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Someone Asked about LUNC (LUNA Classic)
You guys were aware of the Luna crash, due to that the Terra governance proposed to rename the existing network Terra Classic, LUNA Classic (LUNC), and rebirth a new Terra blockchain & LUNA (LUNA) that was live.
We were aware that majority voted for the rebirth, Now According to the governance proposal the LUNA and UST on the original chain will be renamed as LUNC and USTC respectively. The new chain’s native mining token will be LUNA, and there will be no Terra stablecoins on the new chain. Gate. io and other exchanges are supporting the rebirth. LUNA will be changed to LUNC and UST to USTC.
The only good new I have for LUNC holders right now is that the LUNA new chain will be distributed to eligible holder of LUNC.
Technically on the 1hour Chat of LUNCUSDT on gate. io price is trading in between the major support a range resistance(0.0002209) area. It appears that the RSI (14) is indicating 13.26% which is highly oversold.
I will be looking for a buy set up at the major support, but if it breakout below the major support. It's may be dangerous for the holders cus I don't see any support below.
Well just my thoughts!!!
Remember to always follow your trading plan regarding entry, risk and trade management.