Terra Luna Classic, the cryptocurrency that powers the original Terra blockchain protocol Collapsed Algorithmic stablecoin to follow Terra in value in May 2022 ast Lost its 1:1 peg to the US Dollar, moving sideways this week. Cryptocurrency markets are currently in wait-and-see mode ahead of a speech from Fed Chair Jerome Powell, which could trigger fresh volatility after a more dovish-than-expected last week. fed policy meeting,
LUNC/USD last changing hands just above $0.00018, practically unchanged on the week, the cryptocurrency still appears to be in a medium-term uptrend since the mid-December lows. If the uptrend continues to hold, it would mean that LUNC could continue grinding higher in the coming weeks and potentially rally back north of $0.00020. price prediction Thus the momentum is maintained.
In the near term, technical buying could provide some support to the bulls if LUNC/USD is able to break north of a pennant structure that has formed over the past few days. However, technicians warn that a bearish breakdown of the current emerald structure could lead to a decline towards the 21- and 100-day EMAs in the $0.00017-1750 area in the near-term.
Crypto experts give their LUNC price forecast
Popular crypto technical analyst Mind Math Money speculates that if LUNC can break above its near-term pennant structure, it could open the door for a potential run towards the $0.000277 area. If LUNC can post a daily candle above this resistance level, Mind Math Money continued, the cryptocurrency could continue its rally towards the next key resistance area around $0.00037.
Elsewhere, fellow crypto YouTuber Crypto King, who is also a validator for the Terra Luna Classic network, highlighted how he expects 1 trillion LUNC tokens to be burned in the coming years. With constant blockchain upgrades deflating the LUNC supply and the expected arrival of new projects into the ecosystem it is good that LUNC should drop some zero in the next few years.
Is It Too Late to Buy a Terra Luna Classic (LUNC)?
asking what too late to buy Property is never the right question. The answer is always never. The right question is whether a property should be bought or not. And it depends on how an investor measures its long-term price performance outlook.
Based on your own research, it’s probably worth some buying if you believe that the price of LUNC is likely to increase significantly in current years. Otherwise stay away.
LUNC option
If you are looking for LUNC as well as other high-potential crypto projects, we have reviewed the Top 15 Cryptocurrencies for 2023, as analyzed. crypto news Industry Talk Team.
The list is updated weekly with new altcoins and ICO projects.
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