LUNC Price Prediction: New Proposal Sparks Hope In Terra Classic Community

LUNC is volatile today. Despite its slight price gains, it is trading below yesterday’s closing price of $0.0001069. 

Also, its trading volume is up today by more than 45%, reflecting intense market activity. 

LUNC Price Action In 2023

LUNC traded at $0.00015 on January 1 and spiked to $0.0001692 on January 9, 2023. It touched the $0.0001806 price level on January 15 before retracing to $0.00017 on January 16. 

In February, the bull rallied to $0.0002027 on February 3, for the first time in 2023, before returning to the $0.00018 range on February 5. The bears returned in March to drive LUNC down to $0.0001455 on March 4. 

The bearish trend continued in April, aided by the news of Terra’s CEO Do Kwon’s arrest alongside his associates.  However, if the bulls prevail, May could usher in a price increase for the asset.

LUNC Price Prediction With Technical Indicators

LUNC is trading below its 50-day and 200-day Simple Moving Averages (SMA), a bearish signal in the short and long term.

Also, its Relative Strength Index (RSI) is 32.34, dropping into the oversold region of 30. It indicates the bearish pressure in the market. But a drop into the oversold region can reactivate the bulls and push another rally. 

LUNC’s Moving Average Convergence/Divergence (MACD) is below its signal line and shows a negative value. This is a bearish sentiment and indicates further price decrease ahead. 

LUNC Support And Resistance Levels

LUNC is currently at the $0.00010421 support level. A drop below this level will lead to further descent for the asset.

Its resistance levels are $0.00010668, $0.00012150, and $0.00013187. LUNC lacks sufficient bullish pressure to test its resistance levels.

 It will likely decline below the $0.00010421 support level to enter into the oversold region in the coming days. 

Factors Affecting LUNC’s Price

Several factors could affect the price of an asset. These factors could act independently or in combination to affect the asset’s price. 

1)Volatility: crypto markets are notoriously volatile and can quickly deviate from a price direction. This volatility affects the price of altcoins with exposure and correlation to large-cap cryptocurrencies such as Bitcoin and Ethereum. 

2) Regulations: Crypto regulatory frameworks are tightening the security loopholes to protect investors. FTX’s crash in 2022 caused a negative ripple effect leading to a bear market. 

However, the regulatory pressure has often stirred adverse reactions as crypto developers claim the agencies do not have clearly defined rules. 

Notably, these regulations vary across different jurisdictions, with some flexible while others are stringent.

3) Laws Of Supply And Demand: The laws of supply and demand hold for every financial market. If there is excess supply and low demand, an asset’s price will decline with an excessive circulation of tokens. However, if a particular token is scarce, the price will likely increase, and demand will exceed supply. Whales and institutional investors use this principle to control the market to a reasonable extent.

Latest Trends On The Terra Network

$LUNC & $USTC outperforming the markets today! Looking good!

Perhaps it’s hype for the #USTC re-peg proposal? pic.twitter.com/pfx0vE4AsG

— Classy ? (@ClassyCrypto_) April 29, 2023

LUNC’s recent proposal aims to support the USTC repeg proposal and return Terra to its former noble reputation before the USTC crash in 2022. Fees will be imposed on trades that deviate from the target peg. 

Based on this proposal, the fee will vary from 0% when the peg holds to 100%, with a 50% deviation from the price peg.

The proposal received 49% support from the community and will roll out in four stages when the development team is ready. The proposal might be a pivot for LUNC to launch a sustained price rally.

LUNC Alternatives

While LUNC experiences price volatility, these tokens on presale will reward early investors. 

AiDoge (Ai)

AiDoge is an Artificial Intelligence coin inspired by the popular  Shiba Inu (SHIB) meme. The platform uses AI technology to generate meme tokens, an innovative feature.

Also, AiDoge is easy to use and navigate.  With a type-in-text prompt, the platform’s AI-driven algorithm will generate a meme based automatically based on the existing query. This meme is complete with image and text support. Additionally, the memes convert to NFTs that are highly beneficial to users.

The AiDoge platform promotes simplicity and non-discriminatory access for every user. The meme culture is here to stay, and Dogecoin and Shiba Inu’s successes prove that memes are relevant. Also, users can share and discuss the memes they create on the public wall provided by the platform.

Voting is also one of the main activities on this platform. Users can select their favorite memes on the wall and earn rewards if they rank as top creators. These rewards are Ai tokens that power the AiDoge ecosystem. Users receive these rewards monthly, and new rankings are processed after each reward event.

Ai tokens are currently on presale worth $0.000288 each. The presales have drawn attention from investors raising more than $1.36 million out of the $1.98 million required. 

Ecoterra (ECOTERRA)

Ecoterra is a waste-to-wealth initiative, recycling waste to keep the environment safe and clean while rewarding its users. With the Ecoterra recycling app that will launch soon, each item for recycling receives a value based on environmental impact. This system ensures that users engage in regular recycling activities to earn rewards. Also, Ecoterra offers a Carbon Offset Marketplace to trade carbon credits and offset carbon emissions. 

The Global Carbon Project reports that global carbon dioxide (CO2) emissions hit 36.8 billion tons in 2019. This is a 62% increase from the carbon emission figures obtained in 1990. Ecoterra supports the drive to rescue the environment and supports activities like recycling and beach cleaning.

ECOTERRA is the utility token that powers the platform’s activities. It serves as the medium of carbon credit purchase to process carbon offsets. Also, users convert their achievements to NFTs at significant milestones in offsetting carbon credits. ECOTERRA tokens serve different purposes, such as eco-activities, staking, and personal investment.

The ECOTERRA presale is ongoing, with each token worth $0.007. $The target of this presale stage is $3.150 million, with $2.963 million raised and just 3 days left. The next presale round will push the token’s price to $0.00775. ECOTERRA will list at $0.01, thus rewarding early investors.