As a seasoned crypto investor with a keen interest in Terra Classic (LUNC), I’m keeping a close eye on the latest developments within the community. Based on my analysis and experience, I believe that recent announcements such as the potential Coinbase relisting and upcoming upgrades could pave the way for a LUNC bull run.
The future of Terra Classic relies heavily on boosting the value of LUNC and USTC tokens. One significant step towards this goal is the implementation of the Inter-Blockchain Communication (IBC) client, which will enable compatibility between the Terra Classic network and other platforms like Kujira. According to current technical analysis, there’s a strong possibility for a substantial bullish trend in LUNC prices during May and the following months.
Terra Classic Community Developments Could Pave The Way for LUNC Bull
Recent speculation suggests that Coinbase might restart LUNC (Terra Classic) support based on rising staking activities and heightened market engagement reportedly observed in this cryptocurrency.
As a crypto investor, I’m keeping a close eye on the potential relisting of Terra Classic (LUNC) on Coinbase. This news could trigger fear of missing out (FOMO) among investors and accelerate the token’s price movement above $0.001. Based on current price predictions, LUNC was hovering around $0.0001022 on Wednesday.
Despite a surge in community engagement, Terra Classic has followed the broader trend of cryptocurrencies where significant price shifts are rare. A 1% decrease in value over the past 24 hours, along with a 10% drop in trading volume to $20.4 million, reflects waning investor enthusiasm.
As a researcher, I’ve observed that Terra Classic experienced a decline of 3% in its market capitalization, bringing it down to approximately $592 million based on the latest CoinMarketCap statistics. Ranking at number 111 among other cryptocurrencies, it holds a significant yet noteworthy position within the digital currency landscape.
Experts have shared exciting news about an significant update coming for the LUNC token. This development is predicted to fuel a robust surge in its value, potentially reaching the desired mark of $0.001.
Additionally, there was approval for modifying the LUNC burn tax. The objective is to fine-tune this tax through the Oracle Pool, ultimately improving network performance.
LUNC Price Prediction: Fighting For A Breakout
The price of Terra Classic has vigorously held its ground at the $0.0001 mark, as depicted on the daily chart. A resurgence from this level is growing stronger, with LUNC potentially breaking through the resistance at $0.0001060, indicated by the 20-day Exponential Moving Average (EMA), represented by the blue line superimposed over the graph.
With an RSI of 45 and its capacity to rebound above the median line, the bullish sentiment grows stronger for LUNC. If the RSI manages to surpass the trendline resistance, it could spark significant price increases for LUNC, potentially exceeding $0.001.
When the 50-day Exponential Moving Average (red line) on the chart recently dropped below the 200-day Exponential Moving Average (purple line), this signified that selling pressure has become more prominent than buying pressure. In the uncertain crypto market, this death cross pattern serves as a significant warning for investors to exercise caution and consider selling positions.
Traders need to prepare themselves to implement Dollar Cost Averaging (DCA) if the price of LUNC falls to or reaches the $0.0001 support level. Bear in mind that there is a potential double bottom support at approximately $0.00008 as well.
As a crypto investor, I’m excited about the potential upside of LUNC. If we manage to see a break above the current trendline, it could be a strong indicator that the double-bottom pattern is valid. This bullish sign might propel LUNC 66% higher, providing substantial returns for those who have been holding or are considering entering this investment.
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2024-05-15 16:24