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The crypto market is still riding the bullish waves despite a broader financial market collapse. So far, the nascent industry has surged 1.84%, with Bitcoin and Ethereum leading the rally.
Defunct stablecoin maker LUNC is also profiting from this rally, as it is up 3.5% in the last 24 hours. With growing scrutiny targeted at the crypto market, will LUNC hold on to its surge and reach new price levels?
LUNC Eyes New Price Levels
At the time of writing, the Terra classic coin trades at $0.000129, following a surge of 3.55% in the last day. The digital asset decline in value has been ongoing for a while, with a 3.3% drop in the last seven days and 23.0% in the last month.
This rebound could help the crypto asset find a foothold and head to a new price as the broader market rallies.
With its price rise, LUNC’s previous slumps in value have influenced the technicals with bearish movement. The crypto asset trails all its major moving average (MA) indicators, ranging from the 50-day MA of $0.00016 to the 200-day MA of $0.00019.
Nevertheless, a steady bullish momentum could see LUNC catch up to these indicators soon.
On the technical front, LUNC met resistance at the 38.2% Fibonacci retracement of $0.00017 and has been on a free fall since then. However, the digital asset has recently gained traction and is retracing to the 23.6% Fibonacci retracement level. This level could act as a resistance, or LUNC could break through to new heights.
Unsurprisingly, LUNC’s moving average convergence divergence (MACD) value trails above the signal into a buy zone. However, with the token’s relative strength index (RSI) being just 39.56, investors can feel confident that it is not overbought yet.
LUNC’s technical performance is currently weak. However, a steady bullish momentum along with the market rally can see the asset break through and advance to a new price point.
Terra Luna Classic Could Become Artificial Intelligence Chain
The Terra Luna Classic community is divided over whether the LUNC is becoming an AI chain. This was due to speculations from core developer Edward Kim, who suggested implementing artificial intelligence (AI) and machine learning (ML) solutions on the chain.
Finding our Identity Block by Block https://t.co/5JDoH4IYOJ
— Edward Kim (@edk208) March 20, 2023
One of the few important figures driving the Terra Classic resurgence and important ideas like the burn tax is Edward Kim.
In a recent Medium article, Edward Kim revealed that he is developing a Cosmos Proof-of-Stake (PoS) machine learning software chain that decentralizes the power of AI.
He believes the Terra Luna Classic chain is getting ready to restore utility by upgrading with the most recent WebAssembly (wasm) and cosmos support as part of the Terra Classic Restoration Roadmap.
Consider These Altcoins for Profits
While LUNC has shown weak technical and fundamental performance, some new crypto projects are grabbing several investors’ attention. Given that they are currently in their presale stage, value-driven investors can easily buy low for higher margin gains.
One such recommended altcoin is the $CCHG native token of C+Charge.
Electric vehicles (EVs) are becoming more popular as the world shifts toward more sustainable modes of transportation. However, a significant barrier for many EV owners is a lack of charging infrastructure.
C+Charge, a blockchain-based payment and charging station search platform, is attempting to address the issue of limited EV charging options.
🚨Attention, everyone!
⏰Only a few hours left until Presale Stage 7 closes!
Take advantage of this opportunity to buy before the price increases🔥
Buy now and support the #crypto revolution ⬇️https://t.co/ixe18bPqzI#Presale #Blockchain pic.twitter.com/Qmd7lM37vy
— C+Charge (@C_Charge_Token) March 22, 2023
At press time, one CCHG token is selling for $0.02. So far, the amazing response to the project has seen it raise over $3.21 million in presale.
FGHT, the native crypto token for Fight Out, is another value-driven altcoin to explore.
Fight Out is a play-to-earn gaming ecosystem combining a train-to-earn framework to give users an avenue to develop their health and win prizes.
🚨 $5.7M RAISED 🚨
Less than 10 days left to get involved in the #Presale!
Get in early and secure your BONUS 🔥
👉 https://t.co/9pikKGRjSd#FightOut #Crypto #P2EGame pic.twitter.com/91GfvpWuCn— Fight Out (@FightOut_) March 21, 2023
At the time of writing, one FGHT is selling for $0.03. The project has raised more than $5.72 million from investors in its ongoing presale.
Related News
- Terra Luna Classic Price Eyes One More Dip Before Rebound – How Soon Can LUNC Reach $0.00021?
- LUNC Price Prediction: LUNC Is in a Recovery Mode. Can It Reach Its Previous Resistance at $0.00021?
- LUNC Price Prediction: LUNC is up 8% In 24 Hrs to $0.00013. Can It Still Hit $1?
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