- A new proposal to reverse the community’s transfer of 50% of LUNC burns to a community development pool is put to a vote.
- All day long, bulls in LUNC have been in command.
- Technical signs indicate that bulls’ strength is still robust, indicating that a protracted bull run is possible.
The community is voting on a new proposal that would rescind a decision to transfer 50% of all LUNC burns to a community development pool, which has sparked a rally in Terra Classic and pushed LUNC prices up by 6.40% in the last 24 hours to $0.0001455. This latest proposal is likely to be approved, lending credence to forecasts that LUNC supplies will fall precipitously in the coming years.
As a consequence of the recent price gain, the total market capitalization of LUNC has gone up by 6.10%, to $868,369,370, and the trading volume has gone up by 3.01%, to $97,377,113.
The Arnaud Legoux moving average (ALMA) follows the rising trend of the market. Conversely, if the price and ALMA are both rising at the same moment, a breakout or reversal is signaled when the price breaks above the ALMA. Since the market price is trending higher than ALMA’s reading of 0.00014476, as shown on the LUNC 4-hour pricing, traders should be cautious.
On the 2-hour price chart, a bullish engulfing candlestick has formed, indicating that the current bullish trend will continue. The widening Bollinger bands, which indicate rising market volatility, lend support to this theory. The upper band approaches 0.00014755, while the lower bands reach 0.00013176. This optimistic view is supported by the fact that the price is moving up toward the upper band.
A higher TRIX score denotes greater momentum, while a lower TRIX score denotes less momentum. Because the TRIX is at 18.44, investors believe that bulls will maintain market dominance for the foreseeable future. The price of LUNC is expected to continue rising since this TRIX value is above the zero line, which is a buy signal.
If LUNC prices are to rise, bulls need to apply more pressure to break the $0.0001463 resistance level. If bulls fail to hold this level, however, bears may grab market control and push prices down, potentially testing or breaking the $0.0001367 support level.
To sum up, for the LUNC trading pattern to stay bullish, the bulls must keep control of the resistance level and push prices higher.
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