Terra Classic Price Prediction: Experts Anticipate Significant Growth for LUNC, Forecasting Price Increase to $10

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LUNC, the native token to the Terra Classic ecosystem could be on the brink of a significant breakout, as it flaunts 0.48% in 24-hour gains on Monday. However, like many cryptos in the market, LUNC faces considerably reduced trading volumes. This makes it difficult to sustain trend reversals and often culminates in deeper retracements.

However, a careful evaluation of its short-term market structure reveals an improving bullish outlook, but one that relies on crucial support highlighted by the 50-day Exponential Moving Average (EMA) on the four-hour timeframe chart.

Terra Classic Price In Initial Stages of Bullish Move

Leo Smigel, the founder of Analyzing Alpha has recently expressed a lot of optimism for Terra Classic price. He mentions key contributions from big players such as Binance and KuCoin and the token burn drive.

Smigel believes the Terra Classic community is heading in the right direction as they implement strategies to grow the ecosystem following the Terra (LUNA) crash in 2022.

The community has proposed a change to the token burn program where a 1.2% tax will be applied to all LUNC transactions to bring down supply from 6.5 trillion to approximately 10 billion.

Crypto networks with massive circulating supplies often implement token burn programs to reduce supply and increase demand, Shiba Inu (SHIB) for example. As supply and demand dynamics change, it is possible for these networks to eventually grow.

“Big players like Binance and KuCoin are on board, further boosting LUNC’s potential. Their participation in the burn initiative reinforces the revival efforts and could inspire more exchanges to join the ranks. The sustained burn initiative combined with this support can pave the way for LUNC’s short-term growth and trading volumes,” Smigel said in a statement.

Not all analysts agree that Terra Classic price is moving in the right direction. Craig Leontowicz from HowToBuyBitcoin101.com forecasts another LUNC drop to $0.00004259 by the end of 2023 – which will mark a 50% drop from the current market value.

“The current price of Terra Classic, at the time of this writing, is $0.00008519. That’s four zeros in the decimal point number. Who is trading this? My price prediction for the end of 2023 for this esteemed digital asset is $0.00004259. Or down about 50%. The only pumps in Terra will be to the downside,” Leontowicz said.

Meanwhile, Terra Classic price is holding on for dear life at the 50-day EMA, which if defended, might be the springboard LUNC needs to trigger a considerable rebound, targeting highs above $0.0001.

Holding above the 50-day EMA (in red) at $0.00008735 would not be enough, hence bulls must purposely push the price above descending trendline and subsequently the 100-day EMA (in blue) at $0.00008925.

Traders who may want to capitalize on short-term long opportunities in LUNC may want to closely watch the Moving Average Convergence Divergence (MACD) indicator, which currently dons a buy signal.

However, the situation might change if Terra Classic slides below the 50-day EMA support amid increasing overhead pressure from the descending trendline and the 100-day EMA, as earlier discussed.

That said, we cannot rule out the possibility of a sell signal, which would manifest with the MACD line in blue flipping under the signal line in red. Moreover, declines may intensify as the momentum indicator returns to the negative region below the mean line.

Can LUNC Price Reach $10?

Terra Classic price enjoys the support of two tier-1 crypto exchanges: Binance and KuCoin. With such backers, the ecosystem has a higher probability of remaining competitive.

A massive breakout in LUNC price might, however, be a tall order, considering the shaky market structure due to the long-standing crypto winter.

Furthermore, Terra Classic price movement is significantly dampened by its vast token supply. Therefore, the community must take the token burn program seriously and work on aggressively reducing supply if they would like to see LUNC price sustain a rally toward the ambitious $10 target.

According to insight from the founder of The Crypto Breakdown, Gustaf Kornias, the ecosystem has been witnessing a massive slump in the DeFi Total Value Locked (TVL). He explained that the TLV has been consistently declining since the collapse of Terra in May 2022.

Terra Classic’s TVL currently stands at an all-time low of $2.7 million, implying that the adoption of the protocol has gone down significantly.

“When it comes to the growth of its developer ecosystem, most high-profile projects having abandoned Terra Classic. These projects have either built their own application-specific blockchains in the Cosmos ecosystem or simply migrated to other Cosmos blockchains such as SEI, Osmosis, and Injective,” Kornias.

Wall Street Memes Token – LUNC Alternative to Buy

Since the Terra Classic recovery is a wait-and-see situation, investors may want to expand their scope to include some of the best crypto presales to buy in 2023 like the Wall Street Memes Token ($WSM).

The idea behind The Wall Street Memes is to battle long-standing and rampant capitalism, just as Gordon Gekko said in the 80s as he got wealthy off useless stocks that “Greed is good!”

Three decades down the line, there are investors like those who caught the PEPE rally early, searching for useless meme coins, intending to get rich.

Introducing $WSM – yep, we’ve gone and done it.
The community token that’s flipping the Wall Street Memes game upside down! ?

We have 50% of the #Token supply up for grabs in the #Presale and 30% set aside for rewarding our community.?

Let’s make some serious waves together,… pic.twitter.com/fH2TMGmglZ

— Wall Street Memes (@wallstmemes) May 27, 2023

The Wall Street Memes ecosystem capitalizes on this same movement, supported by a massive and trusted community on Twitter. Even Elon Musk, the CEO of Twitter and Tesla had been intrigued and engaged with the profile in the past.

Ardent crypto investors know that having a trusted big online community often influences listings on tier 1 exchanges like Binance like what recently happed with Pepe (PEPE).

Interested investors can participate in the presale, which allows them to buy 1 $WSM token for $0.0253 using either Ethereum (ETH) or Tether (USDT).

The project has raised $874k within days of the presale’s debut but those interested must hurry before the price hikes to $0.0256 per token in the next round, expected in a few days.

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