LUNC ANALYSIS: MEGA-BURN AND A REVERSAL AT $0.0005? 🔥
Hey, crypto fam! 👋 $LUNC back at it, and the charts are showing something interesting. After the recent -17% correction, many freaked out, but let’s check the facts.
📊 Analysis Overview:
Analysts from The BigBC Finance channel are pointing out a multi-year descending wedge. LUNC broke this wedge back in early May, and now it’s doing the classic retrace (return to the breakout level).
· Targets: If the structure holds, the nearest target is $0.00052** (x5 from current levels). In a super bullish scenario, they’re calling for **$0.014.
· Burn: Burning 444 billion tokens is no joke. Just on May 1, Binance burned another 923 million LUNC. The supply is shrinking, and scarcity is being created.
📉 Current Levels:
· Key support for entering a hodl: $0.0000746 - $0.0000717.
· Resistance for a breakout: $0.0000886.
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