Terra Luna Classic Price Prediction as LUNC Pumps Up 48% From Recent Lows – $1 Incoming in 2023?

LUNC, the ticker for the Luna Classic cryptocurrency that powers the unique, however now largely defunct Terra blockchain, is up a powerful greater than 40% from the lows it printed again in December beneath $0.00013. LUNC/USD was final altering arms in the $0.00017s, slightly beneath current highs in the $0.00019s, with the bulls nonetheless struggling to push the cryptocurrency again to the north of its 100 and 200-Day Moving Averages.

But short-term price predictions stay cautiously optimistic, with the cryptocurrency’s near-term technical outlook pretty optimistic.

Where Next For LUNC?

Earlier this month, LUNC/USD broke to the north of a longer-term downtrend that had been capping its value motion going all the best way again to early October. The cryptocurrency additionally seems to be in an upwards pattern channel that has been in play since mid-December.

Meanwhile, although the 100 and 200DMAs are nonetheless offering resistance, LUNC’s 50 and 21DMAs at the moment are offering assist. The normal technical image thus suggests {that a} shopping for strain is constructing and a break above the 100 and 200DMAs is a chance. The $0.00019 space is a key zone of resistance. A break above it may set off a swift leap to the subsequent main resistance space round $0.00027.

LUNC to $1.0 in 2023?

While the near-term outlook for LUNC seems fairly good, a check of $1.0 in 2023 is unlikely, except the Luna Classic group implements huge modifications to the cryptocurrency’s tokenomics. That’s as a result of, at current, there are near 7 trillion LUNC tokens in circulation.

Most would agree that Luna Classic is unlikely to ever attain a $7 trillion market cap, not least as a result of the blockchain’s whole web3 ecosystem was obliterated in mid-2022 when UST depegged from the US greenback and triggered hyperinflation in LUNC.

But can a continued rise in the broader cryptocurrency area push LUNC again in the direction of its highs from final yr in the $0.0006 space? Why not, cryptocurrency markets are a loopy speculation-driven place.

LUNC Alternatives

If you are searching for different high-potential crypto initiatives alongside LUNC, we have reviewed the highest 15 cryptocurrencies for 2023, as analyzed by the CryptoNews Industry Talk workforce.

The checklist is up to date weekly with new altcoins and ICO initiatives.

Disclaimer: The Industry Talk part options insights by crypto trade gamers and isn’t part of the editorial content material of Cryptonews.com.


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About the Author: Daniel