Terra Luna Classic (LUNC) has been in the spotlight recently due to the exposure of fallen US banks, Silicon Valley Bank (SVB) and Signature Bank New York. This event caused a massive price spiral for LUNC, but the token managed to recover with the support at $0.00012 holding strong.
Support at $0.00012 Stops LUNC from Slipping Further:
Despite the messy events surrounding SVB and Signature Bank New York, support at $0.00012 stood its ground and prevented LUNC from slipping further. Experts had predicted that if the token slipped beneath the broken support at $0.00014, it may sweep through the liquidity at the $0.00012 price level.
This was also confirmed by Sydney TheCMO.eth, A renowned crypto influencer on twitter,
Just when you thought #TerraLunaClassic was down for the count, it comes back swinging! The support at $0.0001322 held strong and we’re seeing a sharp recovery.
Don’t underestimate the power of #cryptocurrency, folks! #LUNC #LuncArmy
— Sydney TheCMO.eth (@SydneyIfergan) March 14, 2023
A Sharp Recovery for LUNC:
Following the massive price spiral over the weekend, a sharp and immediate recovery was anticipated from the $0.00012 support area. As predicted, LUNC aggressively sprung upward on Monday and is now trading at $0.0001336 at the time of writing.
Analysis of LUNC’s Recovery:
The recovery of LUNC’s price can be attributed to the strong support at $0.00012 and the market’s bullish sentiment towards cryptocurrencies. Despite the exposure to fallen US banks, investors still have faith in LUNC and believe in its potential for growth.
Terra Luna Classic has managed to recover from the recent event of exposure to fallen US banks, thanks to the strong support at $0.00012 and the overall bullish sentiment in the cryptocurrency market. Despite the volatility and unpredictability of the market, LUNC continues to show promise for growth and potential profits for investors.