{"id":318695,"date":"2023-06-06T03:00:28","date_gmt":"2023-06-05T21:30:28","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=318695"},"modified":"2023-06-05T18:08:15","modified_gmt":"2023-06-05T12:38:15","slug":"lunc-week-long-uptick-fizzles-out-whats-going-on","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/lunc-week-long-uptick-fizzles-out-whats-going-on\/","title":{"rendered":"LUNC: Week-long uptick fizzles out &#8211; what&#8217;s going on?"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><i><span style=\"font-weight: 400;\">Long-positioned traders took the baton of liquidation from shorts.<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\"><i><span style=\"font-weight: 400;\">Amid bearish tendencies, the ADX could keep LUNC&#8217;s price higher<\/span><\/i><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">After witnessing a period of positive price movement, <\/span><span style=\"font-weight: 400;\">Terra Classic [LUNC]<\/span><span style=\"font-weight: 400;\"> traders, who were enthusiastic about another increase in value, were left in regret. According to Coinglass, LUNC\u2019s long <\/span><a href=\"https:\/\/www.coinglass.com\/LiquidationData\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">liquidations<\/span><\/a><span style=\"font-weight: 400;\"> reached $302,280 on 5 June.<\/span><\/p>\n<figure id=\"attachment_318704\" aria-describedby=\"caption-attachment-318704\" style=\"width: 1336px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-05-at-11.51.12.png\"><img decoding=\"async\" class=\"size-full wp-image-318704\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-05-at-11.51.12.png\" alt=\"LUNC liquidations\" width=\"1336\" height=\"332\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-05-at-11.51.12.png 1336w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-05-at-11.51.12-300x75.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-05-at-11.51.12-1024x254.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-05-at-11.51.12-768x191.png 768w\" sizes=\"(max-width: 1336px) 100vw, 1336px\" \/><\/a><figcaption id=\"caption-attachment-318704\" class=\"wp-caption-text\">Source: Coinglass<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Over the past week, LUNC emerged as one of the biggest gainers alongside <\/span><span style=\"font-weight: 400;\">Ripple [XRP]<\/span><span style=\"font-weight: 400;\">. But the upward momentum in LUNC&#8217;s price <\/span><a href=\"http:\/\/ambcrypto.com\/terra-classic-discloses-parity-upgrade-date-what-about-lunc\/\"><span style=\"font-weight: 400;\">faded<\/span><\/a><span style=\"font-weight: 400;\">\u00a0in the last 24 hours. However, this decline has only been minimal.<\/span><\/p>\n<h3><b>Open Interest abode at the peak<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The increase in LUNC\u2019s value resulted from a recent decision by Binance and a surge in the token\u2019s trading volume.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In an official <\/span><a href=\"https:\/\/www.binance.com\/en\/support\/announcement\/binance-futures-will-delist-and-update-the-leverage-margin-tiers-of-usd%E2%93%A2-m-1000luncbusd-perpetual-contract-0e84e685101d457a95cbe5c550b6e891\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">announcement <\/span><\/a><span style=\"font-weight: 400;\">on 1 June, the world\u2019s largest exchange revised leverage positions on its platform. This led to the closure of all open positions on the <\/span><span style=\"font-weight: 400;\">USD\u24c8-M 1000LUNCBUSD Perpetual Contract.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, data from the derivatives portal showed that the <\/span><a href=\"https:\/\/www.coinglass.com\/BitcoinOpenInterest\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">LUNC Open Interest (OI)<\/span><\/a><span style=\"font-weight: 400;\"> has maintained its increase. The OI is the total number of outstanding futures or options contracts that are yet to be settled.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the OI increases, it means that more liquidity is flowing into a contract. But when it decreases, it is a sign that traders are closing their positions. Thus, LUNC\u2019s position aligns with the former.<\/span><\/p>\n<figure id=\"attachment_318703\" aria-describedby=\"caption-attachment-318703\" style=\"width: 1334px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-05-at-12.15.28.png\"><img decoding=\"async\" class=\"size-full wp-image-318703\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-05-at-12.15.28.png\" alt=\"LUNC price action\" width=\"1334\" height=\"368\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-05-at-12.15.28.png 1334w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-05-at-12.15.28-300x83.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-05-at-12.15.28-1024x282.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-05-at-12.15.28-768x212.png 768w\" sizes=\"(max-width: 1334px) 100vw, 1334px\" \/><\/a><figcaption id=\"caption-attachment-318703\" class=\"wp-caption-text\">Source: Coinglass<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The trend has the potential to act as a strength for LUNC\u2019s press time direction. But the token could be faced with some drawbacks, per the daily chart.<\/span><\/p>\n<h3><b>LUNC: Not down, not out<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">At the time of writing, the Bollinger Bands (BB) showed that LUNC\u2019s volatility had subsided. So, sudden price spikes or declines might not occur soon.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the price touched the upper band at $0.000098. When this happens, it suggests that the token might be overbought. Hence, the trend could retrace as might already be in the process, as shown by the sharp red candle.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Direction-wise, LUNC exhibited signals of an increased uptrend. At press time, the Directional Movement Index (DMI) had the positive (green) in a far higher position than the -DMI (red).<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Realistic or not, here\u2019s <a href=\"http:\/\/ambcrypto.com\/calculator\" target=\"_blank\" rel=\"noopener\">LUNC\u2019s market cap in BTC terms<\/a><\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">With the Average Directional Index (ADX) &#8211; in yellow &#8211; at 42.24, LUNC\u2019s uptick had the tendency to continue.\u00a0<\/span><\/p>\n<figure id=\"attachment_318702\" aria-describedby=\"caption-attachment-318702\" style=\"width: 1541px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/LUNCUSD_2023-06-05_12-47-05.png\"><img decoding=\"async\" class=\"size-full wp-image-318702\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/LUNCUSD_2023-06-05_12-47-05.png\" alt=\"LUNC price action\" width=\"1541\" height=\"877\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/LUNCUSD_2023-06-05_12-47-05.png 1541w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/LUNCUSD_2023-06-05_12-47-05-300x171.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/LUNCUSD_2023-06-05_12-47-05-1024x583.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/LUNCUSD_2023-06-05_12-47-05-768x437.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/LUNCUSD_2023-06-05_12-47-05-1536x874.png 1536w\" sizes=\"(max-width: 1541px) 100vw, 1541px\" \/><\/a><figcaption id=\"caption-attachment-318702\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Usually, when the ADX (yellow) rises above 25, it indicates a strong directional movement. Conversely, a value below the threshold could <\/span><span style=\"font-weight: 400;\">show a shift in sentiment and a potential short-term <\/span><a href=\"http:\/\/ambcrypto.com\/heres-what-terra-classics-proposal-holds-for-lunc-but-do-bears-have-other-plans\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">bearish<\/span><\/a><span style=\"font-weight: 400;\"> outlook for the token.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LUNC witnessed the liquidation of over $300,000 in open long positions. However, the token&#8217;s strength in maintaining its current momentum is something to watch out for.<\/p>\n","protected":false},"author":72,"featured_media":318700,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[3492],"class_list":["post-318695","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view","tag-lunc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>LUNC: Week-long uptick fizzles out - what&#039;s going on? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"After witnessing a period of positive price movement, Terra Classic [LUNC] traders were left in regret, here&#039;s why.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/lunc-week-long-uptick-fizzles-out-whats-going-on\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LUNC: Week-long uptick fizzles out - what&#039;s going on? - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"LUNC witnessed the liquidation of over $300,000 in open long positions. 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