Terra Luna Classic (LUNC) has defied expectations, surging in price despite the recent announcement of its delisting from Gemini. The cryptocurrency is currently trading at $0.00008363, with a 24-hour trading volume of $25,259,192.
Crypto analyst Javon Marks has predicted a potential breakout for LUNC, targeting a price of $0.000593. This would represent a gain of over 600% from current levels, sparking excitement among traders and investors.
Technical analysis supports this bullish outlook. The Bollinger Bands are tightening, suggesting a potential shift in price direction. A break above the upper band could trigger a significant rally, while failure to do so might result in further consolidation.
The MACD indicator also hints at bullish momentum, with a recent crossover indicating growing market optimism. However, the strength of this uptrend remains moderate.
The Relative Strength Index (RSI) for LUNC is currently at 57.17, indicating a mildly bullish sentiment. This neutral zone allows for further upward movement without the risk of being overbought.
Despite Gemini’s delisting announcement, LUNC’s price has remained resilient, reflecting broader market recovery trends. The exchange cited a routine review as the reason for the delisting, stating that certain assets did not meet its listing criteria.
While the delisting may not have a significant impact on LUNC’s performance in the short term, investors are closely watching the upcoming Plan Confirmation Hearing for Terraform Labs’ bankruptcy cases. The outcome of this hearing could influence market sentiment around both LUNA and LUNC.
Related: Gemini Delists Terra Luna Classic Amidst Broader Delisting Spree
As LUNC continues to defy expectations and demonstrate resilience, traders are eagerly anticipating its potential breakout and the subsequent price appreciation.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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