Terra Luna Classic Price Prediction as LUNC Pumps Up 20% – $1 LUNC Incoming?
Despite the fact that broader cryptocurrency markets are flatlining into the year’s end amid low volumes, with many traders and big market players taking holidays, LUNC is seeing a pump. LUNC is the cryptocurrency that powers the still functioning original version of the Terra blockchain and was last trading higher by about 25% on the week just to the north of the $0.00018 level. The cryptocurrency’s near-term technical outlook recently took a turn for the better and, as a result, price predictions are becoming more bullish.
LUNC’s latest rally looks to be as a result of a technical breakout from a downtrend that has been in play since early October. The latest surge, which has seen LUNC jump above $0.00018 from around $0.000145 at the start of the week, has seen the cryptocurrency vault above its 21, 50 and 200-Day Moving Averages at $0.000154, $0.000163 and $0.000179 respectively.
LUNC bulls have likely hit their first profit target since the breakout from the medium-term downtrend. The $0.0001850-$0.00019 area has been an important area of support-turned-resistance since late September. The bulls were unable to push LUNC above this area, suggesting that profit-taking is becoming more of a headwind. That could result in LUNC dipping back towards support in the low-$0.00016s in the near term.
However, the medium-term outlook for LUNC does look a little better in wake of the recent break-out, meaning dip-buyers might jump on any retracement back to the $0.00016 area. If the bulls can muster a lasting break above $0.000185-19 resistance, that could open the door to a push higher towards the next major area of resistance around $0.00028.
A popular question is whether LUNC can return as high as the $1 level. That’s because,
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