Positive news has been coming out of Terra Luna Classic, which has caused the coin to increase by almost 19% over the past month. The 0.7% loss recorded over the previous 24 hours, however, indicates that the news does not appear to be supporting the bulls.
A fading LUNC rally.
Over the past day, LUNC has decreased by less than 1%. The argument for a bull run that persisted for the majority of the month has been disproven by the recent decline. The news that a LUNC burn was being supported on the Binance exchange sparked the upward trend in LUNC.
The Relative Strength Index (RSI), which is currently at 57, indicates that there is still strong buying support for LUNC. A strong bullish trend can be seen by the MACD, which is also above the signal line. However, given LUNC’s performance over the previous day, there is a chance that the trend may change and the token will make lower lows.
Positive changes involving LUNC.
Positive events in LUNC may point the price towards a strong bullish trend even though the technical indicators suggest that the trend may reverse as bulls and bears battle for dominance.The possibility of LUNC becoming listed on the Coinbase platform has been circulating around the cryptocurrency community. One of the biggest social trading platforms for cryptocurrencies in the US is Coinbase. The listing effect causes significant profits for coins listed on a prominent exchange like Coinbase.
After hearing that the exchange had bought LUNC coins for $245 million, one Twitter user predicted that Coinbase may list LUNC. The Twitter user assumed that, in the event that such a listing materialised, it would do so within a week.
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