Terra Luna Classic (LUNC) rose parabolic again yesterday as we see its price rise 42.39% in the last 24 hours.
September could be an important month for the Terra Luna Classic (LUNC) community, as there are rumours that major exchanges such as Bluechip casino may support a token burn, due to start on 12 September. It is a burn mechanism that effectively removes 1.2% of the total transaction volume from the offering.
Will Terra Luna Classic continue to grow?
Terra Luna Classic (LUNC) Price forecast for 2022
Terra Luna Classic is back in the spotlight today as investors expect further positive price momentum through the end of September.
From a technical analysis perspective, Terra Luna Classic (LUNC) cryptocurrency looks extremely optimistic, and it has overcome critical resistance levels in the past few days.
LUNC needs to respect the $0.000305 support level to prevent a continuation of the downtrend.
At the time of writing, Terra Luna Classic (LUNC) cryptocurrency was within a classic bullish pennant pattern, where we could speculate on another upside breakout.
Measuring the flagpole of this bullish pattern, we can assume that the technical target would take us to $0.000401.
Lunc/Usdt is the 30-minute timeframe.
Clearly, the bulls are in control of the Terra Luna Classic at the moment. If LUNC can retest the $0.000354 resistance trend line, we could see another upside breakout, which could add a total of 12.74%.
This should be backed up by high volume and a retest as support to confirm the move and make sure it is not a dud.
Lunc/Usdt is the 6-hour timeframe.
While it might be tempting to chase green candles, it is worth remembering that Terra Luna Classic (LUNC) is currently in an overbought zone on the Relative Strength Index.
We can also see a bearish divergence forming, which could mean that a short-term decline is imminent and a healthy consolidation at these euphoric overbought levels is required.
In addition, we see that Terra Luna Classic is also above the upper Bollinger Band trend line (upper pink trend line), suggesting that we might see a reversal downwards in the near term.
The 20-day moving average is now overextended and it would be good to see a pullback and retest this level to see if we can hold key support levels around $0.0003.
Terra Luna Classic video analysis
Terra Luna Classic seems to be completely independent at the moment and not related to bitcoins and the rest of the cryptocurrency markets or the sentiment surrounding them.
If Terra Luna Classic can maintain positive price movement, I assume we could potentially reach $0.0005 in the next few weeks.
LUNC Alternative – Tamadoga (TAMA)
Although Terra Luna Classic has performed fantastically recently, the price has already risen by 750% since June 2022. This means that upside potential is limited, as yields are starting to decline as market capital rises higher and higher.
If you’re looking for other potentially lucrative cryptocurrencies designed with longevity in mind and with high long-term growth potential, Tamadoge could be next.
Tamadoge is a unique and exciting meme coin that can be earned by deploying it on the Ethereum core network.
What makes Tamadoge such a strong choice is that it is a deflationary meme coin with a maximum stock of just 2 billion coins.
Not only is it a service meme coin that integrates augmented reality and offers the ability to mint its own Doge NFT, but players can also benefit from zero transaction fees.
Tamadoge has been in pre-sale for 5 weeks and has already raised a whopping $11,648,050. Only 30% of the presale coins remain and it is predicted that the presale could end in October 2022.