LUNC has shown significant strength in the past 24 hours, with its price rising by 9.22% and its trading volume increasing by 195% during the same period. This trend is more pronounced compared to the pullbacks in Bitcoin and Ethereum during the same period, indicating that short-term funds are returning to this token.
Trading volume and open interest both increased.
CoinMarketCap data shows that LUNC trading activity has surged rapidly in a short period. Meanwhile, Coinalyze data shows that its open interest has increased by 15%, indicating rising participation in the derivatives market.
This usually means that not only is there an increase in spot buying, but some traders are also betting on a continued price rebound. A simultaneous increase in both trading volume and open interest often amplifies short-term volatility.
Data destruction and pledging attract attention
On-chain destruction tracking data shows that 367 million LUNC were destroyed in the past week, accounting for approximately 0.005% of the total supply. Another approximately 13.81% of the total supply is currently staked.
While these two data points themselves have limited impact on the overall market, destruction and pledging are often seen as supporting factors for prices when market sentiment improves. This is especially true during periods of increased trading activity, where such supply-side changes are more easily amplified and interpreted.
$0.000072 becomes support
From a price structure perspective, the $0.000072 level had previously acted as a long-term resistance, spanning from July 2025 to April 2026. After this level was broken in May, LUNC rose to $0.000123 before pulling back.
The recent price rally is largely attributed to the fact that this old resistance level held, instead turning into support. The article notes that the retracement level around $0.0000688 also coincides with this support area, further strengthening the buying base in that range.
If the current momentum continues, the market will continue to focus on the previous high of $0.000123 and the next higher level of $0.000143.
