CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

Moralis Money
crypto.news 2025-04-24 17:40:45

LUNC price breaks key resistance as 410 billion milestone nears

The Terra Luna Classic token crossed a crucial resistance level ahead of two crucial milestones in its network. Terra Luna Classic ( LUNC ) price rose to a high of $0.00006430, its highest level since March 28. It has jumped by almost 40% from the lowest level this year. The uptrend may continue as the network’s burn rate accelerates. According to LUNC Metrics, the network has burned 205.3 million tokens over the past seven days. Since May 2022, LUNC has burned a total of 408.2 billion tokens, bringing the circulating supply down to 5.45 trillion. If this pace continues, total burns are expected to surpass 410 billion early next month. You might also like: Pepe price set to double as smart money flows surges Additional LUNC tokens are expected to be incinerated next week when Binance executes its monthly token burn. The exchange has emerged as the leading LUNC burner, having destroyed over 72 billion tokens. Binance contributes by burning 50% of its spot and margin trading fees related to LUNC. The actual number of tokens burned each month fluctuates based on trading volume. For example, earlier this month, Binance burned 521.9 million tokens, down from 760 million in the previous month. More LUNC holders are also staking their tokens. Currently, over 1.038 trillion LUNC, roughly 15% of the circulating supply, is staked. This is a notable increase from 13% on the same day last year. LUNC staking ratio | Source: LUNC Metrics LUNC price technical analysis Terra Luna Classic chart | Source: crypto.news The daily chart shows that LUNC has rebounded strongly in recent days. This move followed a drop to a key support level at $0.000057, which had previously acted as support in July, August, February, and March. The token has now moved above a descending trendline connecting the highest swing points since January 20, invalidating a descending triangle pattern that had been forming. Additionally, the LUNC price has crossed above its 50-day moving average. Notably, the Awesome Oscillator and the MACD indicators have both moved above the zero line, continuing to display a bullish divergence pattern. If this momentum holds, the LUNC price could rally to the next key resistance level at $0.0001, representing a 60% gain from the current level. You might also like: Sui price rockets as it flips Arbitrum, Avalanche, Tron on key metric

https://www.digistore24.com/redir/325658/ceobig/
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.