Terra Luna Classic Price Prediction as LUNC Pumps Up 48% From Recent Lows – $1 Incoming in 2023?

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LUNC, the tick­er for the Luna Clas­sic cryp­tocur­ren­cy that pow­ers the orig­i­nal, but now large­ly defunct Ter­ra blockchain, is up an impres­sive more than 40% from the lows it print­ed back in Decem­ber under $0.00013. LUNC/USD was last chang­ing hands in the $0.00017s, a lit­tle under recent highs in the $0.00019s, with the bulls still strug­gling to push the cryp­tocur­ren­cy back to the north of its 100 and 200-Day Mov­ing Averages.

But short-term price pre­dic­tions remain cau­tious­ly opti­mistic, with the cryptocurrency’s near-term tech­ni­cal out­look fair­ly positive.

Where Next For LUNC?

Ear­li­er this month, LUNC/USD broke to the north of a longer-term down­trend that had been cap­ping its price action going all the way back to ear­ly Octo­ber. The cryp­tocur­ren­cy also appears to be in an upwards trend chan­nel that has been in play since mid-December.

Mean­while, though the 100 and 200DMAs are still pro­vid­ing resis­tance, LUNC’s 50 and 21DMAs are now pro­vid­ing sup­port. The gen­er­al tech­ni­cal pic­ture thus sug­gests that a buy­ing pres­sure is build­ing and a break above the 100 and 200DMAs is a pos­si­bil­i­ty. The $0.00019 area is a key zone of resis­tance. A break above it could trig­ger a swift jump to the next major resis­tance area around $0.00027.

LUNC to $1.0 in 2023?

While the near-term out­look for LUNC looks pret­ty good, a test of $1.0 in 2023 is unlike­ly, unless the Luna Clas­sic com­mu­ni­ty imple­ments big changes to the cryptocurrency’s toke­nomics. That’s because, at present, there are close to 7 tril­lion LUNC tokens in circulation.

Most would agree that Luna Clas­sic is unlike­ly to ever reach a $7 tril­lion mar­ket cap, not least because the blockchain’s entire web3 ecosys­tem was oblit­er­at­ed in mid-2022 when UST depegged from the US dol­lar and trig­gered hyper­in­fla­tion in LUNC.

But can a con­tin­ued rise in the broad­er cryp­tocur­ren­cy space push LUNC back towards its highs from last year in the $0.0006 area? Why not, cryp­tocur­ren­cy mar­kets are a crazy spec­u­la­tion-dri­ven place.

Buy LUNC Now

LUNC Alternatives

If you’re look­ing for oth­er high-poten­tial cryp­to projects along­side LUNC, we’ve reviewed the top 15 cryp­tocur­ren­cies for 2023, as ana­lyzed by the Cryp­toNews Indus­try Talk team.

The list is updat­ed week­ly with new alt­coins and ICO projects.

Dis­claimer: The Indus­try Talk sec­tion fea­tures insights by cryp­to indus­try play­ers and is not a part of the edi­to­r­i­al con­tent of Cryptonews.com.

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