The LUNC network upgrade will take place around February 14, 2023.
Market indicators and statistics were bullish.

A few days ago, Terra classic [LUNC] announced its plans to launch a new upgrade called v1.0.5. Similarly, on February 6, Binance announced that it will support LUNC’s latest network upgrade. According to the announcement, the network upgrade will occur at the Terra Classic block height of 11,543,150, which is estimated to happen on February 14.

This upgrade is a state-breaking fix made to the upgrade keeper that stores the current version directory of the modules in the application’s memory.

However, Binance’s announcement didn’t seem to have much impact on LUNC as the daily chart registered a decline. From CoinMarketCapLUNC’s price is down 2% in the past 24 hours, and at the time of writing, it is trading at $0.0001822 with a market cap of over $1 billion.

Read Terra Classics [LUNC] Price prediction 2023-24

Is LUNC getting ready?

While LUNC’s price action was slow, its burn rate remained commendable. The latest data showed that more than 38.67 billion LUNC was burnt up to the time of pressing, which accounted for 0.56% of the total stock.

Santiment’s chart revealed that quite a few stats worked in LUNC’s favor. For example, LUNC’s development activity increased significantly, indicating increased developer efforts to improve the network.

LUNC’s social dominance peaked last week, reflecting its popularity in the crypto space. In addition, LunarCrush’s facts be aware that LUNCThe dominance of the market registered an increase, which was a development in favor of the token.

Source: Sentiment

Realistic or not, here it is The market cap of LUNC in terms of BTC

Investors can sit back

Despite the recent negative price action, the LUNC daily chart remained mostly bullish. The Exponential Moving Average (EMA) ribbon showed a bullish crossover as the 20-day EMA reversed the 55-day EMA. LUNC‘s Chaikin Money Flow (CMF) registered an increase and broke above the neutral mark, which was bullish. In addition, the price of LUNC entered a somewhat high volatility zone, as suggested by the Bollinger Bands.

The Money Flow Index (MFI) also remained well above the neutral limit, further increasing the likelihood of an upward trend in the near term. However, the MACD revealed that bulls had the upper hand in the market, but things could take a turn for the worse as there was a possibility of a bearish crossover.

Source: TradingView

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