Join Our Telegram channel to stay up to date on breaking news coverage

Terra Luna Classic’s price took a drop of 28% after an optimistic upwards rally a few days back. Investors now share a concern for the coin’s future, supported by conservative predictions. While some believe the coin will make a comeback in the year to follow. 

Will Terra Luna Classic Make a Comeback in 2023?

Terra Lula Classic has been struggling since its collapse and the team behind the project is doing everything in their power to get the token back to its previous glory. While the previous price values are impossible, the current target for the team is to get the token past $1. 

In an attempt to achieve this target, the company behind the project has resorted to multiple solutions, including partnering with Binance to help reduce the circulating supply of the token. The exchange has a LUNC burn program where it was burning 100% of the spot and margin fees until Wednesday, recent changes have shifted this number to 50%.

At this rate, it’s impossible for the token to rise to $1, which requires the total supply to be somewhere around 880 million, as opposed to the current 6 trillion. The company will have to find other solutions that can help increase the burn rate. 

Ever since the last crash, the company has tried its best to receive community support. And although Binance offering to work with Terra has instilled some confidence, it’s a long way for Terra to host as massive a community as it once did. 

The only way for the token to get past $1 is through the constant support of the community, and efforts from the team to maximize the burn rate, without which reaching the previous all-time high of $119 won’t be the only exaggerated dream for Terra. 

Does LUNC Hold Strong? – Technical Analysis 

LUNC recently displayed an uptrend that was discontinued by a downtrend all within a week, signaling a sellout by traders who’ve had their desired profit. Over the last few months, the support level for LUNC has averaged at $0.00019 since the coin failed to push beyond this level in spite of efforts from the bulls. This could be a result of a lack of confidence in the token due to its history, which may have led investors to take their profits while they can. Refusing to hold their position for a longer period. 

The token has since fallen to and below the $0.00016 support level for the near term, and now that the token is at around where it started the uptrend, it might be fair to expect another way of dip-buying from inventors. If this happens, the token could easily surpass the support level mentioned above, hitting the $0.00019 resistance once again. 

If the token does land at this level, it might create a chance for the token to jump to the next resistance level of $0.00028. Roughly, double of where the token is currently trading. So far, the token price is below its 50-day Exponential Moving Average (EMA) and 100-day EMA as well. While the 50-day EMA of $0.0001521 is relatively close to the current price, the 200-day EMA is miles above at $0.000235. If the price manages to challenge the 50-day and 100-day average, there’s a likelihood of LUNC price going beyond the 200-day average up to the $0.00028 resistance level. 

On a daily trend, the price is showing a bearish pattern and will continue to do so until it hits a solid resistance. While this happens, there’s a chance that the token price will continue a sideways movement before tracing a journey back upwards. If it fails to do so and touches the $0.000138 resistance, there’s a chance the price could drop even further from there. 

While LUNC is making some progress, for now, it’s tough to conclude the coin could reach the $1 point as many investors would like to believe. 

The current token supply of LUNC stands at 6 trillion. At $1, the market cap of LUNC will exceed the current market cap of Bitcoin by 18 folds. This is quite impossible and therefore the rational conclusion would be to expect a longer time frame for LUNC to recover back to $1. 

LUNC is currently trading at $0.0001467, a rough 6% drop from its high today. The market cap of the token stands at $882 million and the trading volume for the day is $113 million. 

Terra Luna Classic Price Predictions: 2022, 2023, 2025, 2030

After analyzing price predictions from multiple sources, we’ve arrived at a few predictions that are likely for LUNC over years. 

Terra Luna Classic Price Prediction for 2022

The LUNA Price has been on a decline over the last few days and now that we’re almost near the end of the year, it’s unlikely to expect LUNC to deliver a spectacular uptrend. The price is expected to stay near $0.00015 unless a surprise purchase before the new year nudges it to $0.00016. 

Terra Luna Classic Price Prediction for 2023

There’s much more room for expansion for LUNC next year if it continues to implement burning mechanisms that help reduce its supply. Along with it, if the project grows its community support and introduces new partnerships and announcements, it could likely head in the direction of $0.0042. However, it’s tough to make an accurate prediction until LUNC’s relative strength index comes out of the oversold zone. 

Terra Luna Classic Price Prediction for 2025

In 2025, Terra Luna Classic could likely remain stable, and increase in price gradually, given the reduction in supply over the years. Our projections put LUNC in the green zone, rationally trading at $0.00068, however, market sentiment might play a strong hand in deciding the price of the token since it has catastrophically suffered historically. 

Terra Luna Classic Price Prediction for 2030

On such a long time scale, predictions are bound to be uncertain. However, if Terra Luna Classic is to ever cross the $1 mark, it should happen by this timeframe. Otherwise, the leftover optimism around the project might shed itself and it would be tough for LUNC to build up from the ground, again. 

Related Articles

FightOut (FGHT) – Newest Move to Earn Project

FightOut token
  • CertiK audited & CoinSniper KYC Verified
  • Early Stage Presale Live Now
  • Earn Free Crypto & Meet Fitness Goals
  • LBank Labs Project
  • Partnered with Transak, Block Media
  • Staking Rewards & Bonuses

FightOut token


Join Our Telegram channel to stay up to date on breaking news coverage



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here