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Terra Classic (LUNC) recorded a burn of 877.5 million tokens over the past week, while the altcoin rallied 48.2%. Some social media posts linked the burn to the price move as cause and effect, but the relationship appears less direct on closer inspection.
Since May 13, 2022, the total LUNC burn has reached 444.63 billion tokens. That level averages about 307 million LUNC burnt per day, which is more than double the average from the previous seven days.
Rather than the burn alone, the move appears to have been driven by a surge of aggressive buyers. The article notes that Terra Luna has had bullish momentum since late February, and that LUNC’s price action reflected improving market structure.
On the daily chart, LUNC did not set new swing lows during the market crash on February 6. Since then, it has formed higher lows alongside the broader crypto market.
The rally progressed after LUNC broke above the $0.000045 resistance zone, which had held influence throughout 2026. A more defining development came with the recent daily session close above $0.00007246, flipping the 1-day structure from bearish to bullish.
With that shift, long-term holders and investors can adopt a bullish outlook and treat pullbacks as potential buying opportunities. The monthly timeframe also closed above a local high, reinforcing the dominance of the daily structural change, though follow-through remains uncertain.
On the 4-hour chart, the price made higher highs while the Awesome Oscillator and the A/D indicator made lower highs, suggesting LUNC may be overextended.
Traders cited Fibonacci retracement levels as a guide for entries. The proposed buy zone is the $0.0000644 to $0.0000672 “golden pocket,” intended to position for bullish continuation.
The idea would be invalidated if price drops below the $0.0000608 swing low, which would indicate a deeper pullback in May.
Terra Classic rallied nearly 50% over the past week and was up 5% in the past 24 hours. Higher timeframes reportedly aligned to show a bullish structural shift, and traders are looking for a pullback to create a buying opportunity in the coming days.
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