$LUNC, Luna is making a ruckus in the crypto community as it rises from the grave.
The crypto community either brushed the cryptocurrency as another failure and walked away or took advantage of the price and bought Terra Classic at incredible lows.
Investors want to know two things.
What’s causing LUNA to go up, and will it continue to set higher levels of support?
Let’s break it down together.
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Luna Classic Community shows ambition
The Luna Classic Community on Twitter has crypto enthusiasts on both sides of the fence.
Crypto investors are either up on gains in LUNA and continue to hold the cryptocurrency or are merely on the sidelines waiting for the asset to smash through the ground.
But bigger influencers such as David Gokhshtein are skeptical stating $LUNC is a lottery ticket.
Gokhshtein was a huge supporter of the project during the surge to $80 and $100 but has since deleted all tweets prior to the crash of UST (Terra Network).
LUNA supporters are hoping to pump the crypto to $1.
And while no one can rightfully predict how high LUNA ($LUNC) can go, the cryptocurrency seems to be setting higher support levels.
Why is LUNA (Terra Classic) going up?
Terra Classic ($LUNC) seems to be having a great deal of volume coming in.
The cryptocurrency saw more than $1 billion in daily volume in the beginning of September where it then turned into $2 billion per day.
It seems whales are moving big money into this very speculative trade and slowly pumping it in order to profit later.
Whales (big money) are the ones who have the power to move the markets so it would only make sense as to why large sums of cash are being pushed through LUNA and not a bigger asset such as Bitcoin.
These investors who have been liquidating from BTC and Ethereum might be looking at other cryptocurrencies to capitalize from.
But those are just my thoughts, I’m curious to know what you think.
Is Terra Classic done running up?
What we do know is that Terra Classic ($LUNC) continues to set higher levels of support, which gives reason as to why LUNA could potentially be headed for higher gains.
Especially if whales are indeed pumping the security for quick profits.
I noticed big volume was going into this cryptocurrency and had called out momentum rising around .00031, LUNA has reached a high of 0.00048 since.
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