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LUNA Price Prediction: LUNA Tracking Broader Crypto Market Movement – Presents Opportunity to Buy at a Bargain

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The Terra (LUNA) blockchain was easily one of the most recognized crypto brands before its collapse. The blockchain project boasted some of the most impressive crypto-native services investors have seen.

Crypto investors were inundated with algorithmic stablecoins, a robust DeFi ecosystem, and a yield-generating service through Anchor Protocol.

Meanwhile, its collapse in early 2022 led to the subsequent split into Terra Classic and the Terra blockchain. The latter protocol now holds the coveted LUNA tag but with limited success.

So far, LUNA has echoed the broader market’s movements, rising and slumping with the foremost cryptocurrency Bitcoin.

The digital asset is still on the same beaten path and is down as the broader crypto market suffers slight losses after dropping to $1.18 trillion in the past day.

While many investors may see this as a great time to sell, savvy investors know that this is the best time to buy LUNA at a discount.

LUNA Seeks an Anchor for Retracement

At press time, Terra’s Luna is trading at $1.26, indicating a downtrend of 1.84% in the last 24 hours and 2.7% in the past week.

The decline in value has been on for a while, with a downtrend of 8.3% in the last two weeks and 17.5% in the last month.

The asset also saw a drop in its 24-hour trading volume to $33 million, a testament to the bearish movement of the coin. LUNA has a current market capitalization of $309 million and a circulating supply of 243 million coins.

Luna price prediction 4/6/23

Unsurprisingly, the recent downtrend has negatively impacted LUNA’s technical chart, which shows little momentum.

The asset’s current price trails below all the major moving averages, starting from the 50-day simple moving average (SMA) of $1.73 and the 200-day SMA of $12.54.

Regarding the technical graph, LUNA dropped after meeting resistance at the 38.2% Fibonacci retracement level of $2.02.
The digital asset oscillates above the 0% Fibonacci retracement level of $0.83.

However, if it finds a foothold and retraces, LUNA might rebound toward the 23.6% Fibonacci retracement value of $1.57.

Luna price prediction

While the asset movement is bearish, the Moving Average Convergence Divergence (MACD) displays a buy signal.

On the other hand, LUNA’s relative strength index (RSI) of 38.89 shows the asset is currently underbought, indicating that investors are more likely to buy it at its low price for future returns.

Terra (LUNA) Launches Enterprise Protocol

Terra has launched Enterprise Protocol v1.0, the company’s leading no-code decentralized autonomous organization (DAO) management solution.

With this protocol, individuals can start a DAO without being full-stack engineers. Using Enterprise, they can also quickly create a token DAO, multisig wallet, or NFT DAO.

Enterprise was developed with the sole purpose of making DAOs simpler to operate. The protocol provides all the tools a person requires in one location, whether developing a new DAO or importing an existing one.

Digital Assets With High-Margin Returns to Explore

With the current unimpressive bearish movement of Terra Luna, investors may want to diversify their assets and explore other altcoins for high-margin returns.

These assets offer utility and are currently in their presale stages, meaning investors would buy the tokens at a discounted price.

One such asset to explore is Metropoly’s token, METRO.

Metropoly is at the forefront of digitizing the real estate industry, which is rife with barriers that limit the entry of potential real estate investors. Such barriers include the high cost of investment capital and offline transactions that take at least 60 days to complete.

To render a solution, the company has created the first non-fungible token (NFT) marketplace backed by tangible real estate properties.

Metropoly is utilizing blockchain technology to enable users to purchase NFT fractional properties for as little as $100 to generate passive income.

At the time of writing, the $METRO token is selling for $0.0769 per token. The nascent project has raised over $1.13 million in its presale program so far.

Another high-margin-return asset to explore is Love Hate Inu’s token, $LHINU.

Love Hate Inu is a vote-to-earn platform where users can earn rewards by voting on trending topics, including entertainment, general elections, celebrities, and social events.

Built on the Ethereum blockchain, the platform promotes a transparent and secure voting process. Users can express their opinions on the topics without fear of being judged or prejudiced because the system protects their identities as they vote.

However, they need to stake the LHINU token for 30 days to participate – the more users stake, the more voting power they get.

At press time, the price of one LHINU token is $0.000105. The crypto-backed survey platform has raised over $2.9 million in its ongoing presale.

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