Terra Luna Classic Price Prediction – Can LUNC Hit $3 in 2023?
LUNC, a token valued at approximately $1 billion on Terra Classic protocol is getting closer to a 17.54% move which could propel it to $0.00021. The 50th largest cryptocurrency’s price has risen 6.5% in the past 24 hours to $0.0001775 as of the writing.
According to CoinMarketCap data, investors are preparing for the outcome by taking up new positions within LUNC. This is according to CoinMarketCap data, which shows a 48% increase in 24-hour trading volume to $100 millions.
An increase in trading volume is a sign that investors are excited about the asset. This could indicate that the token is bullish. High volumes indicate that demand for LUNC has been rising, which could be a sign of a sustained uptrend.
Terra Luna Classic Price at the Cusp of 17.54% Movement
Terra Luna Classic Price dances at the apex a symmetrical triangular pattern and is ready to fly above its immediate resistance. This was observed at $0.00018 (in purple) in confluence of the 200-day Exponential moving average (EMA).
Market participants who trade the symmetrical triangular pattern for the first-time may need to be aware that the pattern forms when the price moves into tighter and tighter ranges, culminating in a fierce fight between bears and bulls.
Below is a four-hour chart showing Terra Luna Classic price consolidation within the bounds of two trendlines: one connecting higher lows and one linking lower highs.
Terra Luna Classic price is on the verge to breakout, provided bulls win the battle against the resistance of the triangle and push through it. This will be reinforced by the 200-day EMA. Orders can be placed slightly higher than the trendline slope for traders. Investors would like to cash out at $0.00021 after the breakout.
The Moving Average Convergence Divergence indicator (MACD), can provide insight that supports the bullish narrative for LUNC prices. As the MACD line in yellow flips above the signal line, you can see a buy signal that has been sustained since January 1.
The momentum indicator can be clearly seen moving into the positive zone above the mean line (0.00). The bullish histograms in the chart may also support a bullish outcome. Analysts believe Terra Luna Classic’s price is poised to move higher, with the short-term target of $0.0001758.
Terra Luna Classic has been aggressive in championing bullish LUNCs. TargetNodes, for instance, thanked Twitter users for “holding onto the support line & pushing them back up” and said that the most difficult task is to push “it to horizontal resistance which is $0.00019.”
BinanceUS to support LUNC?
Terra Luna Classic has been lobbying for a listing on BinanceUS. This is Binance.com’s subsidiary. It is the largest cryptocurrency exchange in terms of daily trading volume. A listing on BinanceUS would allow LUNC to be seen by a wider audience in America and could help drive Terra Luna Classic’s price rise.
Investors will be interested in Terra Luna Classic tokens that are considered affordable as Terra Luna Classic prices recover. To maintain user interest, a move above $0.00018 will be necessary. A break above $0.0002 or the triangle target at $0.00021, could increase LUNC’s price to ‘eat another zero’ and begin a recovery phase above $0.001.
Whether LUNC will reach $3 in 2023 is dependent on how the crypto market behaves over the year. Terra Luna Classic’s token burning program will greatly contribute to the ability of the price to rally over time.
Getting listed on BinanceUS will also give LUNC price a huge boost – consider it the fast mover’s advantage. However, investors could benefit from short-term recovery periods like the expected move to $0.00021 to gain gains.
Terra Luna Classic: Should You Buy It?
You might want to look at other high-potential crypto projects before you make an investment in Terra Luna Classic.
We have reviewed the top 15 cryptocurrency for 2023 as analyzed and ranked by the CryptoNews Industry Talk team.
This list is updated every week with new altcoins or ICO projects.
Disclaimer: The Industry Talk section contains insights from crypto industry players, and is not part of Cryptonews.com’s editorial content.
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