LUNA Price Prediction: Terra Continues the Downtrend. Will LUNA Find an Anchor for Bullish Move?

Updated: 07 April 2023

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The collapse of the Terra (LUNA) blockchain, despite boasting impressive crypto-native services, caused it to lose its status as one of the most recognized crypto brands. Investors were offered algorithmic stablecoins, a robust DeFi ecosystem, and a yield-generating service through Anchor Protocol.

As a result of the collapse in early 2022, Terra split into Terra Classic and the Terra blockchain, with the latter now holding the LUNA tag but achieving limited success. LUNA has followed the broader market’s movements, rising and falling along with Bitcoin, the foremost cryptocurrency, dropping to $1.18.

Terra Launches Enterprise Protocol

Terra has announced the release of its Enterprise Protocol v1.0, a user-friendly solution for creating and managing decentralized autonomous organizations (DAOs) without requiring extensive technical knowledge.

The protocol allows individuals to quickly start a DAO, create a token DAO, a multisig wallet, or an NFT DAO with just a few clicks. This provides users with greater flexibility and control over their decentralized organizations, enabling them to streamline their operations and make decisions more efficiently.

Checkout @TheRyanLion showing how powerful & easy it is to use @enterprise_dao on @terra_money to launch a #DAO (@TheLionDAO ) & almost seamlessly integrate it throughout the #cosmos’ #defi infrastructure🤯 $ROAR $LUNA https://t.co/m36TMO9UiA

— 4719 (@gp4719) April 3, 2023

One of the main benefits of Enterprise is that it is a no-code solution, which means users do not need extensive technical expertise to create and manage their DAOs. This democratizes access to the benefits of decentralized finance (DeFi) and blockchain technology, allowing more people to participate in the growing crypto ecosystem.

The Enterprise Protocol is also built on the Terra blockchain, known for its fast transaction times and low fees. This makes it an attractive option for users who want to create and manage their DAOs cost-effectively and efficiently.

Luna’s Value Declines: A Look at Terra’s Cryptocurrency’s Recent Trends

Terra (LUNA) is currently priced at $1.27, with a 24-hour trading volume of $42,204,748. This reflects a 0.87% increase in the price over the past day but a decline of -1.28% over the past week. The market capitalization of Terra, based on its circulating supply of 240 million LUNA, is valued at $309,207,587.

Over the past 24 hours, Terra has seen a trading volume of $37,114,402, indicating a recent increase in market activity. This represents a significant increase of 47.60% from the previous day’s trading volume.

Terra’s highest price point of $18.87 was recorded on May 28, 2022, approximately 10 months ago. The current price is -93.29% below this all-time high. Conversely, the lowest price point of $1.19 was recorded on December 16, 2022, approximately 4 months ago. The current price is 6.08% higher than this all-time low.

Over the past 7 days, Terra has experienced a price decline of -1.60%, underperforming the global cryptocurrency market’s decline of -1.20%.

LUNA Price Prediction: LUNA Technical Analysis

LUNA/USDT chart Analysis. Source: Tradingview.com

LUNA price has been ranging for the better part of March. However, the bears seem to have pushed the price down after the bulls aggressively fought to attain the ground. This indicates that the price might remain bearish for some time.

Furthermore, the price of LUNA is trading below the 200-day and moving averages. According to the chart above, LUNA seems far from reaching its high of $1.6. However, our price prediction is that LUNA could get $1.45 in the month following the events.