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- 1 The Development in the LUNC chart displays a healthy advancement in developer activity as commits are changing over time.
- 2 The LUNC crypto asset exhibits strong upward momentum and bullish tendency as it sustains above major 20, and 50-Day EMA bands.
The Lunc crypto’s total value locked (TVL), which is the staked or locked value on the chain, has been surging since February of 2024. The rise in TVL in Terra classic crypto over time reflects the changing dynamics of market participation, the increase in the demand for the LUNC project, and the increase in investors’ willingness to stay invested.
According to recent reports, when the total value locked (TVL) in the Defilama platform increased, it had a positive impact on the confidence in LUNC. This increase in TVL also led to an increase in the liquidity, popularity, and usability of Terra Classic. Essentially, a higher TVL makes LUNC a more reliable and less risky asset. As per Defilama, the total TVL is currently $4.64 Million.
Source: TVL By defilama(dot)com
Moreover, the Development in LUNC displays healthy advancement in its developer activity as commits are changing over time, and the number of developers’ activity has also increased. The developer’s activity is at 4.59 and the commits count is at 3, this has exhibited sustained growth in the span of the last three months.
Turning to, the social dominance of Terra Classic, as seen through metrics such as X (formerly Twitter) LUNC news, X followers and social volume (including active users of Telegram and X), is showing a positive trend. Additionally, there has been a significant increase in the number of active users and X chatter. These metrics indicate that Terra Classic is gaining popularity.
The increasing number of tweets mentioning Terra Classic highlights its growth and shows that it has been among the trending tokens in recent times.
Moreover, the number of tweeter followers (7D) of LUNC that is surging could be due to any recent development causing its followers to boost. Social media acts as a major direct source to give limelight to the crypto projects and Terra Classic seems to be rising in its social dominance, volume, and followers.
In addition, this chart exhibits the contrast between the volatility with the LUNC price movement in the terra classic crypto. On examination, it shows that the LUNC crypto has witnessed wonderful growth in recent sessions and the volatility rose with it. Volatility has declined significantly and the price is trying to sustain, illustrating stability.
Likewise, the crypto seems comfortable at current price levels and suggests that the sellers are sitting in the rear, and the bulls are in the driving seat which may assist the crypto price to rise further.
Terra Classic Price Analysis Over The Daily Time Frame
The LUNC crypto asset exhibits strong upward momentum and bullish tendency as it sustains above major 20, and 50-Day EMA bands. The price action shows that it has been getting ready and aims to cross it for higher price levels.
Moreover, major reliable indicator tools for the LUNC token illustrate bullish strength as MACD exhibits a bullish cross over the zero line with a broadening histogram. MACD line is at 0.0000196, the signal line is at 0.00001769, and the histogram is at 0.000001944.
The RSI is above 50 at the 68.48 level and implies that the LUNC crypto asset can push further for more upside in the coming sessions after some consolidation in price, which means taking a timewise halt in the ascent.
On examining the day chart, the Terra Classic exhibits bullish characteristics and illustrates that it can surge further in the upcoming sessions. At the time of publishing, the crypto experienced a surge of 1.37% in the last 24 hours, trading at $0.000190885.
If the demand for the LUNC price remains high, then the next goal for the price could be to reach $0.0003500, $0.0002800 is the likely resistance level. However, if the crypto price fails to surge and slips past the $0.0001500 level, it could decline further.
Summary
The Lunc crypto’s total value locked (TVL), has been surging since February of 2024. This increase in TVL also led to an increase in the liquidity, popularity, and usability of Terra Classic. Moreover, the Development in LUNC displays healthy advancement in its developer activity as commits are changing over time, and the number of developers’ activity has also increased.
Correspondingly, there has been an increase in social dominance, volume, and followers. The volatility has decreased much and the price is trying to sustain, illustrating stability in the price and hopes are reviving for its ascent.
The daily chart shows that Terra Classic exhibits bullish characteristics and that it could surge further in the upcoming sessions. Above all, major reliable indicator tools for the LUNC token illustrate bullish strength.
Therefore, if the demand for the LUNC price remains high, then the next goal for the price could be to reach $0.0003500, with resistance from $0.0002800.
Technical Levels
Support Levels: $0.0001500
Resistance Levels: $0.0002800
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
