Terra Classic posts a surprise 31% surge — here is why | Credit: Hameem Sarwar
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Key Takeaways
LUNC jumped 31% after a reporter wore a shirt with its logo during Binance Week.
The cryptocurrency has broken above a key resistance line, while aiming higher.
This analysis reveals the altcoin’s potential target on the 4-hour and daily charts.
Terra Classic (LUNC) price surged by 31% unexpectedly in the last 24 hours, stunning the market.
At the time of writing, the altcoin is trading at $0.000037.
The sudden rally comes after years of decline, especially as LUNC struggled with hyperinflationary pressures since the 2022 bear market.
But why did the LUNC price suddenly surge, and what’s next?
LUNC Rebounds
On the 4-hour chart, the Bull Bear Power (BBP) indicator shows a strongly bullish structure.
With BBP surging above the zero line and printing large green histogram bars, buyers are clearly in control and driving momentum upward.
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LUNC’s price surge reflects confidence, as the cryptocurrency breaks through intermediate resistance levels and tags the upper boundary near $0.000039 before facing mild rejection.
A reclaim of this level could open the door to broader upside, especially if volume remains elevated.
Surprise Moment Sparks Token Rally
The surge followed Coindesk reporter Ian Allison wearing the project’s T-shirt while moderating a session at Binance Blockchain Week.
According to CCN’s findings, this could have spurred an uptrend in LUNC.
The recent uptick suggests rising interest, potentially driven by increased visibility and community engagement.
However, sustaining momentum will depend on the broader market trend.
LUNC Price Positioned for Extended Uptrend
On the daily chart, the Directional Movement Index (DMI) shows bullish momentum.
The positive DMI (green) trades at 35.10, above the negative DMI (red) at 19.87, signaling a strong buyer presence.
The Average Directional Index (ADX) confirms the trend at 44.06, indicating strong and well-established upward momentum. An ADX above 40 confirms a powerful bullish trend.
LUNC’s price is posting higher highs as it approaches immediate resistance at $0.000039.
Meanwhile, the Relative Strength Index (RSI) sits at 67.16, nearing overbought territory, but buyers still dominate, and the uptrend remains strong.
Examining Fibonacci retracement levels, LUNC’s price is near the 0.382 Fib level at $0.000037, a zone it had previously passed without significant resistance, indicating strong momentum.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
