Terra Luna Classic Price Prediction: LUNC's 14-Day Uptrend Signals Strong Growth Ahead – Time to Buy?
Luna Classic (LUNC), the cryptocurrency that powers the now largely defunct original Terra blockchain, has been in a technical uptrend since last March, signaling possible price strength ahead. Price predictions are thus somewhat upbeat, at least in the short term.
The Terra blockchain experienced catastrophe in May 2022 when its UST algorithmic stablecoin token depegged from its 1:1 value to the US dollar, sparking hyperinflation in LUNC, the token that had acted as collateral for it.
LUNC, which once trades with triple digits, now trades with three zeros in front of its decimal point.
Indeed, LUNC/USD was last changing hands in the $0.000126 area, with each token virtually worthless versus its pre-May 2022 crash highs in the $120 area.
But in the short term, things are looking up for LUNC.
The token is currently up about 8.8% versus last month’s lows in the $0.0001160 area, with price action supported in the last few weeks by a short-term technical uptrend.
As of Tuesday, LUNC has managed to recover back to the north of its 21DMA.
Short-term momentum appears to be building for a rally back towards earlier monthly highs above $0.00013 and a potential break above the 50DMA.
This could open the door to further short-term upside towards support-turned-resistance in the $0.00014 area and possible on towards resistance in the $0.000155 area.
Anything is possible in cryptocurrency markets and if the broader cryptocurrency bull market keeps roaring, it certainly is possible that LUNC could mount a retest of its late-2022 highs above $0.0005.
But investors should be very cautious about buying LUNC, as it is a highly speculative asset that pretty much has no fundamental worth at this point.
A small community continues to support the
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