Terra Luna Classic jumps 18% with high volume but faces resistance and liquidation risks

Terra Luna Classic (LUNC) surged 18.29% in 24 hours amid a 363% spike in trading volume, showing strong buyer interest and increased market activity. The price moved from $0.00045 support toward a key resistance zone at $0.00058–$0.00062, where sellers remain active, causing potential rejection risks. Outflows from exchanges suggest holders are retaining tokens, supporting price stability, but a high level of long liquidations signals fragile bullish positioning. If buyers hold above resistance, the rally could continue; otherwise, a rejection might lead to further downside due to leveraged sell-offs.