LUNC Surged 14%

The entire cryptocurrency world was astounded to witness the trading price of LUNC suffer a significant surge, as it was a remarkable sight to behold.

On Thursday, it was announced that the price of LUNC rose by 14% in the trading market. The Terra Classic team had a fantastic time at this rally, and they were in desperate need of it.

The circumstances have taken on a very interesting turn for LUNC, and the organization appears to be gaining more support on its side. It is possible that as a result of this, the value of LUNC may dramatically increase and reach a new high point.

The Price Action of LUNC

The price charts updated on Wednesday, revealing that the day's trading price of LUNC has dropped to a new low of $0.0001667. On Thursday, as the trading day was drawing to a close, LUNC's price had increased to $0.0002144, marking a new all-time high.

Prior to the upswing, the price of LUNC had been trending in the opposite direction. The backers of LUNC had seen a string of drops over the previous four days, and it was possible that the digital asset would continue to move downward.

The buyers came in at that point, which allowed the trading price of LUNC to recover and continue its upward trend. The price of LUNC bounced back just as it was getting near to a level of support that is considered to be quite reliable.

As the bears and buyers got closer to the crucial support level, the bulls did not give the sellers much room to exert their dominance. From this point forward, the bulls grabbed command of the situation and organized a powerful rally.

According to the findings of the technical analysis, the most important support level is $0.0001610, and it has a track record of being responsible for producing powerful rallies. On September 1, LUNC reached a new all-time high of $0.0002900 thanks to the robust rally that was accomplished at the same level.

LUNC's RSI

The relative strength indicator, commonly known as LUNC, is demonstrating positive movement as well. As a result of the current upswing, it apparently moved in the upward direction.

Before the rise, the LUNC RSI was exhibiting a bearish trend, which is an important fact to keep in mind. It had dropped to a level that was lower than 29.40 and was about to drop even further.

At that point, the rally began, and one of its effects was to assist push the relative strength index (RSI) higher, which supported the rising trade price. When the relative strength index (RSI) moves in an upward direction, investors gain confidence and become more willing to support a rally in LUNC's price.

The RSI for LUNA Classic is currently sitting at 37.70 as this article is being written. In the event that the rally continues, the RSI would maintain its upward trajectory.

If the bulls can keep up their momentum, market analysts anticipate that the trading price of LUNC will climb all the way up to $0.0002150.

Binance is providing assistance.

In order to assist in the process of increasing the price of LUNC, it was suggested that as many LUNC as possible be burned. Because of this, there would be less available, which would lead to scarcity and an increase in demand.

Binance has introduced a new program in which a portion of each LUNC transaction fee will be contributed to a specific fee. A portion of the fee is put toward the purchase of LUNC, which is followed by their transfer to the address designated for the burning of LUNC.

In order for Binance to achieve their goal of increasing the price at which LUNC is traded, they have wasted millions of LUNC thus far.