Terra Luna Classic Price Forecast When will the next token burn for Binance?

Terra Luna Classic is making preparations for a bullish riseto $0.00037 after a solid hold at $0.00025 support. In the past few months, the stock's performance has did not please investors, since they had to count losses as high as $0.00037. However, the data from a double bottom that has was recently observed on the chart for four hours suggests that a move of 26% upwards could be in the near future.

Terra Luna Classic Token Burn On Binance Catches Momentum

Binance's exchange is taking the place in the Terra Luna Classic (LUNC) burning process for tokens. The Binance exchange's efforts seem to be paying off with nearly 8.5 billion tokens being removed out of the cryptocurrency project's stock. In the second week of process of burning that began in September 26, and concluded on the 1st of October, witnessed 5.5 million LUNC tokens wiped out of existence. Similar to the week that ended on October 8 wiped out 2.9 billion tokens of stock.

The biggest crypto exchange firm has pledged to aid Terra Luna Classic reduce its oversupply of tokens by providing burning schedules for tokens every week - beginning on Tuesdays until the end of the year. The first was on the 3rd day of October The second was on the 11th of October, and the specifics of the third burning will be announced on October 17th.

Terra Luna Classic Price surged approximately 68% within just 24 hours following Binance Chief Executive Officer Changpeng Zhao (CZ) announced. LUNC went by $0.00018 up to $0.00037 on the 1st of October, after the price doubled within a matter of one week.

Terra Luna Classic eyes bullish move to $0.00037

LUNC is currently increasing its positive outlook starting with support at $0.00025. This key region has been tested twice within the last three weeks, which makes it a powerful springboard to another significant jump, aiming for $0.00037.

Terra Luna Classic price retracement to $0.00025 created a double-bottom pattern which could be confirmed in the coming sessions. Trend reversals are usually anticipated when this pattern is seen at the top of the chart.

The traders who plan to go in the long-term direction for Terra Luna Classic should, but wait until the price is above the neckline of the pattern - an action that will help them avoid traps for bulls.

Chart of the four-hour LUNC/USD

The OBV (On Balance Volume) has changed direction from the downside and suggests that investors see the bullish position in LUNC feasible. Additionally the Stochastic oscillator will be crossing above the midline following a tagging of the oversold zone at 20.00. If the indicator creates an upward divergence from the price, chances of a bullish continuation will likely to rise.

It is important to note it is worth noting that Terra Luna Classic price will meet resistance at $0.00030. Some investors might consider this as a profit goal and the most optimistic could hold onto $0.00037.

However, those who remain bearish will likely be waiting for an upward pullback from the seller congestion that is currently at $0.00030. Because of this, they are placing bets on LUNC to extend its downtrend to $0.00025. If the market is pushed which results in panic selling then it is possible that the Terra Luna Classic downtrend could slow down to $0.00022 or $0.00018.

Terra Luna Classic Alternative - IMPT

Terra Luna Classic Terra Luna Classic development team is pulling every trick up its sleeves to ensure that the project becomes an absolute success, however, it could take a while. Investors seeking potential gains faster can look into the project IMPT, which is which promises to help cut down on the carbon footprint of the world by tokenizing credit on the blockchain, thereby providing greater transparency to all involved.

For more information on IMPT investors, market participants who are interested can read through the paper. IMPT project is currently in the stage of presale, which means investors can benefit from the benefits of early bird sales. Additionally, the team has an exclusive Telegram channel on which interested parties will receive regular information about the project.

Go to IMPT Today

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