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LUNC - Phoenix rising?TA Technical Analysis Ascending from the Abyss: Technical Outlook on Luna Classic's Potential Rebound? Upon a closer examination of the Luna Classic (LUNC) chart, it initially presents itself as a daunting challenge, given its drastic price drop. Yet, further analysis reveals underlying potential for significant recovery, reminiscent of a phoenix rising from the ashes. The key lies in the coin rebounding to at least $1, a target that seems achievable under certain conditions. Technically, LUNC appears to be in a Level 2 phase on a weekly scale, suggesting an upward trend beyond the previous high of $0.00027967. Notably, there are two weekly Fair Value Gaps (FVGs) around 0.00009098 and 0.00006009. These FVGs represent attractive buying opportunities. Should the price action fall to the lowest FVG at 0.00006009, it would invalidate the Level 2 hypothesis. Optimistically, the FVG near 0.00009098 seems the most probable reversal point. The bullish stance on LUNC is influenced by: Presence of liquidity at the higher range of $65.00 to $76.88. Fundamental aspects and developments of the project. This hypothesis, while ambitious, holds promise, especially considering the potential upside of a modest investment in LUNC, combined with the ongoing coin burn and reinvestment strategies. Fundamentals Point of View Luna Classic's Odyssey: Navigating Through Turbulence to Revival? The story of Luna Classic (LUNC) is a tumultuous one. After reaching its all-time high, LUNC faced a catastrophic crash, primarily due to the failure of its sister stablecoin, TerraUSD (UST), to maintain its peg to the US dollar. This collapse was partly attributed to the inherent vulnerabilities in the algorithmic mechanism designed to stabilize UST's value. As UST devalued, it triggered an oversupply of LUNC, leading to hyperinflation and a dramatic price collapse. The situation worsened when significant market players, including Terraform Labs co-founder Do Kwon, were implicated in legal controversies following the crash. South Korean authorities issued a warrant for Kwon's arrest, charging him with multiple financial frauds. Despite these challenges, the community around Luna Classic has been working tirelessly to revive the project. Efforts include the implementation of a burn mechanism to reduce the hyperinflated supply of LUNC and strategic investments to stabilize and increase its value. These community-driven initiatives have shown resilience, although the road to recovery remains steep. As of the latest updates, the project continues its recovery efforts with considerable community support. However, reaching a price of $1 per LUNC, although appears highly ambitious, given the coin's current market dynamics and the broader challenges in the cryptocurrency market, I believe it is worth the risk to purchase several million (around $500 USD worth) based on a target of $1.
by Market-Pip-Factory
LUNA CLASSIC > SHIB: The Rise And Fall Of Pump & Dump Sh!tcoinsHello good morning my fellow traders. I show in the chart above how LUNA and SHIB have almost identical chart patterns. Fractals aren't always perfect but when comparing two different pump and dump hype coins then they usually rhyme. All this little news and crap coming out for LUNA is the same type of crap that was coming out when SHIB had reached its peak and began falling. Dont believe me then go to google and type in Shiba Inu and look at the news back in 2021 when Shib topped out. This price manipulation with LUNA so CZ or other big holders can dump their holdings on millionaire dreamers and recoup their losses is disgusting. Please people for the love of god don't fall for this scam that has been happening over and over again in crypto with hundreds upon hundreds of pump and dumps throughout the years, and Ive been in crypto since 2015. They all end the same, a slow bleed out all the way back down to previous lows. When LUNA gets back down to .00004 then sure maybe buy a few and hope for a nice dead cat bounce at some point in the future. For now LUNA has finished its run and has topped out, its on its way back down to where it started this run, and it will take a little while for it to bleed out, especially with how many are staked and how long it takes to un-stake, and how many fools are hodling in hopes of striking it rich. I used to think that LUNA would do something good with all the "fake" positive news it had in the beginning before the run started, but I have since changed my view on it. The supply is just too high, and none of the current burns will bring the supply down for shit, I explain with the math how long it will take to burn 90 percent of LUNA in my previous post, more than 10 years. Also the community has turned into a bunch of obnoxious crybaby thugs trying to force exchanges to burn coins, its a terrible look. Plus UST is still de pegged and never will be pegged again. Algorithmic stable coins are banned anyways. I would put in a short and ride this thing all the way to bottom cause thats where its headed. There is way too many people out there holding way to many LUNA for it to ever go to a dollar. When the majority are saying that a coin will 1000x then it will not do that, it will instead to the opposite. When SHIB holders became millionaires they bought when there wasn't any hype. They weren't screaming 1000x SHIB from he rooftops before it went on its parabolic rise, they bought when no one was talking about it. Then it had its rise and those holders became millionaires. Then once it had its rise, the 1000x SHIB hype started, and millions of people got on board only to be disappointed. The hype period of SHIB was not when millionaires were made, it was instead the end of the massive rally up. The hype was created so there would be enough liquidity so the early early adopters/holders could dump their SHIB and turn their unrealized gains into real profits at the top. Without the hype period at the top in SHIB, none of those holders would have ever become millionaires, simply because there wasn't anyone to buy them regardless of the price before that. Get it now? This is where LUNA is at the moment the massive hype cycle so smart money can dump their bags on the little guy with the dream of becoming a millionaire. Plus it doesn't help that every you tuber and their mother is saying $1 LUNA simply to get clicks, subscribers, and likes, and the majority of those you tubers know exactly what is happening but they are lying to you so you sub to their channel. Most of those youtubers only have a hundred or so dollars invested in LUNA, they said so. If they really believed the crap they are spreading don't you think they would invest as much as they can, or even a few grand? If I truly believed something would 1000x then i would sell everything I own, I would search the cracks in the couches for change, and get a personal loan and go all in. They don't do that because they don't actually believe it, they just want your clicks. People need to wake up from this fantasy world they are living in with this LUNA crap. $1 $.10 or even $.01 will never happen, EVER! LUNA will never be touched by any financial institution or any big money since its crash, unless they plan to pump and dump it for a quick Billion dollars. CZ of Binance manipulated LUNA just right so he could recoup his almost 2 billion in LUNA losses from the crash. Hes probably made 5x that by now, why do you think hes fine with burning $4 Million dollars in fees every day? Cause hes making hundreds of millions of dollars daily pumping and dumping this thing on your faces. Hes the conductor of this hype train, and hes about to jump off and let the train crash and burn. I wouldn't be surprised if CZ came out when LUNA bottoms to its previous low and says something to give this thing a dead cat bounce up another 500% and cause a mini hype rally and steal another quick billion from some fresh morons. Anyways thats my rant on all this crap. This is not trading or financial advice, this is just my opinions and speculations. Thank you and I hope you all have an amazing day.
Short
by Bitgolder
10
Lots of bullish arguments happening on the 4 hour chartAfter the bullish run we are not having what seems to be a bullish consolidation happening on the 4 hour. First we have the bull pennant formed. The supply line of that said bull pennant just so happens to be the breakout line of a bullish dragon. When ever dragons appear you more than likely will find a harmonic pattern. In the case of Luna Classic we have a gartley harmonic pattern showing if the dragon and bull pennant breaks to the upside. Also we have a bearish 3 line strike that just appeared on the last candle close. For those that don't know the 3 line strike pattern is a reversal pattern, so a bearish one actually means its going to be a bullish reversal. The RSI and MACD are both showing hidden bullish divergence. Which calls for a continuation to the upside.
Long
by bitcorns-trader
LUNA CLASSIC: DONT F***ING SELLI know I said I would be suspicious of a luna pump, but F* what I said. I just discovered the proposed 1.2% transaction burn plan 15 minutes before writing this, then LUNC broke out faster than I could put my underwear back on, so here I am. I'm not sure what will happen here, guys, but I looked up what the Fibonacci tool does on youtube, and I made what might be the best technical analysis you will ever read. This breakout is most likely one of those big temporary spikes, so all I'll say is: be smart. The bright purple line measures the exact distance it took from the pre 0.00018 pump to reach its lowest low before the 0.0018 pump, and we went slightly past it, and that was the point I was sure luna was over for a while, but Mmm No NNoNoNoNo! From that, our lowest possible support is 0.000050, before the cards come crashing down again. Next, we have 0.000058, then 0.000062, 0.000065, and finally: 0.00007. It all depends on how fast we break through and how long we stay above these levels. Slow and steady is good; otherwise, I hope you're good at blackjack if we smack through each one quickly. We know that there will be a burn mechanism in place, and If we can somehow burn at least 5.5 trillion LUNC tokens in my lifetime, you are reading from a future trillionaire. Green or Red, your choice :)
by Masterolive
2
Luna Classic: K.O. (or is it?)This fight was so worth the ticket price. LUNC bled all day despite BTCs manipulated recovery today, which signals to me that we are continuing a downward trend if we break through 0.00006194 and fail retests. I'll be very suspicious of any sideways or slow uptrend movement around this time. A moon shot is the only thing we want to see; otherwise, don't get baited. Is luna over? Nah. I anticipate another event in the future due to the meme potential, especially with that shit show of a shit coin Luna 2.0, but it's unlikely we will reach 0.0004 again. Similar to how predictable the pumps were initially, I'm starting to recognize the opposite with the dumps, so I dare you to scalp. Keep your eye on LUNC and watch for a long sideways flat line once these dumps calm down, and I mean a full week-month of flat, like, "It's dead" flat. Depending on the market conditions, It might be worth reloading some bags for another show; after all, Dukwon is a "genius," and this story is not over. I have new predictions mapped out. Good luck!
by Masterolive
Luna Classic: But this ship cant sink!I want to give everyone free-falling with me a big pat on the back because my parachute won't work. Things weren't looking so strong yesterday, and that LUNC 2x4 just snapped at the weight of BTC's dump hitting the floor, and I don't want to think of the costs of repairing that hole. We crashed into a critical support line from the most recent low before the 000.18 pumps, indicated by the thick iceberg blue line, and my job is to keep playing music while you all run for the lifeboats. On the other hand, congratulations if you got in your shorts, and tell my mom I love her. I have mapped out new predictions, and fib retracement is weighted down.
by Masterolive
Luna Classic: Eating WaterThat dummy thick drop was heard around the whole damn world, wtf guys!? Since my last post, kucoin has enabled futures on LUNC, so I can start hedging again! Both LUNA and LUNC dropped the bass, and you probably got liquidated if you're reading this. #MeToo Shits getting wild yall, JPMorgan Chase CEO Jamie Dimon says he is preparing the biggest U.S. bank for an economic hurricane on the horizon and advised investors to do the same, right, as if their asset management team is out to help us, retail investors... As I said before, we bet against the world once and went Lambo, so I'm pretty optimistic about crypto overall despite the fear, greed, and desperation. Worst case scenario BTC drops to 15k, which is possible, and if it does, that's right where it should be if we're looking at a bull run in the bigger picture. As for LUNC, this is our casino, toy, and meme coin! It goes up and down. There are always opportunities in both directions if you risk losing your family's savings with futures! Tonight is a minor update because I spent most of the weekend sprucing up my chart to my theme, that's less anxiety-inducing and more pleasing to look at, and I plotted some predictions. I've added a fib speed resistance based on the overall trend to give a touch of weight to the prediction bubbles. At the time of writing, fib is looking down. p.s. Trading view historical data sucks; for some reason, a 15m interval (minimum for publishing) cuts off data and begins anew from a recent period. It looks like I'm paying premium for nothing. Stay positive, folks.
by Masterolive