Terra Luna Classic Price Prediction as LUNC Gains 56% – Is the Rally to $1 Starting?

cryptonews.com:

The Terra Luna Classic price has jumped by 5% in the past 24 hours, with its move to $0.00008179 also marking a 56% gain since reaching a 2023-low in mid-October.

LUNC has also risen by 22% in a week and by 40% in the last 30 days, with the altcoin riding increasingly positive market sentiment.

Yet LUNC has also benefitted from the passage of some positive Terra Luna Classic governance proposal, including the recent acceptance of a proposal to stop all minting of new USTC.

This is likely to boost LUNC’s price in the longer term, while it also raises hopes that its community can unify around other similarly beneficial proposals in the near future.

LUNC has risen by 5% in a day, so it’s perhaps no surprise that its chart and indicators continue to look pretty strong.

Its RSI (purple) is rising towards 70 again, and can afford to rise higher before the coin enters overbought territory.

Perhaps more encouragingly, LUNC’s 30-day average (yellow) continues to rise towards its 200-day average (blue), and there’s plenty of time before it rises above the latter average and peaks.

Another good piece of news is that LUNC’s support level (green) has actually risen in the past couple of weeks, providing the altcoin with higher base levels from which to mount new rallies.

On the other hand, its 24-hour trading volume remains relatively for a ‘major’ token, with its current level reading at $40 million.

This is an improvement over its readings in October, but it’s still relatively insignificant compared to the biggest tokens (e.g. BTC, ETH, SOL), even if November 10 saw a spike towards $300 million.

This latter event is important, because it was when the Terra Luna Classic community passed a proposal to stop minting and re-minting USTC.

As $LUNC