Terra Luna Classic surged to $0.00016897 today, up 1% over the past 24 hours, as the cryptocurrency market recovered from recent losses. This price reflects a 9% drop over the past week and a 6.5% drop over the past 30 days as LUNC hovers between recovery and relapse.
However, today’s volatility has enabled LUNC to reclaim its $1 billion market cap, which it lost over the weekend. And with its 24-hour trading volume also returning to $100 million, its market has enough liquidity to feed further growth in the near future.
Terra Luna Classic Price Predictions Top $1 Billion As LUNC Market Cap Explodes – Time To Buy?
LUNC’s indicators suggest that it is recovering from its recent losses, with both key indicators indicating potential rallies. Its Relative Strength Index (purple) has increased from 20 to 50 over the past few days, which means that buying momentum could pick up and push the price further.
Meanwhile, LUNC’s 30-day moving average (red) has turned up again after breaking below its 200-day average (blue). Again, this suggests that a positive movement may be coming.
LUNC’s day-to-day growth comes as its trading volume surged from a low of $47 million over the weekend to over $100 million yesterday. This is another sign that a rally is coming, and that now may be a good time to buy.
In terms of levels, it will be interesting to see if LUNC can break the $0.00017 resistance area. If this can happen then a longer rally may be possible.
As far as fundamentals go, there are plenty of reasons to be optimistic if you’re a LUNC holder. Notably, the now accepted proposal to re-peg USTC is very bullish for the altcoin, as is its sister stablecoin re-peg. LUNC tokens will need to be burned in mass,
As its authors write, the approved proposal “emphasis on LUNC and USTC designing a more efficient system that can cost more than the tax rate.” So, the medium to long term would mean that LUNC’s burn total — which is currently 39 billion – will increase significantly.
And it really is needed, because with a circulating supply of 5.9 trillion, there is so much LUNC in the market that it could experience a substantial price increase anytime soon.
However, there is no doubt that the Terra Luna Classic community is working hard to bring down this massive total. Recent months have seen a range of different proposals formation of task force Terra Luna Classic aims to boost growth and adoption by increasing the minimum commission (for validators) to 5% (which may result in more LUNC burning).
Whereas Division within the Terra Luna Classic community remains, it is clear that the overriding focus is on making the Terra Luna Classic network more usable, as well as burning more LUNC and increasing its value.
Because of this, the overall long-term picture for LUNC is positive. There is a good chance that it may return to $0.0002 in the next few months, with a rally to $0.0003 possible by the second half of the year.
To reach the full number, it is clear that the re-peg proposal will have to be fully realized before altcoins can make significant progress in this regard – along with trillions of LUNC burned. Still, the groundwork for such progress has already been laid, so it may only be a matter of time.
High-potential LUNC alternative
Because LUNC may not continue to grow rapidly until the more distant future, traders may prefer to look elsewhere for profits in the meantime. There are other high-potential coins in the market at the moment that have better prospects, so we’ve reviewed them in our list of the top 15 cryptocurrencies for 2023, as analyzed. crypto news Industry Talk Team.
The list is updated weekly with new altcoins and ICO projects, so be sure to check back for new entries.
Disclaimer: The Industry Talks section features insights by crypto industry players and is not part of the editorial content of 0x0news.com.
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