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The price of the Terra Classic (LUNC) cryptocurrency surged once Binance posted a positive tweet. LUNC price dropped to $0.000179 just one day ago, but today it recovered to $0.00029.
Now crypto enthusiasts are eager to see what the price of Terra Classic will be. Will it continue to rise or fall? Read on to learn more.
Which way is the price headed?
The sentiment surrounding Terra Classic has turned from negative to positive after Binance CEO CZ Binance released some surprisingly significant information on Twitter. Binance, a popular centralized cryptocurrency exchange, has now made a formal announcement that it is in full support of the Terra Classic burning method, which helps reduce the total token supply.
In particular, it is noteworthy that the CEO of Binance announced that the company will start burning all trading fees earned on the LUNC/USDT and LUNC/BUSD margin and trading pairs on Binance. This news adds to the intense curiosity surrounding Binance.
» To implement Binance Terra Classic (LUNC) Burn Mechanism
Quick thread below on what we’re doing and why.https://t.co/b86RlCGPmv
– CZ ? Binance (@cz_binance) September 26, 2022
The transaction cost is first converted to a LUNC before being moved to the burn address. This shows that Binance is responsible for paying the fees rather than the users of the platform.
This single piece of news alone could create enough excitement and positive momentum to push Terra Classic’s price above the significant resistance mark currently sitting at $0.000362.
Note that Binance is currently the only exchange where LUNC can be purchased; Be on the lookout for further developments in this space as every LUNC-related activity on Binance adds to the total number of LUNC tokens burned.
Looking at Terra Classic from a technical point of view
From a technical analysis perspective, Terra Classic is moving at an impressive pace and has quickly moved from the oversold range to the overbought range on the 4-hour relative strength index.
Terra Classic had a strong rebound and broke the lost support levels at $0.00022, $0.00025 and $0.000264. Currently, the cryptocurrency is trying to bounce back above $0.000335 and $0.000362.
It is very easy to see that the bulls are in a strong position in the market due to the price breach at the upper level of the Bollinger Bands as well.
Due to the overbought condition, there is a possibility of a price reversal following the broad market euphoria in the Terra Classic area. The price of Terra Classic increased by more than 66% in the last day as a direct result of positive developments in the cryptocurrency.
In the short term, it can be assumed that the price of Tera Classic, which is at $0.000292 at $0.000292 and the 0.382 Fibonacci level, will come back up to the 0.236 Fibonacci level.
Buy LUNC on Binance
Your capital is at risk.
Fire Terra Classic Delivery.
After today’s news from Binance, the community behind Terra Classic has regained its previous level of brilliance. Keep in mind that Terra Classic is a community-based token and its price movement may depend on the sentiment of Terra Classic owners at any given time. This is one important thing to remember.
According to reports from Terrarity, the Terra Classic Token community has managed to burn 4,245,661,335 of its own tokens, which currently accounts for 0.08% of the total amount in circulation. The bullishness about Terra Classic has recently increased due to the integration of the tax method that is burning on the Binance market.
Is there a more profitable investment than Terra Classic?
After the huge wave of excitement for the terra classic cryptocurrency, many investors are no doubt experiencing what analysts like to call “FOMO”, which stands for “fear of missing out”.
If you missed out on the Terra Classic rally, the cryptocurrency market offers another chance with Tamadogge, which may have similar results. If you feel like you missed it, you can find a white paper on Tamadoge on their website.
After an incredibly successful pre-sale that brought in over $19 million, Tamadoge investors are expecting a significant pump in price when the cryptocurrency exchange goes live on the OKX exchange tomorrow at 12pm.
If you are interested in participating in Tamadoge and perhaps want to add TAMA to your portfolio, you can join an account on the OKX exchange, which will give you a chance to win $10,000 in prizes. If you do this, you will be part of the competition.
Why Tamadog?
Tamadogge has the potential to be one of the next 10 meme coins because it is idiosyncratic in nature, has proven to have a lot of utility, offers an immersive gaming experience with game-to-earn and augmented reality experiences, and has a low supply of 2 billion. Don’t forget the fact that you can produce your own awesome Doge NFTs and that this token has been heavily discounted so far. So, if you are an opportunistic investor, now is the right time to invest in Tamadoge, which has the potential to deliver 10x returns in the future.
Tamadoge – Meme Play to earn coins
- Get TAMA in battles with Doge’s pets
- Sealed Supply of 2 Billion, Token Burn
- Presale collected 19 million dollars in less than two months
- The upcoming ICO on the OKX exchange
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