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LUNC Price Prediction: LUNC Gains 3.09% Amid Market Rebound – Time to Buy?

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Terra Classic LUNC
Terra Classic LUNC

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The Terra Classic token LUNC has faced difficulties since the Terra ecosystem’s collapse, which resulted in the splitting of its blockchain.

However, $LUNC seemed to have gained traction and reversed course, gaining 3.09% in the last 24 hours. Despite the recent financial crisis that gripped the industry, this gain occurred as the overall crypto market rallied.

While major assets like Bitcoin and Ethereum lead the charge, $LUNC has also grabbed onto the bullish wave.

Is now the ideal time to purchase $LUNC, given its recent rise and market momentum?

LUNC Finds a Foothold and Retraces

At press time, Terra Classic $LUNC is trading at $0.000093, indicating an uptrend of 3.09% in the last 24 hours.

However, prior to this surge, the asset had a slump of 0.9% in the last seven days, 12.6% in the last two weeks, and 26.2% in the last month.

$LUNC has a 24-hour trading volume of $31 million, indicating an incoming bullish sentiment.

LUNC_1D_graph_coinmarketcap 5/17/23

However, the recent increase in value has not had much of an impact on $LUNC, as the technical graph still signifies bearish momentum for the asset.

The token’s current price trails below its 50-day simple moving average (SMA) value of $0.00012 for the short term and its 200-day SMA value of $0.00017 for the long term.

In the coming days, $LUNC will probably fluctuate between these two price points.

LUNC graph 5/12/23

Regarding technical analysis, the Terra Classic asset has found a foothold and is currently retracing just under the 23.6% Fibonacci retracement level of $0.00010. $LUNC will hit this Fib level soon if it continues its upward trajectory.

However, the asset may also encounter resistance at this level and stall or drop back.

On the other hand, continuous bullish momentum combined with the broader market rally could see the asset break through this point and head toward a new price level.

The relative strength index (RSI) metric of 40.08 indicates that $LUNC is currently underbought. Its moving average convergence divergence (MACD) is trailing above the orange trendline, indicating a buy sign.

Terra Classic Advances With Major Upgrades

While Terra Classic LUNC is struggling to maintain its bullish momentum and hit a new price level, the upcoming upgrade may just be the game changer the asset needs.

The Terra Classic core developer’s Joint L1 Task Force (L1TF) Proposal for v2.0.1 Upgrade has reached the threshold limit.

According to the project developers, about 77.06% of users voted ‘yes,’ with 12.45% voting otherwise.

This is a significant upgrade to the LUNC blockchain that will enable projects and builders from Cosmos and Terra (LUNA) to develop on the Terra Classic chain in conjunction with the Cosmwasm v1.1.0 upgrade on May 31.

The upgrade offers a number of essential features, including upgraded Cosmos SDK and Tendermint, enhanced code maintainability, and a minimum initial deposit for governance proposals that will prevent spam.

Since the proposal has been approved, the Joint L1 Task Force requested that all validators and nodes install and run the most recent update version, v2.0.1.

Value-Driven Alternatives to Terra Classic LUNC

Investors seeking alternative investment to LUNC have the opportunity to explore new crypto assets with low risk-to-reward ratios and the potential for 10x investment returns.

One such crypto asset is $AI, the utility token of the meme generation platform, AiDoge.

AiDoge is a ground-breaking meme platform that combines the fun of online memes with the capabilities of artificial intelligence (AI).

At its core, the innovative platform uses advanced machine learning algorithms trained on large datasets of existing memes and crypto news to generate an endless stream of relevant and captivating memes.

The revolutionary meme-to-earn (M2E) model has caught the attention of many investors in the crypto industry as its presale has garnered over $8.5 million in a few weeks.

The $AI token is available for purchase at the price of $0.0000308. However, interested investors must hurry before its price increases to $0.0000312 in a few days.

Another asset investors can consider is $ECOTERRA, the native token of the eco-friendly project ecoterra.

Ecoterra is pioneering a ground-breaking approach for waste reduction and climate change mitigation through its Recycle-to-Earn (R2E) cryptocurrency platform and ecosystem.

The project aims to create a sustainable and self-sufficient community by integrating blockchain technologies and eco-friendly practices while rewarding users.

At press time, the $ECOTERRA token is selling for $0.00775, and its ongoing presale program has raised over $3.8 million.

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