The price of Terra Luna Classic has increased to $0.00016897 as of right now, culminating a 1% increase over the previous 24 hours as the cryptocurrency market bounces back from recent losses. As LUNC balances between recovery and relapse, this price represents a drop of 9% over the last week and a decline of 6.5% over the past 30 days.
However, today’s trading has allowed LUNC to regain its lost $1 billion market worth over the weekend. Additionally, with its 24-hour trading volume reaching $100 million, the market has ample liquidity to support future increases.
Today’s Lunc Price
Luna Classic’s price today is $0.000175 USD
| DATE | Luna Classic | USD |
|---|---|---|
| Today | 01 |
$ 0.000175
|
Terra Luna Classic Price Prediction
The indicators for LUNC point to a potential recovery from recent losses, with both of the primary indicators indicating potential rallies. In the last few days, its relative strength index (purple) increased from 20 to 50, indicating that the purchasing momentum could pick up and drive its price higher.
In addition, the 30-day moving average (red) for LUNC has resumed its upward trend after deviating from its 200-day average (blue). This again signals that a change for the better could be on the horizon.
With its trading volume increasing from a low of $47 million over the weekend to over $100 million yesterday, LUNC is up today. This is one another indication that a rally may be on the horizon and that it could be wise to buy now.
It will be fascinating to see if LUNC can overcome the $0.00017 resistance level in terms of levels. If so, a rally that lasts longer might be feasible.
If you own a LUNC, you have several good reasons to feel upbeat about the fundamentals. The now-accepted plan to re-peg USTC is particularly positive for the alternative currency because doing so would require burning a significant amount of LUNC tokens.
The accepted idea calls for “creating a more efficient mechanism for LUNC and USTC that can burn more than the tax rate can,” according to its authors. As a result, it is anticipated that LUNC’s burn total, which is currently 39 billion, will increase significantly over the medium-to-long period.
And it really needs to because there is just too much LUNC in circulation—5.9 trillion—for it to see significant price increases any time soon.
There is little doubt, though, that the Terra Luna Classic community is making a serious effort to reduce this enormous number. There have been many different recommendations in recent months, ranging from the creation of a task force to promote Terra Luna Classic development and acceptance to the increasing of the minimum commissions (for validators) to 5%. (which could result in more LUNC burning).
While there is still disagreement within the Terra Luna Classic community, it is evident that the major goals are to burn more LUNC, increase its value, and improve the Terra Luna Classic network’s usability.
As a result, LUNC’s longer-term outlook is generally favorable. It’s likely to bounce back to $0.0002 in the next months, with a rebound to $0.0003 maybe occurring by the second half of the year.
Before the cryptocurrency can really advance towards reaching whole numbers, it is obvious that the re-peg plan will need to be completely implemented, along with the burning of trillions of LUNC. However, the groundwork for such development has already been done, so it might just be a question of time.
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