LUNC Sees Relief Rally: Can SAPP, ROSE, FLR, PYTH and GMR Follow Suit?

• Terra Classic (LUNC) surges 11.65% to $0.0001139 after Binance’s token burn, signaling a bullish trend.
• Flare (FLR) shows a robust 13.54% price increase, while Pyth Network (PYTH) experiences modest gains of 1.17%.
• Sapphire (SAPP) and Oasis Network (ROSE) face minor declines, contrasting with Gamercoin (GMR) rising by 3.55%.

The cryptocurrency market has recently witnessed a significant shift in momentum, with Terra Classic (LUNC) at the forefront of this change. The digital asset found support at the $0.00009 level, leading to a remarkable, bullish double-bottom pattern that broke through the $0.0001 resistance. 

This movement aligns with a broader altcoin market experiencing a much-needed relief rally, raising questions about the potential impact on other cryptocurrencies such as Sapphire, Oasis Network, Flare, Pyth Network, and Gamercoin.

LUNCUSD Technical Analysis

Despite the positive trajectory, Terra Classic faces challenges in maintaining its price, hinting at the possibility of a false breakdown and an extended correction phase. However, the breakout from the downward trendline signals a fresh opportunity for recovery. 

The altcoin’s ability to hold above the flipped support at $0.0001 is crucial for confirming its readiness for a higher rally. At press time, LUNC was trading at $0.0001139, an 11.65% surge from the intra-day low. In addition, LUNC market capitalization and 24-hour trading volume surged by 11.45% and 4.56% to $652,768,164 and $171,541,381, respectively.

The recent performance of Terra Classic can be attributed to several external factors, including Binance’s decision to burn 5.57 billion LUNC tokens. This move contributed to the price surpassing the key resistance level of $0.000103, hinting at a stronger recovery trend fueled by buyer interest. The nearly 1000% spike in trading volume post-breakout underscores the market’s optimism toward Terra Classic’s upward trajectory.

SAPP, ROSE, FLR, PYTH, GMR Price Trend

Sapphire (SAPP), currently trading at $0.008737, has experienced a 6.46% decrease in its value over the last 24 hours. Similarly, Oasis Network’s (ROSE) price, at $0.1131, reflects a 1.93% decline in the same timeframe. The 24-hour trading volume of Oasis Network soared by 5.50% to $78,099,210.

Moreover, Flare’s current price at $0.031777 and a 13.54% increase suggest a positive market sentiment and potential growth trajectory. This contrasts with Pyth Network, which, despite a modest 1.17% increase, has its price set at $0.497802. Pyth Network’s market cap dipped by 0.93% to $745,882,820, while the 24-hour trading volume dropped by 40.25% to $102,231,693, respectively.

Aligning with the uptrend, Gamercoin (GMR) is trading at $0.006248 and has seen a 3.55% increase from its 24-hour low. Concurrently, GMR’s 24-hour trading volume surged by 6.30% to $75,906.