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LUNA price is looking forward to a colossal 220% climb in the coming days, weeks or months, but first, bulls are facing the daunting task of defending critical support at $1.50. Terra price exchanges hands at $1.53 at the time of writing after retracing from a weekly high of $1.85.
Terra Developers Promise New Updates and Product Launches In 2023, Is LUNA Price Poised to Rally?
As the Terra community looks forward to the release of the much-awaited Stader.Terra in 2023, the development team says it will “continue with new updates & launches this year.”
Although 2022 was a difficult year for most crypto projects and businesses, Terra committed to the development of Stader.Terra; a platform being designed to support the staking of LUNA and mint LUNAx.
The latest development update reveals that the team worked on a new upgraded user interface (UI) “to enhance user’s staking & DeFi experience with a modular dapp design.” This upgrade, however, did not compromise on key features like “auto-compounding of staking rewards.” The platform also shows the “best-in-class yields” while allowing users to choose “between stake pools & liquid staking.”
Stader.Terra boasts high levels of Trust and Security by increasing the number of validators to 30 in the ecosystem’s first wave of expansion. The second wave has been scheduled for Q1 2023 and will see validators increase to 100 to ensure security is never compromised.
Terra is looking forward to supporting the Interchain Alliance and strengthening security across the Cosmos ecosystem with LunaX. According to the team, “a stick is vulnerable; a bundle is unbreakable.”
Do Kwon, the founder of the Terra ecosystem, proposed Interchain Alliance. The Alliance will be a blockchain core module compatible with the Cosmos SDK. It focuses on creating “a mechanism for the chains in the Cosmos network to secure each other.”
Terra has shown its commitment to building during the crypto winter, notwithstanding the criticism it faced following the TerraUSD (UST) crash in May. The team has extended the vigor and desire to grow a strong crypto ecosystem in 2023. Hence, LUNA price may be one of the tokens investors would keep on the watchlist ahead of a possible near-term breakout to $4.85.
LUNA Price Retreats to Collect More Liquidity, Eyes On $4.85
LUNA price recently found a way out of a falling trend channel, as illustrated on the daily chart. The bullish move stretched the leg to $1.85, leaving investors excited. A 61.8% recovery from support at $1.0993 was expected and would have propelled Terra to $4.85. However, momentum faded as some investors cashed out for profit, pushing LUNA price to $1.55, its current market value.
The trend channel provides support at $1.50 in confluence with the 50-day Exponential Moving Average (EMA) (in red). For traders looking forward to betting long on LUNA price, it would be prudent to hold on until the token rebounds from this support and prints a green candle.
According to the Fibonacci retracement levels, LUNA price may be headed for a 61.8% rally from support at $1.09. However, with Terra already trading at $1.55, the move to $4.85 means a massive 222% breakout.
LUNA Alternatives to Consider for Bigger Returns
Investors looking forward to quicker returns in 2023 may want exposure to some selected altcoins with strong fundamentals to rally. Some of these tokens are still in their presale stages, offering investors a chance to be early adopters. Moreover, you will be able to position yourself for the first debuts on exchanges.
Meta Masters Guild (MEMAG)
Meta Masters Guild (MMG) is the initial global guild concentrating on mobile web3 gaming. The team’s main objective is to develop exceptional blockchain-enabled mobile games that establish a decentralized gaming environment, allowing our members to obtain rewards for their participation in the ecosystem in a sustainable manner.
All games in this new ecosystem will use a single currency: The Meta Masters Guild token ($MEMAG). All games created by the MMG will feature in-game incentives known as ‘Gems’ which can be exchanged for MEMAG tokens. Players will then have the option to redeem or reinvest these tokens in various ways within the ecosystem.
The ecosystem is crafted to motivate players to commit their time and funds to the ecosystem by guaranteeing fair compensation for their investment, which is a crucial aspect of gaming.
The team sells MEMAG tokens in a presale ahead of the first exchange listing. 1 MEMAG is worth 0.007 USDT in the first stage, but the price will go up to 0.01 USDT in just nine days.
FightOut (FGHT)
FightOut is a highly sought-after investment opportunity within the Web3 space, thanks to its enormous potential. This M2E project is a rare feat that very few ventures have achieved thus far. The exceptional performance of the team and its unique concept appear to be driving the demand for its native token, FGHT.
The FightOut initiative aims to inspire users to engage in physical activity and improve their fitness by offering incentives in the form of cryptocurrencies and NFTs. The team hopes to tackle issues such as lack of social interaction, exorbitant gym fees, and inadequate training plans within the fitness industry by launching the FightOut app.
It provides users with financial rewards and access to comprehensive resources and guidance for healthier living, a long-awaited solution for many. As users engage in physical activity in the real world, their NFT avatars will reflect these changes in attributes.
This innovative use of smart technology is expected to offer users additional benefits from their workouts. FightOut’s presale is ongoing and has raised $2.8 million ahead of the first exchange listing in April.
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