  • Terra Luna Classic (LUNC) saw a 12% increase in a single trading day.
  • LUNC reached the 50-day moving average, indicating a positive trend.
  • Proposal 11785 could expedite the burn rate, affecting LUNC’s price.

Amid a market downturn affecting major cryptocurrencies such as Bitcoin , the lesser-known altcoin Terra Luna Classic has experienced a notable breakout from a downward channel pattern. The cryptocurrency has seen an approximately 12% increase in value (from $0.00005667 to $0.00006372) within a single trading day. This unexpected rise has catapulted LUNC to the top of the list of cryptocurrencies with the highest gains.

LUNC has garnered attention from both cryptocurrency aficionados and investors. However, its recent significant price drop has left many puzzled. This altcoin has been caught in a noticeable downward trend since mid-August, mirroring the overall global cryptocurrency market.

Related

Trump Backs Crypto at Bitcoin Conf; Ethereum Eyes $4454 in 2024

Solana Faces $2.16M Liquidations Amid Crypto Market Volatility

CoinMarketCap data indicates that LUNC is priced at $0.00006216, reflecting a 9.48% increase in the last 24 hours. In the previous week, it has experienced a 7.5% rise.

Significantly, LUNC has already reached the 50-day moving average (MA), indicating a positive trend. The next target is to surpass the 200-day MA, which could suggest an additional bullish momentum. Holding a position above these moving averages would be a positive indicator for Terra Luna Classic.

Terra Classic (LUNC) Price Chart
Terra Classic (LUNC) Price Chart (Source: TradingView)

Should the positive trajectory continue, LUNC could push the price to $0.00008138, $0.00011247, and possibly even peak at $0.00018537. Conversely, if the digital currency cannot maintain its standing above $0.00006, it could be vulnerable to a potential downturn. This could lead to a support level of $0.00005103 and even lower than $0.00003637.

LUNC’s New Proposal

A new proposal, identified as 11785, has been introduced, which, in addition to its technological implications, encourages Binance to conduct a monthly burn of 50% of USTC, presumably a stablecoin. This is in conjunction with the existing 50% LUNC burn. If executed, this proposal could expedite the burn rate and positively affect the price of LUNC.

Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.

Tags: AltcoinBinanceLUNCTerra ClassicTerra Luna Classic
TweetShareShare
Ian Pittman

Ian Pittman

A professional reporter, an inquisitive and innovative individual who poses inquiries that others may shy away from. He is keenly interested in the metaverse, technological advancements, and NFTs.

Read also

Trump Backs Crypto at Bitcoin Conf; Ethereum Eyes $4454 in 2024
Ethereum

Trump Backs Crypto at Bitcoin Conf; Ethereum Eyes $4454 in 2024

by Ian Pittman
11 months ago
Solana Faces $2.16M Liquidations Amid Crypto Market Volatility
Price Analysis

Solana Faces $2.16M Liquidations Amid Crypto Market Volatility

by Gary Flanders
12 months ago
Cardano Node 9.0.0 Launches, Preps for Conway Era and Decentralized Governance
Altcoins

Cardano Node 9.0.0 Launches, Preps for Conway Era and Decentralized Governance

by Gary Flanders
12 months ago
Ethereum ETF Launch Hopes Fuel Market Speculation Amid Volatility
Ethereum

Ethereum ETF Launch Hopes Fuel Market Speculation Amid Volatility

by Ian Pittman
1 year ago
Expert Predicts Altcoin Surge Despite Bitcoin's Slump
Altcoins

Expert Predicts Altcoin Surge Despite Bitcoin’s Slump

by Gary Flanders
1 year ago
Crypto Outlooks

Get insights on market trends, new developments, and expert analysis to help you make informed investment decisions.

Browse by Category

  • Altcoins
  • Bitcoin
  • DeFi
  • Ethereum
  • Exchanges
  • NFT
  • Price Analysis

Get Instant Notifications

Subscribe to our mailing list to receives latest updates direct to your inbox!

*we hate spam as much as you do

  • Glossary
  • Privacy Policy
  • Get in Touch

© 2025 CryptoOutlooks.com

No Result
View All Result
  • Bitcoin
  • Ethereum
  • Altcoins
  • Price Analysis
  • Exchanges
  • NFT
  • DeFi
  • Glossary

© 2025 CryptoOutlooks.com