- LUNC crypto is witnessing an increase in its trading volume in the last 24 hours.
- The Terra Classic token is currently trading at a level of $0.00009668.
LUNC is the legacy token of the Terra blockchain, which changed its name to Terra Classic after a governance vote following a UST depegging event. LUNC is the main staking and governance token of the Terra Classic network, which still operates with disabled market swaps.
The LUNC token has witnessed a decrease of 4.35% in the market cap in the last 24 hours, resulting in a market cap of $559.16 Million. There has also been an increase of 24.84% in volume, which indicates that the traders are active. The volume/market cap ratio of the LUNC crypto is 100.06%.
The crypto has a circulating supply of 5.81 Trillion LUNC and the total supply of the token is 6.83 Trillion, along with an infinite max supply. Additionally, the fully diluted market cap of the crypto is $657.75 Million.
LUNC Crypto Liquidation Analysis
LUNC crypto has reported a long liquidation of $785.51K against the short liquidation of $664.56K, as per CoinGlass. This results in a long/short ratio of 0.9463 which shows that the sellers are dominating the price.
LUNC Crypto Technical Analysis
The LUNC crypto is making a bearish pattern on the charts and is facing resistance at the higher levels. The crypto has fallen in value by 99% from its all-time high. This is a sign of huge negativity in the trend of the price.
LUNC/USD Chart by TradingView.com
After declining for a longer period of time, the LUNC token price formed a descending triangle pattern on the daily timeframe. This resulted in a breakout of the pattern. The price is currently trying to rise to higher levels.
The LUNC crypto price has broken above the crucial EMAs such as the 20, 50, and the 200-day EMAs. Although the 50-day and 200-day EMAs are forming a death cross, the breakout of the price shows the potential for a change in the trend.
Conclusion
The analysis of the LUNC crypto price shows signs of a bullish reversal after breaking out of a descending triangle pattern and above the EMAs. The price might continue to rise in the near future if it breaks above the high of the most recent swing high.
Disclaimer
The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.