Terra Classic (LUNC) Price Prediction: Are The Bears Still In Control?

LUNC is down in the market today, trading below its March 14, 2023, price of $0.0001333. The asset fell to $0.0001316 on March 17 and has struggled with bearish pressure since then. However, it trades at the $0.0001232 price level, raising hopes for a revival.

LUNC Price Prediction 

LUNC is bearish and trading below its 50-day and 200-day Simple Moving Averages (SMA). It entered a bearish trend from March 3-11 and is currently in a consolidation phase. However, the red candle on the chart today confirms that the bears are in control.

The 50-day SMA has remained below the 200-day SMA, a long-term bearish signal. Also, the Relative Strength Index (RSI) is currently at 35.89, close to the oversold region of 30. However, the indicator is moving sideways, reflecting the persistent sideways trend in recent days. 

LUNC’s Moving Average Convergence/Divergence (MACD) shows negative values and a bearish signal. Similarly, the MACD is close to the signal line and reflects the current sideways movement. However, green bars are forming on its histogram, hinting at a possible break on the upside.

The support levels are $0.000119, $0.000120, and $0.000123; the resistance levels are $0.000128, $0.000130, and $0.000132.  LUNC is currently near its closest resistance level of $0.000123 and under bearish pressure. Expect further decline close to the $0.000120 support in the coming days.

LUNC Long-Term Price Prediction

Some experts have compiled long-term price predictions for LUNC based on several factors. 

LUNC Price Prediction 2023

Binance predicts that LUNC will trade at $0.0001228 in 2023, with no drastic increase expected. Bitcoinwisdom predicts that LUNC can attain a maximum price of $0.000194, a minimum price of $0.000155, and an average of $0.000181.

LUNC Price Prediction 2025

Ambcrypto predicts LUNC to trade at a maximum of $0.0003, a minimum of $0.00032, and an average of $0.00019 in 2025. Bitnation indicates a maximum price of $0.000469, a minimum of $0.000395, and an average of $0.000432 in 2025.

Factors Affecting LUNC’s Price

Several factors might affect the price of LUNC. These factors range from macroeconomic factors like interest rates, forces of supply and demand, and investor fear and greed index. Also, certain developments on the network could contribute to LUNC’s price behavior.

LUNC Founder Do Kwon was Arrested

Do Kwon, the founder of LUNC, was arrested in Montenegro, with Us prosecutors filing multiple charges against him. Filip Adzic, Montenegro’s interior minister, announced the arrest on Twitter. He stated that one of the world’s most wanted fugitives is detained at Podgorica, the country’s capital.

Do Kwon was allegedly traveling with an alibi under a false name and using fake documents? However, South Korean police confirmed his identity matching his fingerprint with official records. Currently, officials are working on extradition to South Korea.

Previously, Kwon’s location had been speculative, with rumors swirling he was in Serbia at some point. Prosecutors in the US Manhattan district court said that Do Kwon is facing several charges. These charges border on wire fraud, securities fraud, conspiracy, and commodities fraud. 

Kwon was charged with fraud by the U.S Security and Exchange Commission (SEC) nine months after LUNA’s collapse. Also, the US Department of Justice (DOJ) launched an inquisition into LUNA’s spill.

The U.S. regulators believe that Kwon and Terraform Labs withheld crucial information from the public on the true nature of some crypto assets. LUNA and TerraUSD were the items with the most interest.

Meanwhile, SEC investigators are reviewing the relationship between Terra blockchain and Chai, a South Korean payment platform. They believe Kwon misled investors to think Chai transactions were hosted on Terra’s Blockchain. 

Similarly, the Singapore Police Force (SPF) is investigating Terraform labs and Do Kwon. These adverse events could spike FUD levels among investors leading to a drop in LUNC’s price.

LUNC Token Burns Spark Hope Of Recovery

Despite the current events on the network, the LUNC community is currently addressing a token burn proposal. The proposal launched with an initial deposit of 255,415 LUNC with one million tokens required to kickstart voting.

The proposal dubbed ‘proposal 11398’ is embedded with the message “burn community pool.” Binance previously burnt 8.9 billion LUNC tokens in their quarterly burn exercise. These figures represent 50% of the total spot and margin trade fees for LUNC in the past three months. The total number of LUNC burned is now at 50.11 billion tokens. 

Terra Classic’s community pool proposed a burning of 235 billion LUNC, which is 3.4% of its supply. The community hopes the token burns will fuel scarcity and drive the price to $1.

Alternate Projects That Will Reward Investors

While LUNC trades in the red, some ongoing Altcoin presales will reward investors.

Fight Out (FIGHT)

Fight Out is a revolutionary platform combining physical fitness and Play-to-Earn (P2E) and Move-to-Earn (M2E) initiatives to reward users. With interactive data and vital statistics, users can quickly achieve their fitness goals without the demotivating aspects of personal training. The Fight Out mobile app provides access to the best training plans and information for users to monitor their daily progress and achieve their goals.

The platform has garnered interest from top combat athletes and plans to set up physical training centers in 20 locations worldwide. Engaging game modes such as Player vs. everyone (PVE) and player vs. player (PVP) provide users a well-rounded experience.

Users can create their avatars and compete against others, with their real-world achievements reflected in their avatars. Fight Out’s training ground at its basic level allows users to complete tasks and increase their avatars’ stats. Users can also compete against accomplished athletes and potentially defeat them if their avatars are strong enough. The ecosystem is powered by the FGHT token, currently in its presale stage, with over $5.6 million raised, each token worth $0.0309.

Metropoly (METRO)

Metropoly is a blockchain-powered platform disrupting the traditional real estate investment industry. Historically, institutional investors have had an advantage over individual investors, making it difficult for the latter to participate in the market. However, Metropoly has introduced fractional ownership, enabling investors to invest in real estate with as little as $100.

The platform tokenizes real estate properties into NFTs, broken down into smaller pieces, allowing for fractional ownership. This approach reduces the barriers to entry for individual investors and lowers the risks associated with traditional real estate investments. As real estate properties appreciate over time, many investors view Metropoly as a promising investment opportunity.

METRO is the native token that powers the Metropoly ecosystem. It is in its tenth presale stage, with each token valued at $0.0714. The presale is almost complete, and the token will soon be listed on exchanges. Many investors have already expressed confidence in the project, and Metropoly is expected to transform the real estate investment industry.