Conversely, a close below the $0.23 support area would likely lead to a touch of the 0.618 Fib retracement support level at $0.204. On the other hand, a fall below $5.90 would invalidate this bullish prediction. ETHW has been decreasing below a descending resistance line since Sept. 17. Conversely, a close below $0.037 would invalidate this bullish prediction. Due to the shape of the correction, another downward movement towards $6.50 would be the most likely scenario.
As reported by TheCryptoBasic, the long-awaited 1.2% tax burn will be implemented on the Terra Classic network on September 20, 2022. Based on this, Bitrue stated that it would upgrade the wallets of the selected cryptocurrencies on September 19, 2022, in preparation for the 1.2% tax burn. The 1.2% tax burn proposal aims to reduce the total supply of LUNC, thus boosting the crypto’s price. Interestingly, the initiative has been championed by holders of the crypto asset, who are dedicated to making themselves whole. The other exchanges include Binance, KuCoin, Huobi, Gate.io, MEXC Global, Lbank, and CoinInn. After implementing the tax burn, 1.2% of the transaction amount will be charged for all deposits and withdrawals of Terra Classic network tokens on Bitrue.
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Conversely, a breakout above the line and horizontal area would mean that the price action is bullish instead. The KLAY price has been falling since reaching a high of $0.34 on Oct. 29. The low was made inside the 0.5 Fib retracement support level. However, a breakout from the channel would invalidate the bearish price prediction and indicate that new lows are in store.
Kucoin, MEXC Global, and CoinInn will support both on-chain (deposits, withdrawals) and off-chain (Trading) LUNC transactions. In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. In the period between Oct. 21 and Nov. 2, the price created a double bottom, which is considered a bullish pattern. Additionally, the weekly RSI generated bullish divergence (green line).
Afterward, APT began an upward movement and is now trading in the upper portion of the channel. APT has been decreasing inside a descending parallel channel since Oct. 23.
- However, a breakout from the channel would invalidate the bearish price prediction and indicate that new lows are in store.
- After implementing the tax burn, 1.2% of the transaction amount will be charged for all deposits and withdrawals of Terra Classic network tokens on Bitrue.
- The line has caused two rejections, most recently on Oct. 30.
- The other exchanges include Binance, KuCoin, Huobi, Gate.io, MEXC Global, Lbank, and CoinInn.
Singapore-based cryptocurrency trading platform Bitrue is the latest centralized exchange to declare support for the 1.2% tax burn of LUNC. According to Bitrue, the 1.2% tax burn will only be implemented in all on-chain transactions involving the listed cryptocurrencies. Following the development, Bitrue now joins the list of centralized exchanges interested in implementing the 1.2% tax burn for LUNC. Currently, eight exchanges have declared that they would support the proposal, including Bitrue, once it goes live.
BeInCrypto takes a look at five projects that decreased considerably relative to the rest of the crypto market last week, more specifically, from Oct. 28 to Nov. 4. The LUNC price has been falling underneath a descending resistance line since Sept. 13. The line has caused two rejections, most recently on Oct. 30.
The exchange said it would halt the deposit and withdrawal of the tokens during the time of the upgrade, and the services will resume once the upgrade has been completed. Aside from the burn plans, these investors have also implemented other Lunc криптовалюта initiatives to reduce LUNC circulating supply, including staking of the asset. The decrease led to a low of $0.037 on Nov. 3, just above the 0.618 Fib retracement support level and $0.037 horizontal support area.