LUNC, the native token of the now largely defunct original Terra blockchain, is gaining some ground. When the value of its UST stablecoin depegged from the US dollar and caused hyperinflation in the LUNC token, it had a catastrophic effect on its Decentralized Finance (DeFi) trade value locked (TVL), developers, and community members. On Monday, prices in the cryptocurrency market are slightly higher, although the majority of the top cryptocurrencies are still trading within previous ranges.
Given that 1) most traders and market participants will be away from their desks celebrating the end of the year, and 2) there will be a flood of significant US tier 1 data releases from Wednesday through Friday, big breakouts in the next two days are improbable. Traders are unlikely to want to place large bets ahead of the busy macro agenda in the later part of the week, so it’s possible that LUNC won’t experience much volatility.
For what it’s worth, LUNC/USD was last trading just above $0.00015, just north of its 21DMA, and up more than 10% from the lows of last week, which were just around $0.00014. Bulls are focusing on a test of the 50DMA near $0.00015, which, if broken, could pave the way for a rise higher toward the 200DMA just above $0.00018.
Today’s Lunc Price
Luna Classic’s price today is $0.0001544 USD
| DATE | Luna Classic | USD |
|---|---|---|
| Today | 01 |
$ 0.0001544
|
Terra Luna Classic Price Prediction
Price forecasts for the near future are optimistic for LUNC. This is due to the fact that the technical picture is improving in light of the cryptocurrency’s recent recovery at a significant medium-term support level. The latest rebound indicates that the bulls are getting ready to make a move higher toward the $0.000185-19 balancing level. A break above these levels and the $0.00020 mark might pave the way for a stronger ascent toward the $0.00035 region’s early-November highs.
There is a chance that a positive movement in macro mood (if the Fed shifts to an easing rather than tightening stance) might rekindle risk appetite in cryptocurrency markets, which would have an impact on the overall direction of cryptocurrencies for the rest of the year. As traders rush back into risky altcoins, this might boost LUNC. It’s uncertain, though, whether LUNC will be a significant cryptocurrency success. The original Terra project is currently thought to be mostly dead, and it doesn’t appear probable that it will soon offer any new functionality to the cryptocurrency field.
Investors may want to have a look at alternative cryptocurrencies with superior value propositions. Here is a list of a few top-rated companies that are now offering discounted token pre-sales, giving early investors a special chance to make quick, exponential gains.
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