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Investing.com – Ever since the community decided to introduce additional transaction fees for token burning, Terra Classic has steadily climbed.
Although major cryptocurrency exchanges announced that they would no longer support trading due to technical challenges, this did not halt the rally.
In the past 24 hours, the price has risen again by more than 50 percent, which has allowed this token, which was thought to be dead, to re-enter the top 30 of major cryptocurrencies. At $0.0005812, the market capitalization reached $3.5 billion. The trading volume stands at $3.65 billion, which seems to be a sign of the community’s commitment.
The Binance crypto exchange recorded a trading volume of more than $1.5 billion, which is why the platform decided to add a new trading pair. From September 9, it will be possible to trade LUNC/USDT. Additionally, a LUNC-based futures product with a leverage of 1:25 is also expected to see the light of day.
LUNC has also reached another milestone, as it was listed on a decentralized crypto exchange (DEX) for the first time. The Saitama Pro DEX today announced that the cryptocurrency is now available for negotiation :
“HOT NEWS: We are happy to announce that $LUNC (LUNA CLASSIC) is now listed on #SaitaPro, the very first DEX”.
Terra Classic technical course markers
After Tuesday’s correction, the rally has continued and is now meeting resistance at the 138.2 percent Fibo expansion of $0.0005887.
If the bulls manage to break above this zone, the next resistances will be at the 150% Fibo extension of $0.0006318 and the 161.8% Fibo extension of $0.0006750. Beyond that, room increases for an extension of the rally towards the 200% Fibo extension of $0.0008147.
On the other side, there is support with the psychological level of $0.0005000, followed by yesterday’s high at $0.0004866 and Tuesday’s high at $0.0004496.
By Marco Oehrl