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Terra Luna Classic Price Rises Amid Major LUNC Burn Activity
The post Terra Luna Classic Price Rises Amid Major LUNC Burn Activity appeared on BitcoinEthereumNews.com. Terra Luna Classic burn shrinks supply, signaling potential bullish price movement. LUNC faces key resistance at $0.0000970 whereby breakout could lead to further gains. Technical indicators suggest balanced sentiment, signaling a stable trading outlook. Terra Luna Classic (LUNC) is gaining traction following a significant weekly token burn of 320 million LUNC. This burn, which reduces the token’s overall supply, is seen by traders as a positive sign for price appreciation. As the supply of LUNC shrinks, investors are anticipating increased price pressure, which could fuel an upward trend. This burn event, coupled with growing interest in the Terra Classic ecosystem, has contributed to a surge in LUNC’s price over the past 24 hours, making it a key focus in the cryptocurrency market. Recent Burn Activity Boosts LUNC’s Price Momentum Terra Luna Classic’s price has climbed alongside the increasing burn activity. Over 320 million LUNC tokens were removed from circulation this past week. LUNC.TECH data shows that 15 million LUNC were burned today alone, both through direct burns and tax mechanisms. This increased burn rate has played a key role in the token’s price performance. Reducing the supply often leads to higher demand, which can drive prices up. Terra Classic’s strategic token burn initiative is a central part of its plan to restore value and stability to its ecosystem. Key Support and Resistance Levels to Watch As at press time, LUNC is trading at $0.00009278, reflecting a 1.47% increase in the last 24 hours. The nearest support level is $0.00009138, a point where the price briefly dipped before rebounding. If LUNC drops below this level, the next support could be around $0.000090. On the resistance side, the price recently tested $0.0000970 but failed to break through. Read also: LUNC Investor’s Bullish Bet: Buys Tokens at 3x Premium Source: Coinmarketcap There is…
The post Terra Luna Classic Price Rises Amid Major LUNC Burn Activity appeared on BitcoinEthereumNews.com.
Terra Luna Classic burn shrinks supply, signaling potential bullish price movement. LUNC faces key resistance at $0.0000970 whereby breakout could lead to further gains. Technical indicators suggest balanced sentiment, signaling a stable trading outlook. Terra Luna Classic (LUNC) is gaining traction following a significant weekly token burn of 320 million LUNC. This burn, which reduces the token’s overall supply, is seen by traders as a positive sign for price appreciation. As the supply of LUNC shrinks, investors are anticipating increased price pressure, which could fuel an upward trend. This burn event, coupled with growing interest in the Terra Classic ecosystem, has contributed to a surge in LUNC’s price over the past 24 hours, making it a key focus in the cryptocurrency market. Recent Burn Activity Boosts LUNC’s Price Momentum Terra Luna Classic’s price has climbed alongside the increasing burn activity. Over 320 million LUNC tokens were removed from circulation this past week. LUNC.TECH data shows that 15 million LUNC were burned today alone, both through direct burns and tax mechanisms. This increased burn rate has played a key role in the token’s price performance. Reducing the supply often leads to higher demand, which can drive prices up. Terra Classic’s strategic token burn initiative is a central part of its plan to restore value and stability to its ecosystem. Key Support and Resistance Levels to Watch As at press time, LUNC is trading at $0.00009278, reflecting a 1.47% increase in the last 24 hours. The nearest support level is $0.00009138, a point where the price briefly dipped before rebounding. If LUNC drops below this level, the next support could be around $0.000090. On the resistance side, the price recently tested $0.0000970 but failed to break through. Read also: LUNC Investor’s Bullish Bet: Buys Tokens at 3x Premium Source: Coinmarketcap There is…
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