LUNC Price Prediction: LUNC is up 8% In 24 Hrs to $0.00013. Can It Still Hit $1?

The price of Terra Luna Classic has recently hit a new low for 2023, following a significant decline in early March. However, over the last 24 hours, LUNC has returned to this level of $0.00013 and established a sturdy foundation for a potential recovery rally. 

Terra Luna Classic Is Gearing Up for an Upward Trend

Terra Luna Classic’s price has been consolidating within the $0.0001813 and $0.0001320 ranges for a period of three months since December 2022. The altcoin previously fell below the low range in late December but managed to bounce back with a 40% increase initially and a 60% surge at the beginning of 2023 through to the beginning of February. Although the current deviation below the range low is attempting a recovery, three signs can confirm a 

Terra Luna Classic’s price has hit an order block at $0.0001339, which could generate buying pressure. LUNC has formed a double bottom at $0.0001271, creating a solid base for a potential upward movement. The final requirement for a bounce is a shift in market structure over a shorter time frame.

IF YOU'RE BULLISH ON $LUNC & YOU KNOW IT CLAP YOUR HANDS pic.twitter.com/OOamzX6xZn

— Classy 🔮 (@ClassyCrypto_) March 12, 2023

LUNC Price Analysis

LUNC was launched in 2019, and its price remained relatively stable between $0.2 and $1.3 until April 2021. However, during the mid-2021 crypto market boom, its value increased and reached $100 by the end of the year.

From the start of 2022, LUNC’s price fluctuated between $50 and $100, and on April 5th, it reached an all-time high (ATH) of $119.18. However, the Terra system collapsed the following month, and the price of LUNC began to decline, hitting the bottom at $0. However, the price has since been increasing and is currently at $0.00013.

At the time of writing, LUNC is trading at $0.00013033, with a 24-hour trading volume of $69,717,435. This represents a 7.94% rise in price over the last 24 hours, although the cryptocurrency has experienced a decline of 10.15% over the past seven days. The market cap of Terra Luna Classic stands at $769,320,418 with a circulating supply of 5.9 trillion LUNC.

Over the past 7 days, Terra Luna Classic (LUNC) has experienced a price drop of -10.10%. This is a weaker performance compared to the global cryptocurrency market, which is down only -1.70%. LUNC is also underperforming compared to other smart contract platform cryptocurrencies, as they have seen a 0.60% increase in their prices.

LUNC Price Prediction: LUNC/USD Daily Chart. The Inevitable Rebounce

Given the current oversold conditions and deviation below the range low of $0.0001320, the Terra Luna Classic price is likely to bounce back. This is due to the significant shift in market structure, which is evident in the production of a higher high with an impulsive move on a timeframe lower than four hours. The higher high should exhibit an imbalance, or Fair Value Gap (FVG). Identifying this shift in market structure allows for a standard timeframe of entry when the altcoin retraces into the FVG.

LUNC bottomed at $0.00012 after a new series of bearish moves. However, the coin is in rebound mode after showing a bullish move in the past 24 hours and an 8% move up. The LUNC token has been trading in a consolidation phase since December 2022. If the movement is strong enough, the price of LUNC will hit a fresh all-time high of $0.00026.

At the time of writing, the price of LUNC is trading below the 50-day and 200-day moving averages. However, with the rebound signal, the price might break above the daily moving averages and eventually out of the consolidation phase.

The relative strength index (RSI-14) is also in an uptrend, trading at 34.71, up from 22. With the analysis above and the fundamental information, the price of LUNC might reach $0.00026 by the end of Q1.

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