LUNC Breaks Falling Wedge, Signaling a Potential To The Moon Move Soon

• LUNC breaks a Falling Wedge pattern, signaling a potential upward surge in the near future.
• Community efforts to burn USTC and increase burn taxes could drive long-term rewards for Terra Luna Classic stakers.

Terra Luna Classic (LUNC) has breakout a Falling Wedge pattern, which is a common precursor to major price increases. In a tweet, popular crypto analyst Javon Marks says this technical action might cause LUNC to soaring like fireworks. Marks argues that similar trends have historically shown themselves, causing thousands of percent price surges.

Not too many words for $LUNC (Terra Classic) at the moment besides 'prepare for fireworks' … https://t.co/bQaSZKNy8i pic.twitter.com/MDJJ3KcN6s

— JAVONMARKS (@JavonTM1) October 19, 2024

LUNC Gains Momentum as Trading Activity Rises Significantly

Meanwhile, LUNC is trading about $0.00009193 as of writing, a 1.36% rise over the last 24 hours. Daily trade volume has also jumped by 88.63%, coming to $21.21 million. This increase in volume and price supports even more the idea that LUNC is gathering momentum, hence maybe paving the path for more increases.

Both traders and investors should pay close attention to the technical signs mixed with increasing trading activity since they suggest LUNC might be about to have a more significant breakout.

Developmentally, the surroundings of LUNC have been changing as well. As we previously reported, a key participant in the Terra Luna Classic network, Orbit Labs, recently suggested eliminating forked versions of Cosmos modules and substituting the standard upstream modules.

The corporation says that the present configuration is expensive and that this adjustment might provide the network with much-needed efficiency. Orbit Labs also supports a fresh idea to move transaction taxes from the sender to the recipient.

This, they contend, might make transactions less complicated and more user-friendly, therefore drawing more people to the network.

Beside that, the LUNC community has also been thrilled by the recent burning of 726 million USTC from Anchor Protocol, according to CNF. Though there is little trading volume, this action has spurred expectations for a price rise.

Together with these initiatives, there is rising conversation about raising the burn tax to 1.5%. Such a change might speed up the token burn process and provide long-term staking incentives inside the Terra Luna Classic ecosystem.