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Terra Luna Classic Price Prediction: On 27th November(Monday), The Terra Classic coin grabbed the attention of crypto investors with a sudden intraday surge. The rally was likely influenced by massive growth in Stablecoin USTC amid a strategic investment by Terra Classic Lab. Can this news-driven rally push the LUNC price above $0.00015?
Terra Luna Classic Community Votes To Revive LUNC and USTC
The buzz in the crypto market mainly centered around two digital assets; LUNC and USTC on Monday after the community voted to pass a proposal that could see the two assets make a comeback.
In an earlier report by CoinCape on the developments, the proposal aimed at securing community approval for the on-chain rollout of terrad client v2.3.1 pertains to the incorporation of a dynamic validator commission module.
LUNC and USTC exploded in double and triple digits, with 99.96% of all votes cast being in favor of the “Sequence Mismatch Issue Resolution” proposal 11885.
The ecosystem’s stablecoin TerraClassicUSD has recovered to trade at $0.0511 at the time of writing, increasing 37% in 24 hours, 278% in a week, 264% in a fortnight, and 315% cumulatively in 30 days.
On the other hand, CoinGecko market data shows LUNC trading 8.2% higher in 24 hours at $0.000103 in addition to growing by 35% in seven days, 25% in a week, and 59% in the last 30 days.
Terra Luna Classic Price Prediction: Can LUNC Sustain The Rally To $0.0002
The support LUNC received in the last 24 hours was overwhelmingly strong, allowing the token to rise above $0.0001, ‘killing’ one zero. Based on the chart below, LUNC climbed to touch $0.00013 before pulling back to its current market value.
A glimpse of the Moving Average Convergence Divergence (MACD) indicator reinforces the bullish outlook by revalidating the buy signal. Traders are likely to keep opening new long positions in LUNC as long as the blue MACD line holds above the red signal line and the momentum indicator sustains the uptrend above the neutral area.
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Terra Luna Classic is also tapping a strategic bullish cross on the daily chart formed when the 50-day Exponential Moving Average (EMA) (red) crossed above the 100-day EMA (blue).
The golden cross is a bullish chart pattern that signals a continuing bullish trend. Therefore, if LUNC can uphold support above $0.0001, sentiment will continue to improve backed by the developments in the ecosystem aimed at achieving the long-lost glory of USTC and Terra Luna Classic.
Going forward, traders must ensure LUNC ticks some key boxes to avoid sudden corrections such as holding above $0.0001 and breaking the next resistance at $0.00013. This way, they can profitably look forward to Luna Classic climbing to $0.0002.
USTC/USDC Pair Listed On Binance Futures
Binance announced on November 27 via a blog post that it will be listing “USDⓈ-M USTC Perpetual Contract,” starting on the same day with up to 50x leverage.
The underlying asset in this case is the stablecoin USTC while settlement would be done in USDT. At launch time, the funding rate cap had been set to +2.00% / -2.00% with the funding fee settlement frequency scheduled to occur every four hours.
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