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LUNC Price Prediction: LUNC is Up 1.3% in 24hrs. Can LUNC Achieve a New ATH?

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As the cryptocurrency market continues to see fluctuations, all eyes are on LUNC, which has recently seen a 1.3% increase in the last 24 hours. 

LUNC has been in the spotlight among investors and traders alike, with many wondering if it has the potential to achieve a new all-time high (ATH) after a recent dip in value. But can LUNC achieve a new all-time high?

LUNC Seeks Project Partnerships

The need for liquidity on $LUNC is crucial, and ‌out of the 27 projects listed on our chain, only one is actively operating and not native to the chain. This narrative can lead one to conclude that all L2 utility is pointless and drains liquidity from L1 (in this case, LUNC).

This issue isn’t solely about Terra; it pertains to any project seeking to launch on our chain. Rather than viewing Terra as the primary coin for this chain, we should see it as a tool that enables others to build on our blockchain. LUNC is and always will be the primary coin.

Terra Luna Classic (LUNC) Price and Market Performance as of April 5, 2023

Over the past week, LUNC has experienced a 1.82% price increase, and in the last 24 hours, it has pumped by 1.30%. 

Despite a slightly bearish sentiment in the crypto market, the long-term outlook for LUNC remains bullish, with a potential price target of $0.00029 by 2024.

The total circulating supply of Terra Luna Classic is currently $589,342,111,033.11, and the market cap for LUNC remains at $733,158,474. At the time of writing, the price of Terra Luna Classic (LUNC) is trading at $0.00012413 with a 24-hour trading volume of $42,270,822. This reflects a 1.38% increase in price over the past day and a 1.85% increase over the past week. 

With a circulating supply of 5.9 trillion LUNC, the market cap of Terra Luna Classic is valued at $731,242,403. The all-time high price for Terra Luna Classic (LUNC) was recorded at $119.18 on April 5, 2022, which is now 12 months ago. In comparison, the current price is 100.00% lower than the all-time high.

Similarly, the all-time low price for Terra Luna Classic was recorded at $0.000000999967 on May 13, 2022, which is 11 months ago. The current price is 12,338.83% higher than the all-time low price.

Over the last 7 days, Terra Luna Classic (LUNC) has seen a price increase of 1.80%, which is lower than the global cryptocurrency market’s increase of 2.10%. Additionally, compared to similar smart contract platform cryptocurrencies, Terra Luna Classic is underperforming with a 6.60% increase.

LUNC/USDT Indicator Analysis: Price Prediction

LUNC/Tether Daily Chart Analysis. Source: Tradingview.com
LUNC/Tether Daily Chart Analysis. Source: Tradingview.com

LUNC’s price is still within the consolidation phase despite rising from the bottom support level. As per the analysis on this chart, the price of LUNC is still far from reaching the desired target. Over the past week, LUNC has shown an impressive upward trend, which shows that the bulls will fight harder to push the price up.

Additionally, the price of LUNC is still trading below the 50-day and 200-day moving averages, which shows that as the bulls continue the upward trend, the price has to break above the moving averages for confirmation to take place.

The relative strength index also shows a slight upward move above the 50-level mark. Based on the analysis above and the fundamental analysis of LUNC, we can predict that the price of LUNC will reach $0.0001526 by the end of Q2 of 2023.

Related:

Synthetix Price Prediction for Today, April 4: SNX/USD Moves to Cross Above $3.00 Resistance

Curve DAO Token Price Prediction for Today, April 4: CRV/USD Moves Near $1.10 Resistance

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