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CZ Binance Tweet Skyrockets Terra Classic’s (LUNC) Price: Where Will the Price Head from Here?

Binance founder CZ

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The price of cryptocurrency Terra Classic (LUNC) is skyrocketing again after Binance sends a positive tweet. Just the day before, the price of LUNC had dropped to $0.000179, but today it has risen all the way to $0.00029.

Now, crypto enthusiasts are eager to see what happens to the price of Terra Classic. Will it continue to rise or fall? Read more to learn more.

Which way is the price going?

After Binance CEO CZ Binance posted some incredibly important information on Twitter, Terra Classic’s attitude has changed from negative to positive. Binance, a major centralized cryptocurrency exchange, has made an official announcement that it now fully supports the Terra Classic burning mechanism, which helps reduce the total supply of the token.

It is particularly intriguing that Binance’s CEO has also stated that the company would begin burning all commissions earned from LUNC/USDT and LUNC/BUSD margin and spot trading pairs on Binance. This news adds to the already high level of curiosity about Binance.

Transaction costs are first converted to LUNC before being transferred to the burning address. This shows that Binance is responsible for paying the fees instead of the users of the platform.

This single piece of news could generate enough excitement and positive momentum on its own to push the price of Terra Classic back above a major resistance mark, which is now set at $0.000362.

Remember that Binance is now the only exchange where LUNC can be bought; Watch out for the further development of this mode, as each LUNC operation on Binance increases the number of LUNC tokens burned.

Observing Terra Classic from a technical point of view

From a technical analysis perspective, Terra Classic is moving incredibly fast and has quickly moved from oversold to overbought territory in the 4-hour relative strength index.

Terra Classic made a strong comeback, breaking through lost support levels at $0.00022, $0.00025 and $0.000264. Currently, the cryptocurrency is trying to recover above $0.000335 and $0.000362.

Also, as a result of price breaking through the upper level of the Bollinger bands, it is quite simple to see that the bulls are once again firmly in control of the market.

As a result of the overbought situation, it is possible that as a result of the widespread market excitement around Terra Classic, the price will fall. The price of Terra Classic has increased by more than 66% in the last day as a direct result of the positive development of cryptocurrencies.

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In the short term, it is possible to foresee a downward regression of the price of Terra Classic to the 0.236 Fibonacci level located at $0.000292 and the 0.382 Fibonacci level located at $0.00027.

Buy LUNC on Binance

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Burning Terra Classic

Following today’s Binance news, the community behind Terra Classic has returned to its former optimism. Remember that Terra Classic is a community-based token and that price change may depend on the mood of Terra Classic holders at any given time. This is one important factor that you need to keep in mind.

Terrarity reports that the Terra Classic token community has now been able to burn 4,245,661,335 of its own tokens, which is about 0.08% of the total in circulation. Terra Classic’s bullish sentiment has taken a significant leap forward as the burning tax mechanism has recently been integrated into the Binance market.

Is there any other more profitable investment than Terra Classic?

After this big wave of ecstatic impulse for Terra Classic cryptocurrency, many investors are undoubtedly going through what analysts like to call “FOMO”, which means “fear of missing out”.

If you missed Terra Classic’s rally, the cryptocurrency market offers another opportunity with Tamadoge, which may have comparable results. If you feel like you missed out, you might find a Tamadoge guide on their website.

After an incredibly successful pre-sale that brought in over $19 million, Tamadog investors are expecting a significant price pump when the cryptocurrency goes live on the OKX exchange tomorrow at 12:00 PM British Summer Time.

If you are interested in participating in Tamadoge and perhaps adding TAMA to your portfolio, you can join an account on the OKX exchange, which will also participate in a prize draw where you can win $10,000. If you do this, you are entered into the competition.

Why Tamadog?

Tamadoge can make it to the next top ten meme coins because it is deflationary in nature, has proven to be very profitable, offers an immersive gaming experience as well as gaming for earning and augmented reality experiences, and has a low supply of 2 billion. Don’t overlook the fact that you can also mint your own amazing Doge NFTs and that this token is heavily discounted for now. So, if you are an opportunistic investor, the timing is perfect for you to invest in Tamadoge, which can offer 10x profits in the future.

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