- Terra Classic’s market capitalization was about to reach 1 billion
- LUNC indicators and metrics were supportive of higher prices
Classic Earth [LUNC] has recently seen promising growth as its price has risen by more than 8% in the last 24 hours. Growth hinted that the end of this month could be rewarding for investors.
According CoinMarketCap, at press time, LUNC was trading at $0.0001661. Moreover, with the increase in the price of LUNC, its market capitalization was also reconstituting as it was on the verge of crossing the $1 billion mark.
Lily Terra Classic’s [LUNC] Price prediction 2023-2024
Interestingly, LUNC was also on the list of top trending projects on CoinMarketCap, which was good news as it represented the popularity of the token in the crypto community.
🔥Most trending projects on @CoinMarketCap Community last 24h📊
— CryptoInsights (@CryptoInsightsX) November 22, 2022
Another positive piece of information was revealed by WhalesClub, a popular Twitter account, as LUNC took the top spot in terms of market volume.
$LUNC #1 By market volume
Top Cosmos Ecosystem Coins by Market Volume
— WhalesClubs 🌓™ 𖣴 (@WhalesClubs) November 22, 2022
The pump could continue because…
A glance MONThe on-chain metrics also suggest that the good work should continue. LUNC development activity increased over the past week, which was a positive signal for a blockchain. The volume also followed a similar route and saw a slight uptick over the past few days.
Not only that, but LUNC’s recent burn rate also looked pretty promising. As of November 23, 2022, over 28 billion tokens have been burned. This represented nearly 0.4% of LUNC’s total available supply.
— LunaClassicHQ 🌕™ (@LunaClassicHQ) November 22, 2022
Towards better prospects…
MONThe daily chart also looked bullish as several market indicators supported a new uptrend. For example, the Moving Average Convergence Divergence (MACD) has displayed a continued struggle between bulls and bears, creating an opportunity for a bullish crossover soon.
In addition, the Relative Strength Index (RSI), after touching the oversold zone, recorded a slight increase. This could help pump up the price of LUNC in the coming days. LUNC’s Chaikin Money Flow (CMF) has also seen a rise, further increasing the chances of a price rally.
However, the exponential moving average (EMA) ribbon revealed that the bears still have a huge advantage in the market, which could be cause for concern.