Join Our Telegram channel to stay up to date on breaking news coverage
Terra Classic price is up 27% in the last 24 hours to trade for $0.000116 at 5:50 am EST.
Trading volume is up 1,100% over the same timeframe amid news of the Terra Classic Labs ecosystem’s new venture.
Meanwhile, the value of the BTCETF token is at the cusp of another hike. This means now is the time to buy Bitcoin ETF Token as analysts anticipate 10X growth potential.
Terra Classic Labs New Investment
The Terra Classic Labs has a new venture presented through TerraClassicUSD (USTC) stablecoin. In an update shared on social media platform X by an official partner of Luna Classic Labs, Trader QT, the Terra Classic Labs ecosystem has acquired 25.6 million USTC, worth about $500,000, as part of its Treasury Reserve Policy. The acquisition was made at an average price of $0.021 per USTC.
I can confirm that today, in an initial strategic investment, Luna Classic Labs has purchased approximately 25.6m $USTC for $500k in accordance with its Treasury Reserve Policy, at an average price of approximately $0.021 per $USTC.
— Trader QT (@0x_Ears) November 26, 2023
The move is part of recovery efforts to revive the price of the USTC stablecoin following its de-peg from the $1 tag in May 2022. The investment could support this objective, potentially serving as a major prop for the stablecoin.
The announcement sent the USTC market value soaring almost 140% in 24 hours. This was no mean feat, considering the token’s market value had long stagnated.
Terra Luna Classic (LUNC) is pumping alongside USTC because the two tokens are tied to the same ecosystem. The 27% uptick recoups all the losses made over the past week and then some, with prospects for more gains as November nears its end.
The surge echoes the efforts by the communities behind the USTC stablecoin and Terra Luna Classic networks to increase the value of the two assets.
Terra Classic Price Outlook With More Gains In The Cards For LUNC
The Terra Classic price is trading with a bullish bias after a hard pump on November 26. The Relative Strength Index (RSI) and the Exponential Moving Averages (EMA) are both moving north, pointing to growing momentum. The position of the RSI at 73 indicates that LUNC is already overbought but may not be ready for selling as this momentum indicator remains biased to the north.
Increased buying pressure above current levels could see Terra Classic price extend, clearing the Sunday highs above $0.00011000 before extending north to clear the equal highs at $0.00011495. In a highly bullish case, the gains could be extrapolated for the Terra Classic price to tag the range high at $0.00013500. Such a move would constitute a 35% climb above current levels.
The Awesome Oscillator (AO) indicator shows green candlesticks taking over from the streak of red. This shows that the bulls continue to overpower the bears. The price is also sitting on strong downward support, presented by the EMAs.
Conversely, a re-entry by the bears, or if selling pressure abounds over buyer momentum, Terra Classic price could pull south. In such a directional bias, the price could pivot around the support confluence between the 200-day EMA and the horizontal line at $0.00008392. If this buyer congestion level fails to hold, the price could roll over to test the 25-day EMA at $0.00007703 or the $0.00007315 support level.
Further south, it could extend a leg down to test the 50- and 100-day EMA at $0.00007202 and $0.00007102 support levels.
Another coin with a steep upward trajectory that might be considering right now is BTCETF, the only token rewarding holders as spot Bitcoin exchange-traded funds (ETFs) are approved.
Describing #BitcoinETF: not just an anticipation for the #Bitcoin #ETF surge, but a utility #Token! 🚀
A quarter of the supply is set for incentives, promoting network strength.
Stay tuned for details on the platform for full transparency! pic.twitter.com/loXeh8JyMQ
— BTCETF_Token (@BTCETF_Token) November 26, 2023
Promising Alternative To Terra Classic
BTCETF is the ticker for the Bitcoin ETF Token project, a new ecosystem front-running the approval of spot Bitcoin ETFs.
#BitcoinETF Stage 5 is now live! 🚀 pic.twitter.com/bz0twyXA77
— BTCETF_Token (@BTCETF_Token) November 24, 2023
It is in the fifth stage of the presale, due to end in less than two days, with more than $1.8 million already in the bag and only 18 hours left before a price rise.
#BitcoinETF Stage 5 is concluding in 2 days! ⏳ pic.twitter.com/IPUGTEuoIy
— BTCETF_Token (@BTCETF_Token) November 26, 2023
Investors looking to buy BTCETF can do so in the presale stage at the current rate of $0.0058. Visit Bitcoin ETF Token to buy BTCETF in the presale here.
Also Read:
New Crypto Mining Platform – Bitcoin Minetrix
- Audited By Coinsult
- Decentralized, Secure Cloud Mining
- Earn Free Bitcoin Daily
- Native Token On Presale Now – BTCMTX
- Staking Rewards – Over 100% APY
Join Our Telegram channel to stay up to date on breaking news coverage
Credit: Source link
