Terra Luna Classic Price Prediction – Can LUNC Hit $10 in the Next Bull Market?
The Terra Luna Classic price has dropped by 0.5% in the past 24 hours, with its current level of $0.00017176 representing a 2% increase in the past week and a 6% jump in the past fortnight. However, with its community still debating future improvements, and with the FTX collapse still weighing down sentiment, LUNC has dropped by 10% in the last 30 days.
Assuming that the Terra Luna Classic community, its developers and validators can agree on a strategy for restoring LUNC to something like its former value, there's every chance that the altcoin could enjoy a strong run during the next bull market. On the other hand, division and disagreement may mean that it continues to stutter between recovery and further losses for some time to come.
LUNC's indicators signal a coin that has been on a decline for the past few weeks, with its 30-day moving average (red) still well below its 200-day average (blue). Likewise, its relative strength index (purple) has fallen to 40, highlighting a shift more towards selling in recent days.
On the other hand, the fact that these indicators are near a bottom likely means that LUNC is due a rebound anytime soon. This may have begun just now, with the coin's slight upwards shift in the past few hours potentially the start of a new short-term rally.
Compared to a couple of weeks ago, LUNC is actually in a fairly decent position, largely because the start of the month brought news of Binance's revealed the results of its latest LUNC burn. According to the exchange, it took nearly 6.4 billion LUNC out of circulation in the past month, something which caused the coin to rise by as much as 19% on the day these latest figures were revealed.
As such, hope remains that LUNC's supply will continue steadily
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