Terra Classic Loses Bullish Momentum. Is There A Better Crypto Coin Choice?

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Terra Classic (LUNC) has lost bullish momentum over the past 24 hours along with the broader cryptocurrency market.

While the token has maintained a bullish trend over most of the past week, its 24-hour price change is down by slightly less than 5%. As of 4:40 EST, Terra Classic traded at approximately $0.00008930.

A notable reason for the price drop could be the decline in trading volume by 25% over the past day. It now stands at over $69 million.

Terra Classic Price Could Be Set For More Decline

LUNC now faces the possibility of further declines in the short term.

The token is encountering resistance at the 50-day moving average (MA) and is trading below the 200-day MA, indicating a challenging market environment. Also, while the Moving Average Convergence Divergence (MACD) line is still above the signal line, it may soon cross below it.

This potential crossover suggests a bearish signal, especially considering the token has struggled to progress significantly above the 50-day MA for several days. The Relative Strength Index (RSI) for LUNC stands at 52.71, indicating balanced sentiment in the market.

Terra Classic: Resistance and Support Levels

As shown on the daily chart above, the failure to gain upward momentum and break through the resistance level at $0.00009292 could hinder the token’s price from moving higher.

Given these factors, the token’s price may drop, with the next support level anticipated at $0.00007767.

It’s important to note that cryptocurrency markets can be volatile, and price predictions and actions may change in response to market conditions and investor sentiment. Investors and traders must remain cautious to stay afloat of the risks with this investment option.

Terra Classic Updates That May Influence its Price

Several factors can influence the price of Terra Classic (LUNC). Here are a few major ones:

Total Supply and Burning Events

There are over 6.8 million LUNC tokens in total supply. This figure can impact the price, affecting the token’s scarcity and market liquidity.

Additionally, burning events can reduce the supply and potentially increase the value of the remaining tokens.

Developments and Upgrades

Positive developments, like the recent upgrade supported by Binance, can enhance the token’s visibility and adoption, potentially driving higher prices.

Conversely, negative developments or lack of progress may have a detrimental effect on the token’s price.

Terra Classic Impacted by Broad Market

The overall trend of the broader virtual asset market can considerably impact Terra Classic’s price.

As the largest digital asset by market cap, Bitcoin often sets the market trend. When Bitcoin experiences significant price movements, it influences investors’ sentiment and trading behavior. This occurrence leads to similar trends in other cryptocurrencies, including Terra Classic.

Additionally, regulatory actions and announcements related to digital currencies can create volatility and affect the overall market sentiment, which can trickle down to LUNC’s price.

Launchpad XYZ, A Haven for Investors

Considering the recent decline in Terra’s value following the drop in trading volume, investors may find exploring alternative options that offer growth potential beneficial.

One such asset is Launchpad XYZ (LPX), a crypto project built on the Ethereum blockchain to facilitate a seamless transition to Web3.

By exploring Launchpad and its comprehensive suite of features, investors can diversify their crypto portfolios and take advantage of growth opportunities while enjoying a user-friendly and efficient ecosystem.

Also, they can leverage the native token of the ecosystem, LPX, to carry out multiple activities within the Launchpad ecosystem. The token is the means of fee payment within the ecosystem, enabling seamless transactions and interactions.

Main Features of Launchpad

Launchpad offers a range of features designed to empower individuals and businesses in understanding and leveraging the latest technology.

Custom-built DEX

Launchpad has developed its decentralized exchange (DEX) within its platform. This DEX enables users to trade cryptocurrencies securely and seamlessly without relying on centralized exchanges.

Fractionalized asset marketplace

Launchpad provides a marketplace where users can access fractionalized assets. This feature supports the division of valuable assets into smaller, more affordable portions, enabling broader accessibility to investments that were previously out of reach for many.

Web3-compatible wallet

Launchpad offers a Web3-compatible wallet that allows users to securely store, manage, and interact with their digital assets.

This wallet is designed to support the decentralized nature of Web3 technology, providing users with full control over their funds while ensuring compatibility with various DApps and platforms.

Launchpad Presale

Launchpad’s presale is still ongoing and attracting significant investor interest since its inception.

In the present stage, the native token ($LPX) of the project is sold at $0.0445, with the next stage set to sell at $0.046.

Also, the team has successfully raised more than $1,163,000 out of the $1,550,000 target, encouraging interested investors to take advantage of this opportunity.

LPX tokens can be purchased using ETH, USDT, or a bank card. By connecting their wallets and purchasing now, investors can position themselves for potential gains when the tokens list on exchanges at $0.0565.