TLDR:
- Over 923 million LUNC tokens were burned on May 1, pushing the token to a 13-month price high of $0.00009724.
- LUNC market cap has recovered above $530 million, backed by a strong 284% price gain recorded over the last six months.
- Analysts warn that the $0.0001 resistance level may trigger a 40–50% correction if LUNC fails to close above it.
- Technical targets at $0.00018 and $0.00024 are in view if LUNC confirms a breakout above its four-year resistance zone.
LUNC, the native token of the Terra Classic blockchain, has recorded a sharp 100% price rally in recent trading sessions. The surge has drawn wide attention from analysts and retail investors across the crypto market.
Key factors behind the move include major token burns, a recovering market capitalization, and a scheduled network upgrade vote.
Analysts, however, warn that a four-year resistance level at $0.0001 could determine the token’s next directional move entirely.
Burn Activity and Network Developments Push LUNC Higher
On-chain data confirms that 923 million LUNC tokens were burned on May 1 alone. Furthermore, over 1 billion tokens have been removed from circulation in recent weeks.
These removals have helped drive LUNC to a 13-month high of $0.00009724. The token’s market capitalization has also recovered above $530 million as a result.
Over the last six months, LUNC has posted a 284% gain in total value. That performance has brought renewed attention from traders who had largely moved on from the token.
A network upgrade vote scheduled for May 6 has added further momentum to the current rally. Unverified rumors of a major deal have also contributed to growing buying pressure in the market.
Crypto analyst CryptoPatel flagged on X that LUNC is trading near $0.0001. This price zone has held as a strong channel resistance level for the past four years.
According to the analyst, this area will determine the token’s next major price move. A rejection at this level could lead to a 40% to 50% correction from current prices.
That said, the total supply of LUNC still stands at 6.46 trillion tokens. Analysts point out that the current burn rate is marginal relative to the overall supply.
The gap between burned tokens and total circulation remains considerably wide. Sustained price growth, therefore, requires real network utility and broader adoption beyond burn-driven momentum.
Technical Targets Point to Further Upside if LUNC Clears Resistance
Technical analyst JavonMarks posted on X that LUNC has broken out from a key structure. The analyst projects a further move between 134% and 217% above current levels.
Price targets identified in the analysis are $0.00018 and $0.00024, respectively. A confirmed breakout at this stage could mark the start of a broader recovery for Terra Classic.
$LUNC BREAKS OUT!
Potential here can extend beyond another 134-217% higher to targets at $0.00018, $0.00024.
This could be the break that starts a huge recovery for LUNC!
(Terra Classic) pic.twitter.com/8fhkeUYxcS
— JAVON
MARKS (@JavonTM1) April 30, 2026
The $0.0001 resistance zone remains the most closely watched price level right now. A sustained close above this area on strong volume would reinforce the bullish case considerably.
On the other hand, failure at this level could draw sellers back into the market quickly. Traders are watching price action carefully ahead of the May 6 network upgrade vote.
Retail FOMO is also building at a fast pace, which tends to amplify moves in both directions. Short-term catalysts like token burns have historically produced quick but temporary rallies in LUNC.
Without meaningful network adoption, those moves have rarely sustained over the longer term. The upcoming vote outcome may offer clearer direction for LUNC in the sessions ahead.
The post LUNC Surges 100% as Token Burns and Network Upgrade Vote Fuel Fresh Bullish Momentum appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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