CandleFocus Terra Classic price prediction as LUNC set for crucial bankruptcy hearing
2024-09-19
Author: Content Editor
Terraform Labs (TFL) is preparing for its Chapter 11 bankruptcy hearing, but has announced plans to burn all remaining tokens, including Terra Classic (LUNC) and USTC, by October 30, 2024. LUNC has shown steady upward momentum, with an 8.99% climb over the past month and a 48.23% surge over the past year. The token is currently hovering around a support level at $0.000085, with a resistance level at $0.00009. The broader market has provided support for LUNC, as the recent interest rate cut by the Federal Reserve has benefitted cryptocurrencies. Technical upgrades have also bolstered confidence in the Terra Classic network. Today's bankruptcy hearing could be a turning point for LUNC, with the planned token burn and technical improvements potentially leading to gains. However, investing in crypto carries risks.
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