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Why Is Luna Classic (LUNC) Price Skyrocketing Today?Luna Classic (LUNC) price has skyrocketed by 60% in response to strategic investment and USTC perpetual contract launch by Binance. The sudden upsurge witnessed in Terra Classic tokens in the last 48 hours is not the first time for the Terra ecosystem. The community-led Terra Luna Classic chain witnessed multiple revival efforts from introducing burning to inter-blockchain communication (IBC). LUNC price has skyrocketed by 60% in response to strategic investment and perpetual contract launch by Binance. Terra Luna Classic (LUNC) Gains 60% With multiple key proposals passed by the community and positive sentiment amid broader crypto market recovery, Luna Classic Labs purchased 25.6 million USTC worth about $500,000 as part of its treasury reserve policy at an average purchase price of $0.021 per USTC. Trader QT, a partner of Luna Classic Labs, stated this is an initial investment. It resulted in a 100% jump in USTC price, with the community noting a breakout above resistance. USTC witnessed a further pump as investors also poured money into USTC. It triggered an upside move in the Terra Classic (LUNC), with traders noting a massive increase in liquidity and trading volumes. Binance Futures launching the USD-M USTC Perpetual Contract with up to 50x leverage sparked further rally. USTC price climbed nearly 400% in two days. The announcement further raised community sentiment, while also speculating whether it was already known to some investors as the Terra ecosystem tokens witnessed sudden rallies. LUNC price also jumped and made a 60% gain amid the events. The price is currently trading at $0.000119. The 24-hour low and high are $0.0000787 and $0.0001256, respectively. Furthermore, the trading volume has increased by 1120% in the last 24 hours, indicating interest among traders. USTC price trades at $0.055, paring earlier gains to 191% in the past 24 hours. The 24-hour low and high are $0.015 and $0.068, respectively. The trading volume has also slid briefly after Binance’s USTC perpetual trading announcement.
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by DEXWireNews
LUNC/USDT in deep trouble! Will Bulls Jump-in?The crypto markets have yet again fallen under the bearish influence as the larger tokens have squeezing out their profits after remaining inflated for the past few days. Meanwhile, the TerraClassic (LUNC) price is no exception as the current trade set up indicates either the token is extending its consolidation or ready to dive deep soon. LUNC price has been trading within a bearish triangle from quiet a long time but after the price rebounded from the support, a ray of hope of a bullish breakout flashed. However, the fresh sell-off challenged the bulls, compelling the price to plunge and head towards the lower support zone. The token now may either drop down to trade within the support zone, hit the last point of defence at $0.0000868 and reclaim the levels beyond $0.0001 again. Else the more likely outcome could be an extended consolidation just below the pivotal resistance at $0.000155 for a while, until the bulls strengthen their grip and rise beyond the resistance.
by Coinpedia-Market-Insight
2
LUNAUSDT12h The Terra Luna 2.0 price will be $1 or $11 ?A few days ago, we published the idea of ​​Terra Luna 2.0. And the fact that the LUNAUSDT price did not reach $8.5 and immediately fell to the level of $2.5 is a bad signal. We warned about the high volatility and manipulability of this asset. Trading LUNAUSDT with leverage is with possibility 80-90% drop of your deposit to 0. Two possible scenarios in our opinion from the neutral side, as we do not trade this asset: A positive scenario will come if buyers manage to fix the LUNAUSD price above $3.80-4. Then it will be possible to at least start dreaming about growth to 11-14 dollars. The stay of the LUNA 2.0 price below $3.80 indicates the weakness of buyers and, accordingly, the possibility of a further fall to the round level of 1 dollar We consider $1.80-2.20 as a critical zone of support for buyers, below which a drop of another -50% is very likely _______________________________ Since 2016 , we have been analyzing and trading the cryptocurrency market. We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer — help us to be happier :)
by P_S_trade
15
LUNAUSDT Trade Terra2.0 without leverage and be careful near 8.5Terra Luna 2.0 will continue without its algorithmic stablecoin UST and aims to preserve the Terra ecosystem with hundreds of developers working on different decentralized applications. The LUNA token will be airdropped across Luna Classic stakers, holders, residual UST holders and essential Terra Classic app developers. In general, Terra Luna 2.0 is now attracting attention due to hype news and rapid growth in the last few days. Increased attention and the desire to earn a lot and quickly pushes market players with small deposits to trade with large leverage. Margin calls provoke increased volatility, which nullifies the deposits of both short and long traders. Moral: if you want to trade this coin, then buy it only on the spot and for part of your trade deposit. Then in the worst situation, the maximum that threatens your deposit is a deep drawdown of part of the deposit, but by no means 0 on the deposit. For now, the maximum that we assume is a rise Lunausdt price to $8.5 And then another deep correction to $2.5 may begin _______________________________ Since 2016, we have been analyzing and trading the cryptocurrency market. We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer — help us to be happier :)
by P_S_trade
31