Michaël van de Poppe, a senior crypto analyst and trader, shared his predictions for the Terra Classic (LUNC) price as positive developments improve the token’s ecosystem. This price prediction comes after LUNC claimed a few weeks ago that it might not reach the $1 level.
Thinking that LUNC will never reach the price of $1, Michaël van de Poppe expressed his short-term bullish sentiment for the token. brought. The analyst said that if LUNC price breaks the $0.00036 resistance level, it could move towards the $0.0045 mark. The popular trader thinks that certain supports or price zones need to be held first for the LUNC uptrend to continue:
“This altcoin is showing strength as there is another breakout.
Currently breaking into resistance and converting resistance to support = long position zone.
Otherwise, I would be looking for a long position of around $0.0003 for a potential game.
If $0.00036 breaks, then I assume we will see $0.00045.”
At the time of this writing, Terra Classic (LUNC), ranked 31st by market cap, is trading at $0.00032. The analyst’s target of $0.00045 represents an increase of about 40% from the current price.
Koinfinans.com It is worth noting that at the end of August, as we reported, Van de Poppe expressed his belief that the altcoin will never reach the $1 price target set by the community.
However, van de Poppe’s sentiments did not deter the LUNC community. Since then, notable LUNC support has come from Binance as the LUNC community has implemented a 1.2% tax burn on all transactions. The goal is to reduce the overall token supply from 6.9 trillion to an ambitious 10 billion LUNC.
TerRarity.io data shows that the tax burned about 3.4 billion LUNC in a week.
While data on the highly anticipated Binance burn has yet to be released, the expectation has caused the token price to rise significantly over the weekend, even as the overall market shows minimal gains.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.