Luna Classic (LUNC), the cryptocurrency that now largely powers the original Terra blockchain, has been technically in an uptrend since last March, indicating potential price strength ahead. price prediction Thus are somewhat bullish, at least in the short term.
Earth The blockchain experienced mayhem in May 2022 when its UST algorithmic stablecoin token dropped from its 1:1 value to the US dollar, leading to hyperinflation in LUNC, the token that had acted as collateral for it.
LunchWhat once traded with three digits now trades with three zeroes in front of its decimal point.
In fact, Lunch/USD was last changing hands in the $0.000126 area, with each coin nearly worthless versus the May 2022 fall to the $120 area before.
But in the short term, things are looking up Lunch,
The coin is currently trading in the $0.0001160 area, up about 8.8% from last month’s low, with the price action supported by short-term technical uptrends over the past few weeks.
As of Tuesday, LUNC has managed to move back north of its 21DMA.
Price Prediction – Where’s Next for LUNC?
The short-term momentum seems to be building for a rally towards the first monthly high above $0.00013 and a possible break above the 50DMA.
This could open the door for a possible short-term upside move towards the support-resistance area at $0.00014 area and a possible move towards the resistance at $0.000155 area.
Is It Time to Buy LUNC?
Anything is possible in the cryptocurrency markets and if the broader cryptocurrency bull market continues to roar, it is certainly possible that LUNC could mount its late 2022 high above $0.0005 again.
But investors should be very cautious about buying LUNC, as it is a highly speculative asset with no fundamental value at this point in time.
A small community continues to support the token, mainly those who could not let go of what was lost during the Terra catastrophe last May.
But most of the developers and investors are working on other projects.
The outlook for the revival of a viable Web3 ecosystem on the original Terra blockchain is thus very poor, meaning that LUNC’s long-term prospects are poor.
Investors could do much better by considering investing in established blue chip cryptocurrencies like Bitcoin and Ethereum, other established altcoins, or perhaps if they have a higher risk tolerance, token presales.
Indeed, despite being risky, token presales have historically been the best way for crypto investors to generate exponential returns.
Luna Classic (LUNC) and Blue-Chip Crypto Alternatives to Consider
While blue-chip cryptocurrencies may continue to perform well in the months and years ahead, investors should always be looking to diversify their crypto holdings.
One high-risk-high-reward investment strategy that some investors may consider is getting involved in crypto presales.
This is where investors buy tokens of up-start crypto projects to help fund their development.
These tokens are almost always sold very cheaply and have a long history of pre-sales providing huge exponential returns to early investors.
Many of these projects have great teams behind them and a great vision to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/reward of their pre-sale investment is great.
The Cryptonews team spends a lot of time on pre-sale projects to help investors.
Here is a list of 15 that the project considers to be the best crypto pre-sales of 2023.
Disclaimer: The Industry Talks section features insights by crypto industry players and is not part of the editorial content of 0x0news.com.