The Terra Lonce Coin (LUNC/USD) jumped from $0.0001825 on September 26 to $0.0003613 on Sunday, an increase of nearly 100% in less than a week.
The Terra Luns coin recorded such significant gains thanks to successive burns of the coin, after the swing low to high swing low over the past seven days, according to Investing.com.
The cryptocurrency that filled the crypto market, after crashing near zero over the past few days, surged by more than 98% thanks to the new burning policy announced by Binance for the TerraLone coin.
With the spread of the phenomenon of meme coins and dog coins such as (Shiba Inu) and (Dogecoin), which found support from business and financial magnates such as Elon Musk, some submerged currencies began to reappear, in which investing in them involves high risks, which may reach the point of losing All your money, so be careful, as all the data in the report is just a monitoring of price fluctuations according to the trading platforms.
The Fibonacci (white) levels of terra lonce showed that $0.00036 could act as short-term resistance, while $0.00033 could act as support for the cryptocurrency.
A deeper decline of tera lones to $0.0003 (23.6% retracement) also seemed possible, as the RSI was strongly bullish, and also in overbought territory.
Returns to $0.00033 and $0.0003 can be used to enter long positions on tera lonce, the strong bullish trend may continue over the next few days, the 61.8% extension level at $0.00042 could be another bullish target.
One of the recent achievements of TerraLone is its support from the crypto exchange Binance, which stated that it will apply a consolidation fee of 1.2% to all deposits received on the platform before they are deposited into user accounts.
This decision brought about the Terra Luns community as they had been seeking this support for a long time. However, despite these accomplishments and future plans, many on-chain metrics failed to support tera lones and indicated a possible downtrend in the coming days.
