Introduction:
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.
Conclusion:
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.
