All eyes are on LUNC, which has lately had a 1.3% spike over the past 24 hours, as the cryptocurrency market continues to experience volatility.
Investors and traders alike have been paying close attention to LUNC, with many speculating as to whether it could be able to surpass its previous all-time high (ATH) following a recent decline in price. Can LUNC, however, set a new record high?
LUNC Seeks Partnerships for Projects
Only one of the 27 projects listed on our network is now operational and not native to the chain, which is significant given the necessity for liquidity on $LUNC. This story can lead someone to believe that all L2 utility is useless and takes money away from L1 (in this example, LUNC).
Any project attempting to launch on our chain will face the same problems; they are not exclusive to Terra. We have to think of Terra as a tool that enables others to expand on our blockchain, not as the main coin for this chain. The main cryptocurrency is now and will always be LUNC.
Price of Terra Luna Classic (LUNC) and Market Activity as of April 5, 2023
In the previous week, the price of LUNC has increased by 1.82%, and in the past 24 hours, it has increased by 1.30%.
Although there is now a minor downward trend in the cryptocurrency market, the long-term forecast for LUNC is still positive, with a possible price objective of $0.00029 by 2024.
Terra Luna Classic’s current market capitalization is $733,158,474 and its total supply in circulation is $589,342,111,033.11. The price of Terra Luna Classic (LUNC) is now $0.00012413, and its 24-hour trading volume is $42,270,822. This is a price increase of 1.85% over the previous week and a daily increase of 1.38%.
With 5.9 trillion LUNC in circulation, Terra Luna Classic has a market valuation of $731,242,403. On April 5, 2022, which was already one year ago, Terra Luna Classic (LUNC) reached its all-time high price of $119.18. The current price is 100.00% less than the all-time high in comparison.
In a same vein, Terra Luna Classic’s all-time low price, which occurred 11 months ago on May 13, 2022, was $0.000000999967. The present cost is 12,338.83% more expensive than it has ever been.
The price of Terra Luna Classic (LUNC) has increased by 1.80% over the past week, which is less than the 2.10% growth seen by the whole cryptocurrency market. Additionally, with a 6.60% gain, Terra Luna Classic is lagging other cryptocurrencies that use comparable smart contract platforms.
Analysis of the LUNC/USDT Indicator: Price Prediction
The price of LUNC has risen from the lowest support level, but is still in a consolidation period. According to the examination of this chart, LUNC’s price is still a long way from the intended outcome. The excellent rising trend that LUNC has displayed over the previous week indicates that the bulls will work harder to drive the price higher.
Additionally, LUNC’s price is now trading below both the 50-day and 200-day moving averages, demonstrating that in order for confirmation of the bullish rising trend to continue, the price must break above the moving averages.
A modest upward movement is also visible in the relative strength index over the 50-level threshold. By the end of Q2 of 2023, we can anticipate that the price of LUNC will reach $0.0001526 based on the study above and the fundamental analysis of LUNC.
