© Reuters
Investing.com – The community maintains its goal of restoring the token that sank with the blockchain meltdown. The most important element of the long-term tactic is to burn most of the tokens in circulation.
To do this, a special tax of 1.2% is levied on each transaction, but it is necessary for cryptocurrency exchanges to implement this feature. Another problem is that the number of cryptocurrency exchanges having Terra Classic in their program decreased after the blockchain crash.
Faced with this, an online petition has been launched to convince Robinhood Markets Inc (NASDAQ:) that it is a good idea to list Terra Classic on its own platform. A similar approach has already paid off with the community, as after garnering over 500,000 signatures, Robinhood gave in to the insistence.
Helping the LUNC get listed this way should be a bigger challenge, because so far the number of signatures is less than 4000.
Terra Classic: technical benchmarks
The LUNC/USD is currently losing -0.54% at a price of 0.0002634 dollars, while the weekly loss is -12.67%.
Last Friday, the daily close was below the 61.8% Fibo retracement of $0.0002775. Since then, trading has been continuously taking place below the former support, which now offers immediate resistance.
While this is the case, expect further losses towards the psychological mark of $0.0002000 at any time. This support is reinforced by the 78.6% Fibo retracement of $0.0001921.
Only if the 61.8% Fibo retracement can be recaptured sustainably will focus shift to the next resistance, namely the 50% Fibo retracement at $0.0003375.
By Marco Oehrl