Terra Luna Classic Price Prediction – Can LUNC Recover to $1 in 2023?
Terra Luna Classic price prediction is bearish, as the LUNC/USD pair faces major resistance at $0.000147, a level extended by 61.8% Fibonacci retracement level.
The current uptrend in LUNC was spurred by the statement that the IBC channel between Osmosis and Terra Classic (LUNC) had been restored. Users can now transfer LUNC and USTC between chains once more.
When this news surfaced, the LUNC community flooded Twitter with their thoughts. Many Twitteratis believed that this was only the beginning for LUNC, and that the coming year will offer even more excitement to investors.
Aside from this development, LunarCrush's research indicated that LUNC investors should expect the market to shift in their favor in the near future.
LUNC was ranked first among the top ten Cosmos IBC projects by AltRank, which was a huge bullish indication for the token and pointed to a price spike in the days ahead.
Terra Classic's current price is $0.000143, with a 24-hour trading volume of $138 million. Terra Classic has fallen by around 8.5% in the past 24 hours.
On a daily timeframe, the LUNC/USD pair has risen above the $0.00012 support level. Since the RSI and MACD indicators were in the oversold zone, the LUNC price has risen to $0.00014.
After breaking through the $0.00014 resistance level, which is extended by 61.8% Fibonacci retracement, the LUNC price could reach the $0.000154 level. Technically, LUNC has upside potential, but it may not reach $1 until and unless Terra fundamentals change dramatically.
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