Terra Luna Classic Price Prediction: USTC Surprising Return Causes LUNC to “Kill” One Zero

Following the community’s overwhelming approval of a plan for the on-chain launch of Terrad client v2.3.1, LUNC surges to $0.00013 supported by rising demand in ecosystem tokens, especially USTC.

Terra Luna Classic Price Prediction: The stablecoin USTC may be able to regain its $1 peg, thanks to a remarkable surge in the price of the Terra Luna Classic (LUNC) token that surprised the cryptocurrency community on Monday.

[TRADE_PLUGIN]LUNCUSDT,LUNCUSDT[/TRADE_PLUGIN]

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Votes by the Terra Luna Classic Community to Resurrect LUNC and USTC

Following the community’s vote to approve a proposal that would see the two digital assets make a reappearance, the talk in the cryptocurrency market on Monday was mostly focused on two assets: LUNC and USTC.

The plan to obtain community permission for the on-chain launch of Terrad client v2.3.1 concerns the addition of a dynamic validator commission module, as detailed in a previous CoinCape article on the developments.

The “Sequence Mismatch Issue Resolution” proposal 11885 received 99.96% of the total votes cast, with LUNC and USTC experiencing explosive double- and triple-digit increases.

As of this writing, the stablecoin for the ecosystem, TerraClassicUSD, is trading at $0.0511 after rising 37% in a day, 278% in a week, 264% in a fortnight, and 315% overall in 30 days.

However, according to CoinGecko market statistics, LUNC has increased by 35% over the past seven days, 25% over the past week, and 59% over the past thirty days. It has also traded 8.2% higher in a single day at $0.000103.

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Terra Luna Classic Price Prediction: Can LUNC Hold the Uptrend to $0.0002?

The tremendous amount of support that LUNC has received over the past day has enabled the token to surpass $0.0001, thus “killing” one zero. The data below shows that LUNC increased to around $0.00013 before declining to its current market value.

A quick look at the Moving Average Convergence Divergence (MACD) indicator confirms the buy signal, supporting the bullish view. As long as the momentum indicator maintains the uptrend above the neutral zone and the blue MACD line remains above the red signal line, traders are likely to continue initiating new long bets in LUNC.

Additionally, the 50-day Exponential Moving Average (EMA) (red) is crossing above the 100-day EMA (blue) on the daily chart, marking a critical bullish cross for Terra Luna Classic.

One bullish chart pattern that indicates a sustained bullish trend is the golden cross. Thus, sentiment will continue to improve if LUNC can maintain support above $0.0001, supported by ecosystem advancements meant to restore the long-lost grandeur of USTC and Terra Luna Classic.

In order to prevent abrupt corrections in the future, traders will need to make sure LUNC checks certain important boxes, such maintaining above $0.0001 and breaching the subsequent barrier at $0.00013. They can so profitably anticipate Luna Classic increasing to $0.0002.

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Binance Futures Listed The USTC/USDC Pair

Starting on the same day, Binance will list the “USDⓈ-M USTC Perpetual Contract,” which offers up to 50x leverage, according to a blog post that Binance published on November 27.

In this scenario, USDT would serve as the settlement currency, with the stablecoin USTC serving as the underlying asset. It was planned to settle the funding cost every four hours, and the funding rate cap was set to +2.00% / -2.00% at launch time.

[TRADE_PLUGIN]LUNCUSDT,LUNCUSDT[/TRADE_PLUGIN]

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