Terra Luna Classic (LUNC) Price Prediction October 2022

 

Terra Luna Classic (LUNC) shocks the crypto market as soon as again as it pumps over 15% in the last 24 hours.

Shortly after pumping lower back up to $0.000296, LUNC retraced slightly down to $0.000279 and must now retest $0.00029.

Will Terra Luna Classic price get better back to $0.00032 in October?Also Read Uniswap (UNI) Price 2022 - Uniswap Price Prediction 2022

 

Terra Luna Classic (LUNC) Crypto Price Prediction

Terra Luna Classic had been buying and selling within a bullish reversal pattern acknowledged as a broadening descending wedge.

This is formed when the price rallies and retraces inside a descending wedge which has diverging resistance and support trendlines.

Currently, LUNC is buying and selling at $0.000282 but is still up via 9.11% since this morning. This could doubtlessly be a short term retracement till we see more positive rate continuation.

As we can see LUNC effortlessly found support round the $0.000257 following the recent breakout due to the bullish news round Binance who will soon be integrating the 1.2% burning and taxing mechanics.

Whilst a rapacious breakout occured, LUNC didn't pretty hit the technical price target of $0.00033.

It is now integral that LUNC can hold the $0.00028 support stage in order to prevent negative continuation to the draw back and from entering the broadening wedge pattern as soon as again.

Historically, October and November are strong months for the crypto markets, we could doubtlessly see the entire market sentiment shift from extreme worry to neutrality or greed.

This would result in an uptrend for Bitcoin which should additionally drag altcoins such as Terra Luna Classic up with it.

Even though LUNC has been in the limelight once once more these past 24 hours, on the macroscale LUNC has still fashioned a lower high which is technically bearish.

I speculate that October we may additionally see the price of LUNC chop between $0.000329 and $0.000257

LUNC Must Burn More Supply

It is integral that Terra Luna Classic continues to burn more of its ever so inflated supply of 6,151.07b tokens in order to see tremendous price action for the future.

Recently, extra major centralized exchanges in the market such as Binance are onboarding the 1.2% tax burn and mechanics which is a great start.

Once we see greater tier 1 and tier 2 centralized or decentralized exchanges follow in their footsteps, the provide of LUNC will come down.
As we can see the last 30 days of burning for the total LUNC provide looks fantastic and is nearly completely linear.

As exchanges bring in extra trade volume for LUNC and if the Terra Luna Classic neighborhood is able to thrive with morale and confidence greater LUNC tokens will be burnt.

According to Terrarity, it is predicted that in 5 years 8.436% of the total LUNC provide will be burnt. This is a total of 582,197,733,676 tokens compared to the 0.062% that has been burnt today.