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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Terra Luna Classic Price Near-Term Advance – Will LUNC Climb 25%?

Christian Encila
Christian Encila
1 year ago
3 mins read

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Created by industry experts and meticulously reviewed
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Strict editorial policy that focuses on accuracy, relevance, and impartiality

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Terra Luna Classic (LUNC) has embarked on a six-month journey marked by a consistent downtrend, largely influenced by the gravitational pull of a so-called descending channel pattern. This pattern, characterized by successive lower highs and lows, mirrors an active market sentiment favoring sales during attempts at bullish rebounds.

Mid-August proved to be a pivotal juncture for LUNC as aggressive selling surged, triggering a precipitous plunge from $0.0000658 to $0.0000523. This swift and significant 34% drop led to a critical retest of the support trendline intrinsic to the falling channel pattern. 

Interestingly, the coin’s value exhibited resilience through multiple instances of dynamic rebounds, translating to intermittent bullish bounces in its ongoing recovery phase.

Terra Luna Classic Chart Hints Signs Of Resurgence

Delving into the price analysis, the daily chart unfolded a compelling narrative with a long-tailed rejection manifesting at the lower boundary of the channel pattern, commencing on August 17. This occurrence effectively signaled an undercurrent of demand pressure. Capitalizing on this support, the price rebounded vigorously, propelling it upwards by 22%, currently resting at $0.0000638.

Source: TradingView

Should LUNC’s price sustain its position above $0.6 in the coming days, a beacon of hope emerges for buyers to potentially spearhead a rally of up to 25%, culminating in a rendezvous with the overhead trendline of the channel. Yet, the market’s true affirmation of a trend reversal hinges upon a more decisive signal: a bullish breakout from the resistance trendline.

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Solana In Turbulence: Analyzing The Death Cross And What Lies Ahead

1 year ago

Nova’s Strategic Intervention Amidst Community Dynamics

In a parallel development, Terra Luna Classic’s validator, Nova, has unveiled a strategic initiative in response to a proposal that floundered amidst some challenges. The proposal, aimed at funding the Quant USTC repeg team, faced rejection within the Terra Luna Classic community.

As a result of the refusal of #LUNC validators to pay the $USTC Team for work that they delivered successfully, we will now be funding the USTC Team directly with our commissions in response to this breach of contract by validators.

If you want to fix the chain, please delegate.

— Nova (@NovaValidator) August 23, 2023

Despite a promising trajectory for Proposal 11716, which sought to financially support the Quant team for the month, some validators’ eleventh-hour “No” votes led to its downfall.

Consequently, Nova has stepped forward to finance the USTC repeg team, fostering a collaborative spirit. With an appeal for the community to align their interests and redelegate with Nova, a concerted effort seeks to bolster the USTC repeg mission and breathe renewed life into the Terra Luna Classic ecosystem.

Cryptocurrencies market cap barely unchanged at $1.04 trillion today: TradingView.com

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Optimism Reverses From Range Low With 10% Gain – How Far Can Bulls Go?

1 year ago

The LUNC price on CoinGecko currently stands at $0.00006448, reflecting a 0.5% increase in the past 24 hours. Additionally, over the course of the past seven days, the LUNC price has experienced a decline of 4.8%.

LUNC price action today. Source: Coingecko

As the Terra Luna Classic journey unfolds, the interplay of technical trends and community dynamics sets the stage for another chapter in the cryptocurrency narrative.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from The Blade

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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