The cup and handle design of the Terra classic token has not changed, notwithstanding previous setbacks in the cryptocurrency market.
The coin buyers received sizable support of $0.000224, which further served as the handle portion’s support base. A rapid bullish turn after this support, though, suggests that buying the dip is the new practice of the market participants.
Additionally, on September 26, Terra Classic was 20% lower as selling pressure is still present in the market in general. The revelation that the biggest cryptocurrency exchange, Binance, plans to burn any Terra Classic tokens spot and margin trading costs by transferring them to the burn address of LUNC completely reversed the unfavorable sentiment, though.
Because of this unexpected increase in buyer demand, the altcoin’s prices increased by 37%. The enormous bullish candlestick covered the price movement for the previous 11 days and displayed an effort to break through resistance at $0.0003225.
On the other hand, the Terra classic currency is expected to stabilize inside a limited range if buyers struggle to break through the $0.000322 barrier.