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The post TerraClassic’s (LUNC) Price Surge Gives Traders Hope, But For How Long? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The TerraClassic (LUNC) price has been in the news due to its massive gain. In the last seven days, LUNC has seen a spike of 160% and is now one of the top gainers for the week.

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Several viewpoints, indicators, and other ecosystem advancements have an optimistic outlook toward the market, raising the possibility of additional rises in the days ahead.

At the moment, Terra Classic (LUNC) is selling on a negative trend at $0.000226 after a plunge of 19.22% over the last 24hrs.

After a month-long bearish cycle, the recent price rise has provided much-needed relief for market participants 

Interestingly, there are several factors influencing the LUNC’s positive price movement. For instance, there is a 1.2% burn protocol that is scheduled to be launched on September 12. Once this event is live, it is expected to push the currency towards new heights.

Additionally, the latest rise in prices was supported by high volume, which helps to verify the rising trend and increases the likelihood that LUNC will continue on this upward trend in the future. 

During the price spike, the volume also elevated, reaching a peak of 1.5 billion on September 1st, as per data from Santiment. Consequently, the month has had a positive start.

It’s just not the volume that saw a jump, even LUNC’s development activity and social volumes have seen a spike. Both events are expected to ignite the price rise in the days to come.

Meanwhile, as LUNC was experiencing an increase in its price action, Terra network revealed that they are about to introduce a brand-new Governance Alert Bot that will inform users of the most recent Terran governance-related activity

Thus, all factors look great for LUNC at the moment. The question is: How much higher could it surge from here?

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