Terra Luna Classic (LUNC), the cryptocurrency that powers the original Terra blockchain, experienced mayhem after its corresponding algorithmic “stablecoin” UST lost 1:1 against the US dollar last May, Thursday. CO was trading almost flat in the $0.000085 area. ,
But LUNC has formed a potentially bullish chart pattern that LUNC holders are praying could trigger a much-needed recovery for the cryptocurrency’s price.
LUNC has spent the past few weeks consolidating within a wedge structure, while also finding resistance at its 21-day moving average.
Should it be able to respond to the pennant structure and break its 21DMA, a bullish retracement towards the support-resistance-resistance in the $0.0001160 area is likely, roughly 36% higher versus current levels.
But price prediction Stay downbeat for now.
after all, Lunch Still stuck below its 21DMA and could easily break south of the pennant structure.
This would open the door for a retest of yearly lows in the $0.00008 area and a longer decline towards the June 2022 low in the $0.000035 area.
the basics are definitely not working luncheon Kindness.
Readers may recall that, when the UST lost its 1:1 peg to the US dollar last May, it triggered a “bank run”, leading to the so-called “death spiral“In Lank.
Lunch Holders lost everything because the supply was too high as UST owners largely redeemed their UST tokens through the protocol’s mint-burn mechanism.
The Terra ecosystem saw an exodus of almost all its capital, users and developers and never recovered.
LUNC represents a long dead and disappearing crypto network – the May 2022 disaster dealt a fatal blow to the Terra project and its credibility and LUNC holders may still want to consider giving up and selling.
An Alternative To Consider Terra Luna Classic (LUNC) – yPredict (YPRED)
Predicting price movements in the cryptocurrency market is difficult, even with years of experience in understanding macro, crypto fundamentals, and technical analysis.
artificial intelligence (oh) technology, which has been making significant advances in recent months, can help.
AI models can analyze large amounts of price data to identify trends that would have gone unnoticed by the human eye.
Good models can give traders a valuable market edge.
Thus it is hardly surprising that new crypto start-up yPredictionWhich is building a revolutionary new AI-powered trading signals platform, creating massive hype in the crypto space.
Using state-of-the-art predictive models and data insights built by top 1% AI developers and quants, YPredict’s in-development platform plans to hand market participants an “unbeatable edge”.
The platform will provide users with AI trading signals, real-time social and news sentiment analysis, AI technical analysis and AI-powered chart pattern recognition.
To fund the development of its exciting platform, yPredict is conducting a pre-sale of the already hugely popular YPRED crypto token which will be used to power its platform.
Already in phase five, the presale is approaching the $2.0 million mark, which is an amazing feat considering the presale launched just a few weeks ago.
Interested investors should move quickly to secure the tokens while they are still cheap at $0.09 each.
When the pre-sale reaches $2.982 million and enters its next phase, that price will increase by 11.5% to $0.1.
YPRED token is set to be listed on major crypto exchanges later this year at $0.12.
This means that investors who enter now will be sitting on paper gains of around 33% during the YPRED ICO.