Is LUNC Set for a Bull Run? Community and Burn Data Suggest 

LUNC had a recent higher trend reaching the high of $0.00010716 on this daily chart. It was trading above the upper Bollinger bands at press time. LUNC has continued to show bullish signals with the buying interest of the analysts and community, though facing resistance.

With the increase of in price, current activities such as token burners and long-term commitment from supporters are helping to sustain the focus on the continued growth of the token.

LUNC Technical Indicators: Bollinger Bands and RSI Suggest Potential Consolidation

The upward movement that takes place beyond the upper Bollinger Band at the daily chart suggests that there is strengthened buying pressure, and this is often associated with overbought conditions.

1-day LUNC trading chart|source Tradingview

Normally trades above the upper Bollinger tend to be considered overbought. Therefore these trades may have a pullback in the short-term since some traders may want to take profits at this level.

This can be seen by the small pullback from the all-time high with the LUNC price currently hovering around $0.00010437. Traders are waiting for what could be a consolidation phase.

The Relative Strength Index (RSI) is at 66.62, which is slightly below the overbought level of 70. Such an RSI level suggests strong buying signals; however, it also suggests a potential short-term pullback following the gains.

LUNC Key Support and Resistance Levels for Traders

The first level of resistance for the coin is located around $0.00010600 which has been its recent high. If LUNC manages to move past this level with great volume, it could mean that there is more upside potential for the asset. Some traders could eye further higher grounds shortly.

In addition, the middle Bollinger Band at around $0.00009286 acts as support. This level overlaps with the 20-day Simple Moving Average (SMA) that’s regarded as pullback support.

Should LUNC continue to pull back, this area may offer some support from which the token can recover and prepare for any further rally.

Burn Programs and Community Optimism Support the Long-Term Plan

One X market analyst, Bullluncdao wrote, “LUNC is ready for another major takeoff! After a quick refuel and recalibration, we’re stronger, more resilient, and set for the next level.”

Another significant consideration of the LUNC plan is the constant burn campaigns that help to reduce the token supply and, in turn, increase its demand.

The community tracking LUNCMetrics shared on its X account that 72 million LUNC tokens were burned in one day and now the burn stats have gone over 388.9 trillion tokens.

These burn efforts correlate with the development of LUNCArmy’s vision to add value to the token through the continuous elimination of the supply, as many supporters believe by doing so, LUNC will have its price maintained or enhanced in the long run.

Social Media Sentiment Remains Bullish on LUNC’s Future

On top of that, general market sentiment on the social media platform is also very bullish. An X user wrote that LUNC may rise to $1 soon, more if the uptrend persists.

According to this user, LUNC may have swings, retracing to key support and then trying to retest the highs again. While such optimistic projections are speculative, they illustrate the confidence within the LUNC community that the token’s journey is far from over, even as it faces market challenges.