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

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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 fingers within the $0.00017s, a bit beneath latest highs within the $0.00019s, with the bulls nonetheless struggling to push the cryptocurrency again to the north of its 100 and 200-Day Shifting Averages.

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

The place Subsequent For LUNC?

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

In the meantime, although the 100 and 200DMAs are nonetheless offering resistance, LUNC’s 50 and 21DMAs are actually offering assist. The final 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 soar to the subsequent main resistance space round $0.00027.

LUNC to $1.0 in 2023?

Whereas the near-term outlook for LUNC seems to be fairly good, a check of $1.0 in 2023 is unlikely, except the Luna Basic 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 Basic is unlikely to ever attain a $7 trillion market cap, not least as a result of the blockchain’s complete web3 ecosystem was obliterated in mid-2022 when UST depegged from the US greenback and triggered hyperinflation in LUNC.

However can a continued rise within the broader cryptocurrency area push LUNC again in direction of its highs from final 12 months within the $0.0006 space? Why not, cryptocurrency markets are a loopy speculation-driven place.

LUNC Alternate options

In case you’re searching for different high-potential crypto tasks alongside LUNC, we have reviewed the highest 15 cryptocurrencies for 2023, as analyzed by the CryptoNews Business Discuss crew.

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

Disclaimer: The Business Discuss part options insights by crypto business gamers and isn’t part of the editorial content material of Cryptonews.com.

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