Terra Luna Classic Price Prediction – What's the Potential for LUNC to Hit $1 in 2023?

cryptonews.com:

The price of Terra Luna Classic has fallen to $0.00012616 today, representing a drop of 4% in the past 24 hours and a decline of 5% in the past week.

At the same time, LUNC is also down by 27% in the last 30 days, as well as being down by 13% since the start of the year, in contrast to most other major cryptocurrencies.

This makes LUNC a significantly underperforming and undervalued token, yet its community continue to work on plans to boost its ecosystem and attract users to it, with the long-term aim of returning its price somewhere to where it had been prior to May 2022's collapse.

LUNC may have been underperforming in the past few weeks, but this means that its indicators are now in a position where, all other things being equal, it should rebound.

For instance, its relative strength index (purple) has dropped to 30 in the past few days, indicating that the coin is significantly oversold.

Similarly, its 30-day moving average (red) has fallen below its 200-day average (blue), while its price has fallen below both.

As such, technicals alone would signal a rally in the coming days, even if such a rally need not be especially big.

If a rally is to happen, it's very important that LUNC break the $0.00014 resistance level, which has held it back on a couple of occasions in the past week.

If it can return to a stable position above this price, then further gains in the coming weeks will be likely.

Of course, as things stand, it seems that future rallies are depending on meaningful developments in the Terra Luna Classic's plans to burn LUNC.

Whille February did bring acceptance of a proposal to re-peg sister stablecoin USTC (which would necessitate large-scale burning of LUNC), not much has been heard recently in terms of putting this