Multiple Resistances Prevent $LUNC Price Rally to $0.0001; What's Next?

Amid the last three weeks' consolidation, the LUNC price formed a descending triangle pattern in the 4-hour time frame. Though this pattern commonly accelerates the supply pressure in an asset, in rare cases, the buyers express higher dominance with the breakout out of its resistance trendline.

Timeline of Terra-luna

Terra Classic core developer group Joint L1 Task Force (L1TF) officially released the proposal for the v2.1.0 upgrade for discussion and review on Commonwealth. It is one of the biggest upgrades since the Terra Classic community took charge of the blockchain after the Terra-LUNA crisis in May last year.

LUNC News: Terra Classic core developer team Joint L1 Task Force (L1TF) on Monday said the developer group will assist Dapps with critical requirements before the CosmWasm v2.1.0 parity upgrade. Joint L1 Task Force project manager LuncBurnArmy has asked Dapp owners or Dapps having any sealed smart contract to reach out to developer Fragwuerdig for any

Terra Classic Price Analysis: The ongoing consolidation phase in the LUNC price founds suitable support at the $0.0000825 level. Over the last three weeks, the coin price rebounded thrice from this aforementioned indicating the traders are actively accumulating at this support.

After burning nearly 2.5 billion Terra Classic (LUNC) tokens this month, decentralized finance protocol DFLunc shifted its focus to the highly awaited AI app chain “Block Entropy” by core developer Edward Kim. The project has burned millions of LUNC tokens token this week in order to obtain Block Entropy TestNet tokens.

In the aftermath of Terra's (LUNA) crash in 2022, which led to its rebranding as Terra Classic (LUNC), the cryptocurrency continues to pique the interest of numerous investors and traders.

Terra Classic Price Analysis: Amid the highly volatile market phase, the LUNC price remained in a sideways trend over the past two weeks. However, the daily chart shows this consolidation was restricted within two converging trendlines indicating the formation of an inverted pennant pattern.

Terra Classic core developer team Joint L1 Task Force (L1TF) announces plans to work on TerraClassicUSD (USTC) repeg to $1 after completing the CosmWasm v1.1.0 parity upgrade. The L1TF with work with the USTC repeg team to set up a USTC test environment to focus on building the infrastructure required to successfully repeg USTC to

Terra Classic is set to undergo a network upgrade, which would alter the burn tax rate. The Terra Classic (LUNC) network upgrade is expected to take place at the Terra Classic block height of 12,902,400, or approximately on May 23 at 10:00 p.m.

LUNC Price Analysis: A down-slopping trendline (yellow) governs the ongoing downtrend in Terra Classic (LUNC) price. Starting from the peak value of $0.000211 on Feb 3rd, the coin's price dropped by a substantial 58.3% to reach the current price of $0.000087.

The Terra Classic developer Joint L1 Task Force (L1TF) successfully completed the v2.0.1 upgrade without any issues. Joint L1 Task Force developer group were joined by key members including core developer Edward Kim, programmer Fragwuerdig, and PFC Validator.