LUNC Smashes Resistance—410 Billion Burn Looms as Traders Eye Next Move

LUNC’s price just bulldozed through a critical resistance level—fueling speculation that Terra Classic’s aggressive token burn campaign might actually work. The network’s creeping toward 410 billion LUNC incinerated, but let’s be real: that’s still a rounding error for a coin that cratered 99.9% in 2022.

Key levels breached: The breakout suggests bulls are back in control, at least until the next ’stable’ coin depegging event. Technicals show bullish divergence, but fundamentals? That’s a casino-grade roulette wheel.

Watch the burn rate: Every billion tokens torched theoretically tightens supply. In practice? It’s like using a thimble to bail out the Titanic—entertaining to watch, but don’t bet your FSA on it.

LUNC price technical analysis

The daily chart shows that LUNC has rebounded strongly in recent days. This move followed a drop to a key support level at $0.000057, which had previously acted as support in July, August, February, and March. The token has now moved above a descending trendline connecting the highest swing points since January 20, invalidating a descending triangle pattern that had been forming.

Additionally, the LUNC price has crossed above its 50-day moving average. Notably, the Awesome Oscillator and the MACD indicators have both moved above the zero line, continuing to display a bullish divergence pattern.

If this momentum holds, the LUNC price could rally to the next key resistance level at $0.0001, representing a 60% gain from the current level.