LunchCalled Terra Classic, the native token of the original Terra blockchain was an underperformer on Thursday, losing about 5.5% in the past 24 hours. LUNC/USD was last changing hands in the mid-$0.00014 region, down nearly 20% from its previous weekly high of $0.00018, but still up nearly 15% from the monthly low in the $0.000127 area.
The sudden metamorphosis of LUNC in recent days came after the cryptocurrency failed to sustain an attempt north of its 200-day moving average. The fact that the cryptocurrency has now dropped below its 21 and 50DMA also suggests that the near-term technical outlook may not look too bright. But there are reasons to be optimistic and as a result, near-term price forecasts should not be too pessimistic.
Price Prediction – Can LUNC rally in the short term?
LUNC’s latest pullback has seen it come back close to testing the downward trendline that was previously acting as resistance but may now switch to acting as support. This may be enough to encourage the bulls to re-enter the market and start buying on the decline. If so, LUNC could see a short term rally to its recent highs in the $0.00018-20 area
Indeed, a breakout from the downtrend that has dominated LUNC price action since September suggests that the medium-term prospects of the cryptocurrency are looking much better for early 2023. Of course, in the absence of a broader crypto market rebound in early 2023, it will be difficult for LUNC to return to its September highs in the $0.0006 area.
Ready for the LUNC Upside in 2023?
As inflation comes down and the economy weakens, some crypto bulls are hopeful for the Fed to “pivot” towards giving more stringent guidance on their plans for interest rates. This is expected to lead to a massive increase in risk assets including cryptocurrencies such as LUNC.
in this sense if any positive change in macro conditions In the coming months, then, LUNC could be poised to break higher in 2023 alongside the broader cryptocurrency market. But it’s not only macro conditions that could give LUNC a lift in 2023.
The LUNC community recently passed a resolution to change the token economics of LUNC. Since the hyperinflation of May began as a result of the depeg of UST, the LUNC community has been focused on trying to implement mechanisms to reduce the LUNC token supply. But a recent proposal (10983) introduced a new solution where 50% of the burned tokens can be reinstated.
However, earlier this week, another resolution passed to reverse this less deflationary policy, with its proponents arguing that the remining token would deter investment in LUNC. This means that LUNC has reverted to taxing 0.2% of all transactions, 90% of this supply is burned and 10% is sent to the community pool. One Terra Classic supporter said this could encourage Binance to continue with its monthly LUNC burn.
Altcoins to consider
With the broader cryptocurrency markets underperforming in recent weeks, investors may be looking to diversify their holdings with pre-sale tokens from promising, up-and-coming cryptocurrency projects.
FightOut (FGHT) – Presale Launch
FightOut, a brand new move-to-earn (M2E) fitness application and gym chain that wants to bring the fitness lifestyle to Web3, has started its pre-sales and investors feel the project will complement the current Web3 M2E landscape. may change. While existing M2E applications such as STEPN only track steps and require expensive non-fungible tokens (NFTs) to participate, FightOut takes a more holistic approach to tracking and rewarding its users for their exercise and activity , and it doesn’t require any costly buy-in to participate.
FightOut’s FGHT tokens are currently selling for 60.06 per 1 USDT, and interested investors are encouraged to act fast to secure their tokens, with pre-sales raising approximately $2.5 million in just a few weeks. have been collected. FGHT is the token that will power the FightOut crypto ecosystem.
Dash 2 Trade (D2T) – Pre-sale enters final phase
Those looking to invest in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up and coming analytics and social trading platform is expected to take the crypto trading space by storm with its unique features.
These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system, and strategy back-testing tools. Dash 2 Trade’s ecosystem will be powered by D2T tokens, which users will need to purchase and hold in order to access the platform’s features.
Dash 2 Trade is currently conducting a token pre-sale at deeply discounted rates and sales recently exceeded $11.3 million. The pre-sale dashboard is going to be released soon, currently the development team is running ahead of schedule. The tokens are currently selling for $0.0533 each and will be listed on multiple centralized exchanges within a month.
Calvaria (RIA) – Final pre-sale phase now
Major blockchain-based games such as Axis Infinity have lost significant traction in 2022. As a result, many investors interested in the crypto gaming space are looking for alternative avenues. Calvaria, an emerging play-to-earn battle card crypto game, could be a good option. Calvaria seeks to promote crypto adoption by creating a bridge between the real world and crypto, a fun and accessible crypto game.
Investors should consider Calvaria’s RIA Token Pre-Sale. Calvaria has now raised $2.6M, following a $97.5K purchase from a crypto whale earlier this month. The pre-sale is in its final stages, with only 16% of the tokens left.
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