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LUNA is experiencing price volatility in 2023, going through high and low cycles on the charts. It started the year trading at $1.28 on January 1, 2023, and increased to $1.56 by January 9. The bulls drove the price up to $2.70 on January 15, and it traded within that range till February 18, when the bears seized control.
LUNA has declined steadily since then and is trading below its January 1 price level at $1.25. The bears are in control today, encouraged by the increasing FUD levels in the market.
Terra Price Prediction With Technical Indicators
LUNA trades in a downtrend, forming three consecutive red candles on the daily chart. The asset is trading below its 50-day and 200-day Simple Moving Averages (SMA) and has maintained this trend in the last few weeks. It indicates bearish pressure on the assert as traders take short positions.
Also, the 50-day SMA has remained below the 200-day SMA, expressing a long and short-term bearish sentiment. The Relative Strength Index (RSI) is at 35.77 and descending to the overbought region of 30. It confirms the strength of the prevailing bearish trend.
LUNA’s Moving Average Convergence Divergence (MACD) shows a negative value. However, the MACD is rising above the signal line and indicates the possibility of a recovery for the asset.
The support levels are $1.141, $1.188, and $1.225; the resistance levels are $1.309, $1.456, and $1.394. LUNA is currently trading slightly above the $1.225 support.
Despite the bearish sentiments, the Fibonacci levels show an interesting pattern for the asset.
The daily chart reveals that LUNA has strong support at the 38.2 Fib level. The traders often move to long positions whenever the asset touches this support, causing a retracement. Despite the prevailing bearish trend, expect LUNA to test the $1.309 resistance level in the coming days. However, the rally might be short-lived if the bears persist.
Terra (LUNA) Long-Term Price Prediction
Experts have compiled their long-term predictions for Terra (LUNA) based on technical indicators and developments on the network.
LUNA Price Prediction 2023
Coinpedia predicts Terra LUNA will trade at a maximum of $3.63, a minimum of $1.54, and an average of $2.59 in 2023. Bitnation predicts a maximum of $2.26, a minimum of $1.50, and an average price of $1.88.
LUNA Price prediction 2025
Technewleader predicts that LUNA will increase in 2025. They predict a maximum of $4.48, a minimum of $3.82, and an average of $3.93. Captainaltcoin is more conservative with its predictions. They believe LUNA will be worth just $1.88 in 2025.
LUNA Price Prediction 2027
Cryptobullsclub predicts a maximum price of $19.44 and a minimum price of $13.61 for LUNA by 2027. Meanwhile, Changelly predicts LUNA to attain a maximum of $12.31 and a minimum of $10.28, while the average price will be $10.57.
LUNA Price Prediction 2030
Priceprediction.com are bullish on LUNA’s price by 2030. They predict it will trade at a maximum price of $33.98, a minimum of $29.69, and an average of $30.51. Meanwhile, a user in a Quora discussion forum predicts that LUNA will attain $250 by 2030. Insidebitcoins.com author Eric Dunne believes that LUNA will trade conservatively at a maximum of $9.8 and a minimum of $6.43 in 2030.
Factors Influencing LUNA’s Price
Several factors are responsible for LUNA’s trend and recent price volatility. One glaring case is the arrest of founder Do Kwon on multiple charges bordering on fraud and criminal acts. Also, South Korean authorities are on a man-hunt for Shin Hyun-Seong (Daniel Shin), Terra’s co-founder.
Do Kwon was finally arrested last week after months of an evading arrest leading to a downtrend in the prices of Terra-related tokens. Authorities suspect the collaboration of several Terra colleagues in promoting unstable investments to the public.
Such reports have eroded investors trust leading to increased FUD levels and placing the crypto market under intense regulatory scrutiny.
Latest Trends On The Terra (LUNA) Network
Here is the latest trend in Terra’s ecosystem that is creating a buzz in the community and renewing hope for investors.
Redacted Launches Proof of Innocence on The Terra Network
Redacted money operating on the Terra network seeks to provide users with secure transactions and financial privacy. Users can manage financial transactions seamlessly without bothering about the exposure of their identities.
https://twitter.com/redacted_money/status/1638636197617565702
Also, they allay the fear of regulations due to on-chain privacy among users using the Proof of Innocence protocol. This protocol allows users to prove that received funds are not from sanctioned or blacklisted addresses.
This will help differentiate the hackers and black market dealers from innocent token holders who want to transact. This Proof of Innocence is open for verification to anyone, thus aiding transparency and preventing regulatory sanctions.
Alliance Module By Terra Now Functional On Kujira Mainnet
The Kujira mainnet is now operating with Alliance 0.1.0. This module enables multiple assets staking on a blockchain. Staking is now gaining popularity as more crypto networks transition to this security mechanism to eliminate the energy consumption of Proof-of-Work models.
Alliance enables the assets on one chain to stake on the other creating a beneficial partnership through inter-chain staking. It means that assets can be minted on one chain, bridged, and staked on a different chain. Also, staking on Alliance is straightforward, like native asset staking.
Such innovations are capable of sustaining the Terra network for the coming years. Adoption and innovations are vital to the sustainability of a crypto project.
LUNA Alternatives
As LUNA tries to shake off the bears, some ongoing altcoin presales are worth investing in and will reward users. Also, these presale tokens are relevant for now and in the future.
C+Charge (CCHG)
C+Charge, one of the best presales in 2023, is a few hours away from its conclusion for eventual listing. The platform provides an efficient charging system for electric vehicle (EV) owners.
Users can recharge their vehicles with the CCHG tokens that control the ecosystem and receive carbon credits as rewards. CCHG will list on the BitMart exchange on March 31, 2023. This listing will lead to a price boost for the token and reward early investors.
CCHG tokens can be purchased with BNB or USDT using a mobile or desktop crypto wallet. Also, a mobile app is in the works after launch, making the process easier for users.
C+Charge is non-discriminatory and provides charging solutions for private and commercial EVs. Investors must act fast to benefit from the last stage of the presale.
Fight Out (FGHT)
Fight Out is a Move-to-Earn (M2E) and Play-to-Earn (P2E) initiative that hopes to motivate users to lead healthier lives. The platform combines a fun approach with an intense workout to achieve desired results.
It caters to professional athletes and amateurs who can compete and develop their fitness regimens. Also, the personalized avatars reflect individual progress and serve in competitions against other players.
Fight Out presale is a resounding success, with over $5.9 million raised so far. Now in the closing stages, the scramble for FGHT tokens is on among investors. The long-term vision involves becoming a virtual training portal and launching physical fitness centers. These centers will feature the best training equipment available.
The project is relevant in the health and fitness sector and has come to stay for good. Early investors will receive bonus tokens once the presale ends.
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