LUNC Price Prediction – Will This Rapidly Declining Trend End?

Terra Classic (LUNC) is now trending in the market thanks to the Testnet Upgrade that took place in the ecosystem. Unlike its past price trends, LUNC is currently recording prevalent bullish trends and projects new milestones to be achieved soon.

The Testnet upgrade will facilitate the development of decentralized apps (dApps) on the LUNC blockchain while aiding the adoption and utility of the token with time. This will positively impact the LUNC network, including its token price, relevance, and popularity.

Today, May 10, 2023, LUNC is trading at $0.00008974 with a price increase of 6.88% at the time of writing. Notwithstanding, crypto enthusiasts hold unto this recent development as well as other technical indicators for the volatility of the asset.

LUNC Past and Present Price Trend

A crypto price trend is vital and helps in determining its future performance. Thus, here is LUNC’s past and present performance since 2023 began.

Terra Classic (LUNC) had a stagnant trade throughout January, despite slight price gains. LUNC traded at $0.0001451 on January 1, 2023, and spiked to $0.0001806 in 16 days (January 16). However, it dropped to $0.0001646 at the end of the month.

It recorded more bullish trends in February, trading between $0.00016 and $0.00020. LUNC recorded $0.0001714 on February 1, $0.0002027 on February 4, and $0.0001918 on February 5. However, by the end of the month, LUNC went down to $0.0001613. 

LUNC drastically lost its past month’s gains in March. It had started at $0.0001634 on March 1 but dropped to $0.0001312 in the space of 9 days (March 9). Bearish pressure on LUNC’s price caused it to decline throughout the remaining days of the month. After touching $0.000135 on March 20, LUNC dropped to $0.0001223 on March 31.

Also, the bearish market lingered throughout April, pushing LUNC’s price down to $0.00011. LUNC, trading at $0.000125 as of April 1, dropped to $0.0001118 at the end of the month (April 30).

Since May, there has been no significant bullish record on LUNC’s price trend. Instead, the asset went from $0.00011 on May 1 to $0.00008445 on May 9. 

Today, May 10, LUNC is trading at $0.0009155, an 8.68% price increase compared to its last price at the time of writing. Notwithstanding, crypto enthusiasts look forward to the recent Testnet Upgrade for LUNC’s recovery. 

LUNC Price Analysis with Technical Indicators

LUNC has 22 indicators with bearish signals and only 8 with bullish signals. Notwithstanding, it trades above its yesterday’s price of $0.00008445 by 10.37% at the time of writing.

In contrast, LUNC is trading below its 50-Day and 200-Day Simple Moving Average (SMA), representing a short and long-term bearish market for traders. 

Also, the Relative Strength Index (RSI) value is at 30.43, confirming the prevalent bearish trend of LUNC in the coming days to weeks. Meanwhile, the upward movement of the RSI line represents the market’s effort to escape from the oversold region (below 30). 

The asset’s Moving Average Convergence/Divergence (MACD) is below the signal line, and its negative values indicate the present bearish trend of LUNC. 

However, the faded red bar on the histogram hints at LUNC gaining slightly in the new few days.

LUNC support levels are $0.00005339, $0.00008380, and $0.00009656. In contrast, its resistance levels are $0.00013287 and $0.00019328. 

LUNC is trading below its strongest support levels, indicating more fluctuations in the long run. 

Meanwhile, its resistance levels hint at the possible milestones the asset could reach soon.

Factors Affecting LUNC’s Price

Factors like the laws of supply and demand, regulatory crackdowns, investors and market sentiments, and developmental events in a crypto ecosystem can impact the prices of cryptocurrencies. 

In the Terra Classic (LUNC) ecosystem, many notable events have contributed to the price actions of the crypto. 

Here are some of the recent news and developments in the LUNC network.

Terra Classic L1JFT upgrades Testnet to v2.0.0

Terra Classic blockchain’s L1 Joint Task Force (L1JTF) has upgraded the Testnet to a higher version, v2.0.0. According to the team’s part-time developer, Till, on Twitter, the Testnet upgrade with Cosmos SDK v0.45 is a vital milestone for the project because its new features will enhance the functionality and security of the project.

According to Till, Lunanauts, Allnodes, StakeBin, SolidVote, StellarDrift, and edk208 are the only six validators that participated in the success of the upgrade. 

Furthermore, the project manager of the L1 team, LuncBurnArmy, has sent a proposal to also upgrade Terra Classic’s core mainnet to version 2.0.0, scheduled for May 17. This will introduce a shift to the Tendermint v34.24 and Cosmos SDK v0.45 upgrades.

Following the positive reactions of the LUNC community based on this upgrade news, LUNC is likely to experience a continuous rise in price over time.

Terraform Labs Transfers Tokens Worth Millions Again

The huge amount of Convex Finance (CVX) tokens sent to a different wallet as of Tuesday by Terraform Labs is raising fear again in the market. After the last Terra-LUNA crisis that sapped $40 billion from investors, they’re afraid to make further trades to avoid losing their money again if a crackdown begins in the crypto market. 

Also, following the past lawsuits on Terraform Labs co-founders Daniel Shin and Do Kwon, many investors are now skeptical about involving in any investments with Terraform Labs. 

If more scary events emerge in the ecosystem, all Terraform’s assets, including LUNC, may decline.

LUNC Alternatives

While Terra Classic (LUNC) faces its share of the market’s sentiment, other altcoins have promising potential to consider.

yPredict (YPRED)

yPredict is a revolutionary new crypto project building an AI-driven toolkit for analysts, traders, software developers, and quants. In other words, it builds a predictive model marketplace for all crypto and AI enthusiasts. 

It allows users to develop unique prediction models and share them across the platform’s marketplace, charging a subscription for others to use. The AI-powered models study the market’s movement, enabling them to read accurate analyses and give ideal predictions.

All activities and transactions on the yPredict platform are powered by its native token, $YPRED. The tokens are utility-infused, making them a highly valuable token in the crypto space. 

$YPRED is currently on sale on the yPredict’s official presale platform at $0.05. Early investors are entitled to a 140% discount from its listing price of $0.12. Over 80% of the tokens are already sold out, raising over $830,000. Don’t miss out on this!

AiDoge (AI)

AiDoge combines artificial intelligence with the meme-to-earn concept to deploy its users into the ever-adapting era of crypto and AI. It’s a crypto-powered meme generator that runs on Web3. It allows users to explore its features using its native token $AI. 

With $AI, users can purchase credits to generate memes and share them across their public walls on the platform, enabling others to check them out and pick the best. At the end of every month, the best meme creator and users that voted on the memes will receive crypto rewards.

The $AI tokens are fast selling out because of their numerous use cases. Currently, it’s in the 9th stage at $0.0000288, with over $5.2 million raised. The tokens will hit their initial exchange at $0.0000336 and spike afterward, rewarding early investors with huge investment returns.