Introduction

Binance Thailand has officially announced the listing of Terra Luna Classic (LUNC), which is set to commence today. This significant step, unveiled by prominent crypto influencer Mr. Diamondhandz1, marks a special event for the LUNC community, sparking anticipation and excitement among investors.

Listing Welcomes Important Announcement

This listing timing is noteworthy, coming just a day before the much-anticipated announcement regarding the resolution between the U.S. Securities and Exchange Commission (SEC) and Terraform Labs (TFL). The event coincides with the Federal Open Market Committee (FOMC) meeting on June 12.

According to crypto commentator Hailey LUNC, this event could trigger a significant price movement for LUNC, potentially pushing its value closer to the $1 mark, a crucial psychological milestone for investors.

LUNC Price and Trading Volume

Currently, Luna Classic is trading at $0.0001063, showing a moderate increase of 0.13% over the last 24 hours. The market capitalization stands at around $615.73 million, indicating sustained investor interest and confidence in this cryptocurrency.

However, the 24-hour trading volume has seen a significant decrease of 2.63%, falling to $16.54 million. This decline may signal a consolidation phase or reduced trading activity as investors await the outcome of upcoming events.

Resistance and Support Levels

The price level of $0.0001060 has consistently provided support, with the price bouncing back from this point multiple times. If the price drops below this level, buyers are likely to emerge around the next support at $0.0001055.

On the resistance side, $0.0001070 has been a significant barrier where sellers typically take profits. If the price surpasses this level, the next resistance point is at $0.0001080, representing a psychological milestone and the previous high of the day.

Terra Luna Classic has shown notable volatility, with values fluctuating between local extremes and within a tight trading range.

This volatility has contributed to high trading volumes, reflecting an ongoing battle between buyers and sellers. The recent 23.63% decrease in trading volume may indicate a consolidation phase or be a precursor to a major directional move, which could be either upwards or downwards.

Furthermore, the Relative Strength Index (RSI) for LUNC on a 1-day timeframe reads 42.90, indicating that the cryptocurrency is approaching oversold conditions. However, it has not reached levels that typically signal strong buying opportunities.

Additionally, the Moving Average Convergence Divergence (MACD) is trading below the signal line, indicating a bearish short-term momentum.