Luna Price Forecast: A Glimpse into the Future of Altcoins – Uncovering the Potential of Wall Street Memes

The price action of Terra (LUNA) since the start of June has been dramatic in the short term. Despite touching several high prices during its trades, LUNA has seen recurrent losses in the market.

From June 12, the coin dropped to $0.5973 and maintained its $0.5 level for a longer period, recording $0.5837 on June 20. However, from June 21 to today, July 3, 2023, LUNA is back on its bullish trend, trading and maintaining several prices within the $0.6 level.

Considering the coin’s price on July 2, LUNA broke its support level at $0.6316, reaching $0.6502 the same day. Thus, the coin’s new resistance is at $0.6691, while it’s sitting at $6,505 today, indicating a 1.79% increase at the time of writing.

Many experts suggest that LUNA will likely uphold this rekindled bullish momentum throughout the year (2023). Therefore, it should be recording a maximum, average, and minimum of $12.50, $8.33, and $10.41, respectively, by the end of 2023.

The coin’s BUY trades are increasing, suggesting a potential take-over from the sellers. Notwithstanding, the leading crypto analytics platform, Tradingview, highlights what to expect from LUNA in the short and long term. 

LUNA Projects Short and Long-Term Bullish on Tradingview

Several indicators on Tradingview project a potential bullish market for LUNA. However, here’s a short- and long-term forecast of the coin’s price based on major technical indicators, MACD, SMA, and RSI.

The Moving Average Convergence/Divergence (MACD) is above the signal line, followed by a bold green bar on the histogram. This represents a strong bullish momentum for LUNA, suggesting potential price gains before the end of the day.

Also, the Relative Strength Index (RSI) is at 46.05, representing the coin’s neutral market position. 

Since it’s pointing upwards, the BUY market is overpowering the SELL market, and as a result, the RSI could advance further to the overbought region (above 70), spiking the LUNA’s value in no time. 

But if not, the RSI could drop to the oversold region (below 30), causing the coin to shed its gains in the long run.

In contrast, the 50-Day and 200-Day Simple Moving Averages (SMA) are above the trading price of LUNA, indicating potential stagnation and bear pressure for the coin in the short and long term. As such, LUNA could struggle to uphold its $0.6 throughout the coming days to weeks.

However, considering the movement of the RSI indicating increasing BUY trades, LUNA will gain more. This means the coin’s value could reach $1 and beyond in the long run.

But a trend reversal will occur in LUNA price when the RSI hits the overbought market position (above 70).

LUNA Support and Resistance Levels

Terra (LUNA) has its support levels at $0.1802 and $0.4040. On the other hand, its resistance levels are $0.9208 and $1.7306.

Since LUNA has crossed its strongest supports, its price can touch new milestones during its trades. However, its resistance at $0.9208 could impact the coin’s price movement. 

Nevertheless, considering the recent active nature of LUNA’s bulls, the price could break across the resistance, suggesting a prolonged bullish run for the coin shortly.

But cryptocurrencies are known for their extreme volatility and irregular price changes. Thus, comprehensive technical analysis and adequate risk management approaches must be implemented before trading or investing.

Why LUNA Could Experience Potential Growth

Cryptocurrencies are subject to several factors, like macroeconomic activities, regulatory crackdowns, laws of supply and demand, and even ecosystem-related news and developments. 

While these can impact LUNA’s price negatively or positively as a cryptocurrency, here are some factors that could fuel the coin’s potential growth.

The Assertion of Terra (LUNA) as non-security by District Court

According to a piece by the Korean Sunday News, the Seoul Southern District Court rendered a verdict in favor of LUNA, noting that it is not a security, despite accusations made against the co-founder of Terraform Labs, Do Kwon. 

Although the United States Securities and Exchange Commission (SEC) recently took legal action against Kwon, the South Korean court decided that the mentioned cryptocurrency is not a security, outlining its stance in the case.

Although this news had emerged as of April 24, the fact that some jurisdictions tagged LUNA as a non-security could encourage more trading activities in the coin’s market.

Strong Community Support

Considering that LUNA has strong community support, there are chances of several positive effects on the project and its price. 

Here are some of the potential outcomes:

• The strong community can actively promote and advocate for LUNA, leading to increased adoption and usage. Community members may introduce the cryptocurrency to new users, merchants, and developers, thus, expanding its ecosystem.
• A vibrant and enthusiastic community can generate positive sentiment around LUNA. This positive sentiment can attract new investors, traders, and enthusiasts who believe in the project’s vision and potential.
• A strong community can create network effects, where the value of the cryptocurrency increases as more people join and participate in the ecosystem. This can lead to a self-reinforcing growth cycle as more users attract more users, fostering a healthy and active community.
• If LUNA’s community is dedicated to the Terra ecosystem, it could contribute to the development and improvement of the ecosystem. Community members may provide feedback, identify bugs, suggest new features, or even develop applications and tools that enhance the ecosystem. This community-driven development can make the project more robust and appealing to a wider audience.
• Strong community support can lead to increased cryptocurrency demand, driving its price up. Positive community sentiment, adoption, and network effects can attract investors and traders who see value in the project, potentially resulting in price appreciation.

However, it’s important to note that community support alone does not guarantee success or price appreciation. Other factors, such as the project’s fundamentals, technology, market conditions, and competition, also play crucial roles.

While Terra (LUNA) is set for growth soon, a new altcoin, Wall Street Memes, is signaling a promising outlook with tremendous potential.

Wall Street Memes ($WSM)

According to the project’s description, Wall Street Memes is born out of the movement of the 2021 infamous GameStop challenge, where Wall Street Bets heroes revealed their forever-enduring bravery.

Wall Street Memes (WSM) crypto is a digital currency inspired by the world of finance and online memes. It combines elements of both to create a unique and entertaining crypto experience. Simply, it’s like a digital currency version of a meme stock.

The concept behind Wall Street Memes is to harness the power of memes, which are humorous and relatable images or videos that spread rapidly online and apply them to the world of cryptocurrency.

It aims to create a community-driven platform where people can engage with cryptocurrencies in a fun and interactive way. WSM is built on blockchain technology, a secure and decentralized system that ensures transparency and immutability. 

This means that WSM transactions are recorded on a public ledger that cannot be altered or tampered with. This ensures the integrity of the currency and provides a level of trust for users.

One unique aspect of WSM is its meme-inspired ecosystem. Users can create and share crypto world memes, which helps promote and spread awareness about Wall Street Memes. These memes can be traded and shared within the community, creating a sense of engagement and participation.

As with any digital currency, the value of WSM can fluctuate based on supply and demand dynamics. If the demand for WSM increases, its value may rise, and vice versa. 

$WSM Presale Surges in the Short Term with High-Growth Potential

Wall Street Memes has offered its native utility token, $WSM, in the presale fundraising campaign since May 26.

Within minutes of launching the token presale, $WSM raised $100K at its early price of $0.025, and since then, the project has reached new milestones in no time.

So far, the Wall Street Memes presale has raised over $12.1 million in funds from its past and present prices. According to the presale widget on the project’s official site, the funds raised are almost close to the $12.4 million benchmark.

And with the fast sell-out speed of the tokens, $WSM could reach this benchmark in a short period. Considering the performance of the fundraising campaign, Wall Street Memes (WSM) will likely become an overvalued altcoin once it lists on exchanges.

Currently, 1 $WSM is priced at $0.0307, and in the next few hours to days, its price will reach $0.031. Moreover, after the presale, the tokens will list at $0.0337 or higher on decentralized (DEX) and centralized (CEX) exchanges.

Investors that maximize the advantage of these discount prices will be entitled to huge paper gains afterward. Simply navigate to the presale widget on Wall Street Memes’ official website and connect your wallet. 

Ensure you have enough balance in your preferred currency address (USDT, ETH, or BNB). Alternatively, you can now use the card payment option to buy WSM ahead of its potential price surge.