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Terra Classic price has risen 27% in the last 24 hours to trade for $0.000116 at 5:50 a.m. EST.
Trading volume increased 1,100% during the same time period amid news about ecosystem startup Terra Classic Labs.
Meanwhile, the value of the BTCETF token is on the verge of another rise. This means now is the time to buy bitcoin ETF tokens as analysts anticipate 10x growth potential.
New investment from Terra Classic Labs
Terra Classic Labs has a new venture introduced through the TerraClassicUSD (USTC) stablecoin. In an update shared on social media platform Treasury Reserve. The acquisition was made at an average price of $0.021 per USTC.
I can confirm that today, in an initial strategic investment, Luna Classic Labs has purchased approximately 25.6 million $USTC per $500k in accordance with its Treasury Reserve Policy, at an average price of approximately $0.021 per $USTC.
– QT Trader (@0x_Ears) November 26, 2023
The move is part of recovery efforts to revive the price of the USTC stablecoin following its unpegging from the $1 tag in May 2022. The investment could support this goal, potentially serving as important support for the stable currency.
The announcement caused USTC’s market value to soar almost 140% in 24 hours. This was not an easy task, considering that the token’s market value had been stagnant for a long time.
Terra Luna Classic (LUNC) is pumping alongside USTC because the two tokens are tied to the same ecosystem. The 27% rise recoups all the losses suffered over the past week and then some, with prospects for more gains as November draws to a close.
The increase echoes the efforts of the communities behind the USTC and Terra Luna Classic stablecoin networks to increase the value of the two assets.
Terra Classic Price Outlook with More Gains in the Cards for LUNC
Terra Classic price is trading with a bullish bias after a sharp rise on November 26. The Relative Strength Index (RSI) and Exponential Moving Averages (EMA) are moving north, pointing to increasing momentum. The RSI position at 73 indicates that LUNC is already overbought but may not be ready to sell as this momentum indicator remains biased towards the north.
Further buying pressure above current levels could see Terra Classic price extend, surpassing Sunday’s highs above $0.00011000 before extending north to surpass the same highs of $0.00011495 . In a highly bullish case, profits could be extrapolated to Terra Classic price to mark the range high at $0.00013500. Such a measure would constitute a 35% increase above current levels.
The Awesome Oscillator (AO) indicator shows green candles replacing the red streak. This shows that the bulls continue to dominate the bears. The price also has strong downward support, presented by the EMAs.
On the contrary, a re-entry of the bears, or if selling pressure abounds on buyer momentum, the price of Terra Classic could drop. In such a directional bias, the price could turn around the support confluence between the 200-day EMA and the horizontal line at $0.00008392. If this level of buyer congestion does not hold, the price could fall to test the 25-day EMA at $0.00007703 or the support level at $0.00007315.
Further south, it could extend a bearish leg to test the 50-day and 100-day EMA at the $0.00007202 and $0.00007102 support levels.
Another coin with a steep upward trajectory that could be under consideration right now is BTCETF, the only token that rewards holders when spot bitcoin exchange-traded funds (ETFs) are approved.
Describing #BitcoinETF: not just an anticipation of the bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin #ETF increase, but a utility #Symbolic!
A quarter of the offer is allocated to incentives, promoting the strength of the network.
Stay tuned for details on the platform for complete transparency! pic.twitter.com/loXeh8JyMQ
– BTCETF_Token (@BTCETF_Token) November 26, 2023
Promising alternative to Terra Classic
BTCETF is the symbol of the bitcoin ETF Token project, a new ecosystem leading the approval of bitcoin spot ETFs.
#BitcoinETF Stage 5 is now available! pic.twitter.com/bz0twyXA77
– BTCETF_Token (@BTCETF_Token) November 24, 2023
It is in the fifth stage of the pre-sale, which will end in less than two days, with more than 1.8 million dollars already in the stock market and there are only 18 hours left for the price to rise.
#BitcoinETF Stage 5 concludes in 2 days! pic.twitter.com/IPUGTEuoIy
– BTCETF_Token (@BTCETF_Token) November 26, 2023
Investors who wish to purchase BTCETF can do so at the pre-sale stage at the current exchange rate of $0.0058. Visit bitcoin ETF Token to buy BTCETF in the pre-sale here.
Also read:
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
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