Terra Classic (LUNC) Shows 10% Weekly Surge: Is a Market Rally Brewing?

Updated: 13 June 2023

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Terra Luna Classic (LUNC) token has experienced a significant surge in price over the past week and in the last 24 hours. In the previous 7 days, LUNC has risen by more than 10%, providing investors with a notable increase in the value of their holdings.

Moreover, in the past 24 hours alone, the token has seen a rise of 12.53%, further boosting investor confidence. While LUNC gains, a new project, Ecoterra (ECOTERRA), currently in its presale phase, is positioning itself as an attractive investment option for early investors.

ECOTERRA’s growth potential showcased in its early stages may present an opportunity for investors looking for promising projects. In the meantime, let’s look at possible future price trends of the LUNC token and Ecoterra.

Recent Price Action Of LUNC

Terra Classic (LUNC) has experienced various price swings since the beginning of June. On June 4, the token reached its peak price of $0.0001141, which marked the highest point for LUNC throughout the month.

However, this peak price was only for a short period as LUNC’s price mostly fluctuated between the ranges of $0.00008 and $0.00009. These prices have served as support and resistance points for the token, indicating a certain level of stability within this price range.

As of yesterday, June 12, LUNC’s price peaked at $0.00009072. Comparing the price to its current price of $0.00009625, today shows a notable increase.

LUNC’s Price Technical Indicators Suggest More Bullish Days Ahead

Terra Classic (LUNC) shows signs of a potential bullish trend in the short term, as some technical indicators indicate. One of these indicators is the MACD (Moving Average Convergence Divergence), which currently gives a buy signal.

This signal occurs when the MACD line moves above the signal line, suggesting a shift in momentum favoring the bulls. This buy signal indicates a potential upward movement in LUNC’s price.

In addition, the current price of LUNC is slightly above its 50-day Moving Average (MA). The 50-day MA represents the average price of the token over the past 50 days.

Since LUNC trades above this MA, its recent price action has exceeded the average, a positive signal for potential price appreciation. However, it must be noted that LUNC is still trading below its 200-day MA. The 200-day MA is a longer-term moving average that can act as a significant resistance level.

Its presence above the current price suggests that there may still be some resistance to overcome before a sustained bullish trend can be confirmed.

Considering the Relative Strength Index (RSI), which currently reads 52.83, LUNC appears to be in a neutral position. The asset stands between the 30 and 70 marks, representing the oversold and overbought regions, respectively.

LUNC price in this position and also pointing upwards imply that there is room for buyers to keep dominating the market for the time being. Once it reaches the oversold region of 70, a trend reversal to the downside will occur, causing the price to dip.

Ecoterra Positions Itself As An Alternative To Terra Classic

Ecoterra ($ECOTERRA) presents itself as a sustainable, eco-friendly crypto project with the potential to mitigate the greenhouse effect.

It mapped out strategies for its presale processes allowing users to purchase it with fiat currency (using cards), ETH, and USDT. The presale started on March 29, 2023, and is expected to stop on June 19, 2023.

Though, if $ ECOTERRA’s market capitalization hits $6.7 million, it could stop the presale before the set date for ending the presale. Interestingly, since the presale began, the project has progressed with enormous success within a short time.

The native token $ECOTERRA has risen tremendously, from $0.00625 to its price of 0.0092 as of June 12, 2023. It raised over $2,000,000 at a selling price of $0.00625 just in few weeks after its presale started.

Notably, this surge in price could be due to investors’ consideration of its promised listing price of $0.01 and its potential on the environment.

On May 10, 2023, Binance Feed revealed that $ECOTERRA raised $3.5 million. As more investors became interested in the project, the team realized $4.9 million, as reported on its Twitter handle on June 9, 2023.

Three days later, on June 12, the green crypto project, Ecoterra, raised $5 million, as disclosed on its official Twitter page. This predicts possible bullish trends when crypto exchanges list it in the future.

Interestingly, Binance Feed stated that the Ecoterra project is committed, as its team has locked its tokens to be available after 1 year. The token will be distributed for 3 years every month.

Binance Feed further noted that CertiK had audited Ecoterra and verified it. CertiK is a unique crypto security platform that analyzes and monitors blockchain protocols and DeFi projects.

Certik also ranks projects on crypto taking into consideration how secure and safe they are. This information might have influenced investors, increasing their interest in the Ecoterra project.

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