Terra’s downward trend is expected to continue, according to the LUNA price prediction. Will LUNA Find an Anchor for a Bullish Move?

Despite having remarkable crypto-native services, the Terra (LUNA) blockchain’s demise forced it to lose its position as one of the most recognizable crypto brands. Investors were provided with algorithmic stablecoins, a strong DeFi network, and a yield-generating service through Anchor Protocol.

After the collapse in early 2022, Terra separated into Terra Classic and the Terra blockchain, with the latter now carrying the LUNA brand but having only moderate success. LUNA has fluctuated along with the larger market, increasing and decreasing when Bitcoin, the most popular cryptocurrency, fell to $1.18.

Enterprise Protocol is introduced by Terra

The introduction of Terra’s Enterprise Protocol v1.0, a user-friendly tool for establishing and running decentralized autonomous organizations (DAOs) without requiring a high level of technical expertise, has been announced.

With a few clicks, anybody can easily launch a DAO, a token DAO, a multisig wallet, or an NFT DAO using the protocol. Users are given more freedom and control over their decentralized organizations as a result, allowing them to simplify their processes and take better decisions.

Since Enterprise is a no-code solution, customers do not require a high level of technical knowledge to construct and administer their DAOs. This is one of the key advantages of the product. This makes blockchain technology and the advantages it offers more widely available, enabling more individuals to take part in the developing cryptocurrency ecosystem.

The Terra blockchain, which is renowned for having quick transaction speeds and minimal costs, serves as the foundation for the Enterprise Protocol as well. The ability to construct and administer DAOs effectively and affordably makes it a desirable alternative for consumers.

Luna’s Value Drops: A Look at Terra’s Cryptocurrency’s Recent Trends

With a 24-hour trading volume of $42,204,748 and a price of $1.27, Terra (LUNA) is now the most actively traded stock. This shows a price gain of 0.87% over the previous day but a decrease of -1.28% over the previous week. Based on its current circulating supply of 240 million LUNA, Terra has a market capitalization of $309,207,587.

A $37,114,402 trade volume over the last 24 hours on Terra suggests an uptick in recent market activity. This is a notable rise of 47.60% from the trade volume of the prior day.

The peak price of Terra, $18.87, was reached on May 28, 2022, or almost 10 months ago. The current price is 93.29 percent less than the peak. On the other hand, the lowest price point of $1.19, which occurred almost 4 months ago, was noted on December 16, 2022. This all-time low price is now 6.08% more expensive.

With a price decrease of -1.60% over the last week, Terra has outperformed the -1.20% decline witnessed by the whole cryptocurrency market.

LUNA Technical Analysis and Price Prediction

For the most of March, LUNA’s price has been fluctuating. But after the bulls fought hard to gain ground, it appears that the bears have driven the price down. This suggests that the price may be in a negative trend for some time.

LUNA/USDT chart Analysis. Source: Tradingview.com

In addition, both the 200-day and moving averages are trading below the price of LUNA. The LUNA chart suggests that it will take a while before it reaches its peak of $1.6. Our price forecast, however, indicates that LUNA might rise to $1.45 in the month after the events.

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