LUNC Price Reaches Critical Level Due to Accelerated Burning Process
Date: 2025-04-03 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
Despite active token burns, the price of LUNC continues to decline. According to LUNC Metrics, over 727 million tokens were withdrawn from circulation over the past week. The total volume of tokens burned since their issuance now exceeds 407 billion.
The largest portion of tokens burned this week (over 211 million) were destroyed by Luna Foundation Guard on Wednesday. In addition, over 1.7 billion TerraClassic USD tokens were liquidated.
Technical analysis shows that since January 19, Terra Luna Classic has remained below the 50-day moving average and the descending trend line that connects local highs. This forms a descending triangle, a pattern that confirms the continuation of the bearish trend.
The probability of further decline will increase if the price breaks the horizontal support level set at the minimum value since July 2024. In case of a break of this barrier, LUNC may fall to the next important support located at $0.000047, which is 22% below the current value.
