$LUNC Army: Full Throttle with a 120%+ Surge, But Are We Ignoring the Biggest Red Flag?
The Terra Classic community is absolutely sending it right now!
just exploded for over 120% gains this week, fueled by major catalysts:
🚨 Technical Debt Burn: The overwhelming community approval for the v3.6.1 upgrade (99.34% validator backing) confirms the chain's development momentum. A key signal of long-term intent.
🔥 Binance Burn Power: Binance continues to provide massive support, leading the charge by burning billions of $$LUNC okens monthly. This is a fundamental supply reduction mechanism.
EXPERT INSIGHT & CAUTION:
As a 15-year trader, I have to flag the immediate risk: Open Interest (OI) has dropped dramatically, collapsing by over 80% just as the price peaked.
What does this mean?
This tells us the rally is likely driven by short-term spot market hype (FOMO) rather than sustained leveraged positions, making it vulnerable. We are testing key resistance around the $0.000067 - $0.000068 zone. A rejection here could lead to a swift correction.
Master the Square Action Plan: Watch this resistance level. We need consolidation above it and a recovery in OI to confirm a true breakout, not just a pump-and-dump event.
Is this a classic 'Buy the Rumor, Sell the News' event ahead of the upgrade, or the start of the long-awaited $L$LUNC meback?
Drop your target price and your reasons below! 👇