LUNC Price Prediction: Despite L1 Upgrade, The Bears Are Still In Control 

• LUNC is in a downtrend today, losing 5% of its price gains in 24 hours at press time. Despite the losses, the trading volume is up 11.22% at press time. 

Today’s slight retracement in the crypto market might contribute to LUNC present retracement on the price chart. 

LUNC Price Action In 2023

LUNC started the year at $0.000145 on January 1, 2023, and increased to $0.0001481 by January 3. It moved to $0.0001764 on January 21, 2023, and remained in that range till the bears forced it down to $0.0001625 on January 30. 

LUNC experienced price volatility in February, fluctuating between $0.00017 and $0.00015. However, the bears pushed the price down to the $0.00014 price level by March 4, 2023. The bearish trend persisted until LUNC traded below its January 1 price at $0.000129 on March 12. 

April followed the same bearish trend for the asset, as LUNC touched a new low of $0.00011 on April 30. The bears are still in control in May as LUNC is currently at the $0.00008999 price level at press time. 

LUNC Price Prediction with Technical Indicators

LUNC is in a downtrend today, forming a fourth consecutive red candle on the daily price chart. It is still trading below its 50-day and 200-day Simple Moving Averages (SMA), with a short and long-term bearish sentiment. 

Also, the Relative Strength Index (RSI) is at 20.51 in the oversold region, and the indicator is moving downwards. This confirms that the bears have control over their price action. LUNC’s Moving Average Convergence/Divergence (MACD) is below its signal line and showing a negative value. 

LUNC’s downtrend will likely persist till its bounces off a critical support level to resume its rally. Note that the RSI is in the oversold region, and a bullish retracement remains possible.

LUNC Support And Resistance Levels

LUNC has dropped below the $0.00010421 support level reflecting the bearish pressure on the chart. It is heading to the next support level of $0.00008670, critical to its price action. A decline below this level will push the asset down to the $0.00005697 support. 

Important resistance levels are $0.00010668, $0.00012150, and $0.00013187. 

Factors Affecting LUNC’s Price

Several factors could affect LUNC’s Price action. These factors include crypto regulations, laws of supply and demand, investor sentiments, inflation, and other macroeconomic factors. Also, developments and upgrades on the network might affect its price. 

Additionally, LUNC’s founder Do Kwon’s arrest and possible extradition continues to create a negative impression of the asset among some crypto community members. 

Notable Trends In LUNC’s Community

Terra Classic Testnet Upgrade

The Terra Classic blockchain, the Layer 1 (L1) Joint Task Force (L1JTF) team, moved its testnet to version 2.0.0. This upgrade is a landmark achievement for the project as it boosts its functionality and security. Success with this upgrade will hasten the migration of Terra Classic’s mainnet to version 2.0.0. 

This was till a developer on the Terra Classic’s network revealed that only six validators combined for a successful upgrade. Some community members reacted to this revelation stating that the validators should be up to 30. 

LUNC’s price did not increase after the upgrade as further price decline continues today. Also, after the upgrade LuncBurnArmy, the project manager of the L1 team submitted a proposal for the mainnet upgrade to version 2.0.0.

LUNC Alternatives

While LUNC continues in a downtrend today, investors can rely on these projects to earn guaranteed rewards. 

Launchpad (LPX)

Launchpad is an innovative web3 platform assisting crypto investors in making informed investment decisions. Launchpad runs on the Ethereum blockchain, thereby using its full security features. Its user-friendly interface has robust tools for a well-rounded and interactive experience. With so many new crypto projects around, Launchpad acts as a guide from rug pulls and scams. 

Also, it provides its users with real-time market insights from top analysts and crypto investors to improve their trade strategies and decision-making. Web3 technology is a vast space and intimidating for new users without experience. Launchpad offers users vital information suitable for trading. 

Also, users have self-custody over their crypto assets, confirming the platform’s commitment to a decentralized model. It acts as a link for Web2 and Web3 technology, bridging the gaps for a smooth transition.

Launchpad offers its users beneficial features. These features include an NFT gallery and marketplace where users can trade NFT tokens. However, users must stake LPX, its native token, to be eligible for NFT trading. This boosts the token’s utility and price. 

Additionally, users will access a Play-to-Earn model for gaming, a Web3 Wallet, and fractional assets. Launchpad will team up with other partners to offer valuable assets in fractions for user rewards. The Launchpad Quotient is a useful trading tool that displays the risk-to-reward ratio of digital assets. It uses AI technology with 400 data points to analyze crypto assets.

The LPX presale is on, and each token is worth $0.035. The presale has raised $232,864.55 of its goal of $875,000 in this stage. The LPX tokens listing price is $0.07 and will reward early investors. 

The LPX token total supply is 1 billion ERC-20 compliant tokens. Also, investors can purchase these tokens with USDT, ETH, or credit cards.

Ecoterra (ECOTERRA)

Ecoterra is an environmental-focused project that focuses on the Recycle-to-Earn initiative. Users receive rewards for recycling waste products. The Ecoterra mobile app will assign values to each item based on environmental impact. 

There is a global outcry against destructive activities affecting the ecosystem. One such pollutant is carbon. Ecoterra offers its users a Carbon Offset Marketplace to trade carbon credits and offset carbon emissions. The project answers the global desire for environmental preservation and rewards users for their efforts.

ECOTERRA is the token that powers all activities in the community. Users can purchase carbon credits and secure carbon offsets. Also, users can convert their milestone achievements to NFTs

to mark carbon offset events. The tokens are for staking, personal investments, and donations to eco-activities such as beach cleaning. 

The token presale is ongoing, and each token is worth $0.00775. ECOTERRA will eventually list at $0.01, granting investors returns.