3 Reasons Why LUNC Price Might go to $0.00 – 3 Alts to Buy Instead

The recent rally across the broader cryptocurrency market recently created some gains for Terra Luna Classic. LUNC is currently up by less than 1% over the past 24 hours. In the last week, LUNC has gained by around 4.9%.

LUNC price analysis

LUNC has created a bullish flag over the past 24 hours, with the gains largely attributed to the action witnessed in the broader crypto market over the past few days. In the last 24 hours, LUNC has traded between $0.00023 and $0.00025, indicating mild volatility.

LUNC’s trading volumes over the past 24 hours stand at over $261 million, which is a healthy volume, as it shows traders are still interested in the token. However, the gains made by LUNC in the recent crypto bull run are significantly lower than some altcoins that have gained by double digits.

LUNC’s buying pressure does not seem to be adequate to support the token’s rally to break resistance levels past $0.00045, after which the token could be prime to erasing one zero and heading higher.

The technical indicators are proving that LUNC is in bull territory. The relative Strength Index (RSI) is currently at above 60, showing that the token is in the overbought zone. The buying momentum could be attributed to the slight gains seem over the p0ast few days.

The movement of the Moving Average Convergence Divergence (MACD) line also shows that the bulls are in control. The movement of the MACD line shows that bears are attempting to drop the prices and make LUNC retrace. Therefore, if the buying pressure fails to hold, it is likely that LUNC will head lower.

LUNC burning continues

As LUNC bulls struggle to sustain a notable uptrend, the Terra community has continued with the burning process for LUNC tokens. The LUNC community passed a 1.2% tax burn to reduce the existing supply of LUNC.

The burn seems to be receiving notable adoption, as seen in the nearly 25 billion LUNC tokens that have been burned so far. The Binance exchange is among those supporting the burn, with the exchange burning nearly 12.5 billion LUNC tokens through trading fees on the spot and margin trading pairs. However, the burn is barely lowering LUNC’s supply that is currently above $6.8 trillion.

Alts you should buy instead

If you want to diversify your crypto portfolio, you should consider investing in these three new altcoins.

The next token to explode is Dash 2 Trade, whose presale surpassed $2 million after completing the first stage. So far, this presale has raised over $2.9 million. Dash 2 Trade is a new project that provides trading signals to investors to make their trading journey easier.

The other token to consider investing in is IMPT. IMPT is also a new cryptocurrency, whose presale is already on stage 2. The presale has already raised over $11 million. The IMPT.io project is focused on lowering carbon emissions, making the token suitable for ESG-conscious investors.

Calvaria is a new play-to-earn game. The game seeks to make it easier for non-crypto players to venture into the blockchain gaming space. RIA, the native token of the project, is currently in stage 2 of the presale after raising over 459,000 USDT.

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