Terra Luna Classic (LUNC) Price Prediction: LUNC's Orbit Predicts a Stellar 25% Rise?

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The Terra Luna Classic (LUNC) price has been on a steady downtrend since early this month. It posted lower lows and lower highs with brief consolidation as the network fights to dissociate itself from the FUD that continues to drag on the Terra ecosystem

Meanwhile, investor interest in the token continues to grow, with futures traders actively taking positions.

This is Love ❤️ #LUNC #LUNA #USTC #binance pic.twitter.com/3c3cVf6gqI

— LUNC (@lunc_analytics) September 4, 2023

Santiment data corroborates this outlook, indicating a trackable rise in social volume and dominance over the past week.

Furthermore, the network is focused on increasing the value of the LUNC token by reducing its circulating supply. Specifically, the Terra Luna Classic ecosystem has adopted a token-burning mechanism akin to the Shiba Inu (SHIB) ecosystem.

Despite no explanation of intent, Binance, the largest exchange by trading volume, is among the token-burning participants. Nevertheless, investor hype has surged amid talks of Binance relisting LUNC.

Is #binance's help in burning #LUNC a gesture of goodwill or a strategic move? The relisting extravaganza and the fundamental burning inspired many, people believed and to this day have become prisoners of their trust. I wish patience to all holders, one day we will find out💯…

— LUNC (@lunc_analytics) September 4, 2023

Meanwhile, LUNC token holders and stakers anticipate a surge in the token sooner or later, especially as chatter around relisting continues. There are hopes that centralized exchanges (CEXes) and decentralized exchanges (DEXes) will relist the token.

This anticipation and the ongoing burn mechanism achieved through transaction fees could drive Terra Luna Classic’s price north. There are more than 200 exchanges, with Binance burning billions of LUNC monthly.

$LUNC holders and stakers are future millionaires. sooner or later, all CEX and DEX will relist #LUNC and burn the supply thru transaction fees. there are more than 200 exchanges. #binance alone already burns billions per month.

— jubanong (@LuncBurnPerDay) June 8, 2023

Terra Luna Classic Price Prediction

At 7:30 a.m. EST, one LUNC is valued at $0.00005847, representing a 2.3% drop over the last day. Trading volumein the previoust 24 hours has also declined by almost 50%. This threatens the forecasted 25% rise, with fundamentals bolstering the case to the downside.

The chart below indicates that the token continues consolidating within a descending parallel channel. This bearish technical formation points to a continued downtrend if the price remains trapped within the upper and lower boundaries.

Nevertheless, the channel’s midline supports the Terra Luna Classic price at $0.00005224. LUNC could rise 25% to the $0.00007315 level, steered by increasing bullish momentum as long the price sustains above this level.

The Awesome Oscillator (AO) histogram bars indicate a steady streak of green, suggesting a solid presence of bulls in the LUNC market. This increases the odds of a move north.

LUNC price — TradingView: LUNC/USDT 1-day chart

Conversely, momentum seems to fade with the Relative Strength Index (RSI) tipping south. This leaves the Terra Luna Classic price susceptible to a slump, potentially testing the midline of the chart pattern at $0.00005234. Increased seller momentum could send LUNC lower to the lower boundary of the chart pattern.

It is worth mentioning that the $0.00005234 level is the all-time low (ATL) for Terra Luna Classic. The value was last tested on August 17, with the range between the current discount and this ATL representing uncollected liquidity. As such, LUNC could likely drop to $0.00005234 before a possible pullback.

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LUNC Alternative

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The project also offers a staking feature, with the BTCBSC token mimicking the block rewards that the flagship crypto (BTC) uses. The token is built on Ethereum’s BNB Smart Chart, delivering speed, affordability, and reliability. This allows stakers to make passive income.

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