Terra Luna Classic Price Prediction: LUNC Market Cap Booms Above $1Billion – Time To Buy?
Today’s Terra luna classic price has reached $0.00016897. This is a 1% increase in 24 hours as the cryptocurrency market recovers. This price represents a 9% decline in the past week, and a 6.5% decrease in the last 30 day as LUNC struggles between recovery and relapse.
Today’s movements allowed LUNC to regain its $1 billion market capital, which it had lost this weekend. With its 24-hour trading volume returning to $100 millions, there is enough liquidity in its market for further increases in the near future.
Terra Luna Classic Price Prediction: LUNC Market Cap Booms Above $1Billion – Time To Buy?
LUNC’s indicators indicate that it may be recovering from recent losses. Both main indicators are signalling potential rallies. Its relative strength (purple) index has increased from 20 to 50 over the last few days. This means that buying momentum could be increasing and pushing its price further.
LUNC’s 30-day moving mean (red) has risen again, after falling below its 200 day average (blue). This suggests that positive change may be on the horizon.
LUNC’s rise today is due to its trading volume rising from a weekend low of $47 millions to above $100 million yesterday. This is yet another indication that a rally may be imminent and that this could be a good time for you to invest.
It will be interesting to see if LUNC breaks through the $0.00017 resistance level in terms of levels. A longer rally might be possible if it can.
Fundamentally, there are many reasons to be optimistic if a LUNC owner is a holder. The accepted proposal to repeg USTC is a positive sign for altcoins, as it will re-peg its sister stablecoin. This would require a large-scale burning of LUNC tokens.
According to the authors, the proposal is “designed to make LUNC and USTC more efficient so that they can burn more than the tax rates can,” The medium-to-long-term will likely see LUNC’s total burn — currently at 39 billion — Will rise significantly.
It really should, as there is a circulating supply in excess of 5.9 trillion. This means that the market has too many LUNC to see significant price increases anytime soon.
There is no doubt that Terra Luna Classic is working hard at bringing this huge number down. There have been many proposals in recent months, ranging from the Establishment of a task force Designed to encourage Terra Luna Classic adoption and development, the minimum commissions for validators were raised to 5%. This could lead to more LUNC burning.
While Terra Luna Classic has division It is clear that while LUNC remains a priority, the main focus is on increasing its price and burning more LUNC. While Terra Luna Classic remains more accessible,
LUNC’s long-term outlook is therefore positive. It is possible for it to recover to $0.0002 within the next few months. A rally of $0.0003 could be possible in the second half.
It is clear that in order to reach whole numbers, the re-peg proposal must be fully implemented — along with the burning trillions of LUNC — before altcoin can make any significant progress. It is possible that this progress will only happen in the future, but the foundations have already been laid.
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Alternatives to LUNC with High Potential
LUNC is unlikely to rise exponentially in the near future so traders might prefer to find other opportunities for profits. There are many other coins with higher potential that have greater prospects at the moment. We’ve reviewed these in a list containing the top 15 cryptocurrencies in 2023. CryptoNews Industry Talk team.
This list is updated every week with new altcoins or ICO projects. Make sure you check back often for new entries.
Disclaimer: The Industry Talk section contains insights from crypto industry players, and is not part of Cryptonews.com’s editorial content.