LUNA Price Prediction - Will LUNA Move Up Further in 2023

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Today, the price of Terra LUNA is at $1.81. In the last 24 hours its price has increased by around 3.3%. This also represents a drop of -11.87% in the seven days. The long-term outlook is looking promising as LUNA’s price is expected to hit $13.5 in the remainder of 2023.

Terra LUNA’s market capitalization is at $390,532,029. Its total circulating supply was 216,113,183 at the time this article was written. According to the crypto market price forecast, LUNA’s price will be worth $3.12 in the year 2023, even in the most pessimistic scenario. The previous all-time high for Terra Luna occurred on May 28, 2022, and LUNA traded at $18.85. The current price is around 90% lower than the all-time-high price.

Terra (LUNA) Price Prediction

Terra Luna had a bullish 2021 until May 2022, when the entire Terra ecosystem suffered blows.

Let’s divide LUNA’s latest price forecast into short-term and long-term price predictions to make it easier to understand its performance. At the time when this article was written, LUNA had a trading volume of $86,848,772, which had gone up by 28.5% in value in the last 24 hours.

According to our studies, LUNA’s average cost in April 2023 will be $2.06. Its highest price in April is expected to be at $2.18, and its lowest at around $1.98.

In addition to that, our study predicts that over the long run, in the autumn of 2023, LUNA will trade at an average level of $2.5. In September 2023, LUNA’s price is expected to fluctuate between $2.47 to $2.68.

According to market experts, Terra LUNA’s value in October 2023 will experience a peak of $2.78 and, conversely, is not expected to drop below a minimum of $2.38.

According to market experts, Terra LUNA’s value in December 2023 will see an average of $2.72, and conversely, not expected to drop below a minimum of $2.65 and see a surge of $3.02.

The price prediction of a cryptocurrency is easier to understand when we examine its price, past behaviors, market opinion, and current events.

LUNA: Is It a Good Investment?

According to market research, LUNA could be a good investment. However, how good a decision it is will be dependent on a lot of external factors like market volatility and whether or not it can save itself from its previous allegations and a bad reputation.

According to InvestorsObserver’s analysis, LUNA has a low-risk rating. This risk-scoring method takes into account the amount of money needed to change the price of the crypto in the last 24 hours. It assesses how much a cryptocurrency may be influenced by restricted trading. It also considers the latest change in LUNA’s trading volume and market capitalization. In this risk analysis method, a low score means high risk, and a higher score means low risk.

This means that investors looking for low-risk options will find it useful. Terra is trading at 3.37% higher as of the last 24 hours of trading, resulting in its current price of $1.81.

LUNA’s technical indicators

Terra Luna is one of the most swiftly growing cryptocurrencies to have grabbed investors’ attention. However, LUNA is not witnessing an upward trend. LUNA’s technical analysis indicates slight growth from the previous day, but it is not even close to its high of October 2022 of $6.18.

Terra Luna is predicted to rise for another 3.4% and reach a peak of $1.87 by February 20, 2023. According to the technical indicators, the sentiment around LUNA is bearish, and it may take a long time for it to recover from the drop since May 2022.

LUNA’s current trading price is below the 200-Day simple moving average (SMA). Since the last nine days i.e, February 5, 2023, its 200-Day SMA has been indicating SELL.

The current price of LUNA is also below its 50-Day SMA. Its 50-Day SMA has been signaling SELL since February 13, 2023.

As per the market assessment, LUNA’s long-term 200-Day SMA will rise in the coming month and is estimated to reach $2.17 by the middle of March 2023. Whereas its short-term 50-Day SMA is predicted to hit $2.04 by the same time next month.

LUNA’s relative strength index momentum oscillator is currently at 44.69. It is a popular indicator that tells if a cryptocurrency is oversold or bought. This means LUNA’s RSI score indicates a neutral position at the moment.

More on LUNA

Luna is Terra 2.0. It is created as a renewal strategy, and it is the recent version of Terra. The market fall of Terra impacted its investors and affected the trust it had gained in the market until then. So, Do Kwon proposed a fork of the Terra blockchain to help maintain investors’ trust in the Terra ecosystem. The main purpose of this new Terra venture was to regain the lost trust and reputation in the crypto market.

As per Terra’s 2.0 venture, it issues additional LUNA tokens to investors who purchased more than 10 thousand tokens in the past before its downfall. This is intended to keep Terra 2.0 afloat and away from being sold away.

It was proposed that 300% of LUNA tokens would be released at once, while the remaining would be issued over a period of two years. Crypto investors will receive the new token after a waiting period of six months.

Concluding Words

LUNA market is experiencing a bearish sentiment at the moment. The day-to-day price graphs indicate that LUNA is up against a lot of slumps and it is still keeping at it. The price graph of the last 30 days clearly indicates how the price has been seeing a slight downward trend.

Couple this with the aftermath of the catastrophic disaster that hit the Terra ecosystem; investors have questions about the token’s stability. Hence, investors should act with due diligence and should be aware of the risks involved before investing in LUNA.

The volatility and uncertainty of the crypto market are not news for regular players. It is understood that lack of proper regulation makes the market riskier, so it is better to watch their steps.

When the market turns more favorable, Luna can be bought from platforms like Binance, eToro, and KuCoin.

LUNA Alternatives

There are similar tokens that have the same advantages as LUNA. These alternatives can prove to be a major asset to your portfolio in 2023 and beyond. Check out our list of best altcoins of this year.

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