Terra Classic (LUNC) price has recorded a notable upswing, climbing 20% over the past week. Following a correction, the broader crypto market is showing signs of recovery. Bitcoin (BTC) trades near $97,000, edging closer to the $100,000 mark. Meanwhile, LUNC stabilizes near key resistance levels, raising speculation on its potential movement in the next 90 days.
How Far Can Terra Classic Price Climb in the Next 3 Months?
Terra Classic price surged for five consecutive days, breaking a key resistance level as the network approaches a crucial milestone. The cryptocurrency’s market performance aligns with a broader altcoin recovery over the past week.
The ongoing token burn initiative is a key factor supporting LUNC’s upward movement. Recent LUNC data reveals that over 628 million LUNC tokens were burned in the past seven days.
The total burned supply now stands at 402.78 billion, surpassing the 402 billion mark earlier this month. Of this amount, 67.86 billion LUNC were removed through on-chain burns, while 334.92 billion were donated to the burn wallet, primarily by Terraform Labs.
The circulating supply remains at approximately 5.51 trillion LUNC, and market sentiment has turned increasingly bullish. Over the last week, Terra Classic’s price has surged more than 20%, signaling renewed investor confidence.
If the Bitcoin price rallies beyond $100,000, LUNC could see further gains driven by increased buying pressure.
As the network moves toward its next milestone of 621.5 million transactions, traders remain watchful for potential price breakouts. The ongoing burn mechanism and broader market trends may continue shaping LUNC’s trajectory in the coming months.
LUNC Price Eyes $0.0001 as Bullish Momentum Builds
As of the reporting time, the LUNC price is trading at $0.00008038, reflecting a 10% increase in the last 24 hours. The cryptocurrency is showing strong bullish momentum, supported by key technical indicators.
The price action has formed a rising channel, suggesting continued upside potential. A breakout above the $0.00008 resistance level could pave the way for a 25% rally toward the $0.0001028 target.
If buying pressure remains strong, LUNC could reach the psychological mark of $0.0001, marking a significant price jump.
The Moving Average Convergence Divergence (MACD) is trending above the signal line, confirming bullish sentiment.
The histogram is also printing green bars, reflecting increasing buying pressure. This suggests that LUNC could maintain its upward trajectory if momentum continues. The Relative Strength Index (RSI) is at 78, signaling overbought conditions.
Key Support and Resistance Levels
Immediate support lies at $0.00008, with additional levels at $0.00006420 and $0.000062. If bulls lose momentum, these levels could act as cushions against downward movement.
Key resistance is seen at $0.000084, followed by $0.00009. A decisive close above these levels could accelerate the move toward $0.0001, marking a 25.16% price increase from current levels.
Terra Classic (LUNC) price remains on an upward trajectory, fueled by the burn initiative and improving market sentiment. If Bitcoin surpasses $100,000, LUNC could gain momentum, pushing toward $0.0001.
The post How High Can Terra Classic (LUNC) Price Go in Next 90 Days? appeared first on CoinGape.
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