Terra Luna Classic has crashed at a major support level, sent to the burn rate source mixed with daily charts.
The price of Terra Luna Classic (LUNC) was trading at $ 0.000070 on Thursday, which was at $ 0.000054, a few points from the significant support level. Data shows that Terra Luna Classic token continues to increase, reducing the circulating supply.
The network provoked 382.4 million tokens in the last seven days, exceeding the total burn 403 billion. Now there are about 6,49 billion tokens.
The number of tokens burnt this week will increase as the banns operates its monthly water. The largest cryptocurrency exchange, Benance, Terra Luna has been one of the top supporters of Classic. It is incinerated More than 70.8 billion Tokens, and trend continues.
Binance is also one of the top Tier -1 exchanges that continue to list the tokens and have supported many of its upgrades. This week, the exchange supported a minor upgradation by suspending deposits and withdrawal during the process.
A Cryptocurrency user said that Benance is among the top Terra Luna Classic The holder, yet the company did not sell its tokens this week. Instead, it dumped atherium and solana, an indication that it still has faith in the network.
Terra Luna is one of the largest collapse in the classic crypto industry, the remains of Terra. Terra offered an algorithm stabelcoin, promising a reply to double -points before falling, erasing billions of dollars in value.
LUNC Price Analysis: Sending mixed signals
The weekly chart suggests that Terra Luna classic value is in a trend of a strong recession for the last few years. It fell at $ 0.000054 at a significant support level, which failed to break down in June 2022, September 2023, July 2024 and again this month.
On the positive side, it may indicate the formation of a popular speed pattern, a quadruple below. It suggests below that small vendors hesitate to keep trades below this level.
However, there is also a possibility that Terra Luna Classic Value has formed a descending triangle, a recession continuity pattern.
A drop below support at $ 0.000055 will validate the descending triangle and further negative indication. In contrast, descending may indicate a breakout and reverse above the trendline, potentially pushed the price to the highest level of 2024 high $ 0.0002792, its highest level in December 2023, its highest level, an increase of about 300% from the current level.
