Terra Classic Price Prediction: How the 1M LUNC Deposit Proposal Could Shape the 2024 Bull Run

The Terra Luna Classic community turns a new page with the approval of a proposal that will ensure that those who intend to start a new proposal make an initial deposit. With this move, the network believes it will curb the menace of spam proposals. Price Terra Classic It rose 2% to $0.0001221 on Friday following the development.

Initial deposit proposals navigate through the Terra Classic price rebound

AS This was reported by CoinGapethe proposal called 12071, requires members to deposit 1 million LUNC before any new proposals can be initiated.

The community voted overwhelmingly in favor of approving the proposal, with 89% in favor, 9% saying “No” while only 1% said “no with veto”.

In recent months, the network has made strides to improve the project, including approving key proposals including staking and the crucial token burn program.

The move to limit proposals has been welcomed by many who believe that attention should be paid to properly constructed proposals. After the initial deposit of 1 million LUNC, the proposal authors will have to pay the 5 million deposit to eligible participants in the governance voting phase.

Navigating the Technical Outlook as LUNC Price Rebounds

Terra Classic price has picked up some liquidity during midweek volatility around $0.000118 — the green-colored support band, strengthened by the 200-day exponential moving average (EMA).

A lively one LUNCH supported by a vibrant community, it rose higher, breaking above the broken ascending trendline support (currently resistance), but failed to reach the resistance at $0.0001236, a confluence point joining the EMA to 20 day and the 50 day EMA.

Terra Classic Price Prediction Chart | Tradingview

Holding above the green support band is crucial for LUNC as it allows the bulls to take control and charge upwards. More investors will join the trend as the price rises above the trend line and red resistance at $0.00014.

During last year’s fourth-quarter rally, Terra Classic’s price rose to $0.00028, underscoring the developments within the ecosystem at the time.

The project’s outlook appears optimistic with developers and the community focusing on improving network efficiency in an effort to restore LUNC and USTC to their former glory.

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