With the heavy selling of LUNC in recent months, some traders might think that it has reached its lowest point and could potentially recover significantly.
However, the lack of a unified strategy within the Terra Luna Classic community to boost LUNC suggests that the altcoin may continue to decline in the long term, with no major rebound expected.
Terra Luna Classic Price Prediction as Bears Push LUNC Down 0.4% – Is the Sell-Off Over Now?
Looking at LUNC’s chart, it is evident that its indicators have been weak for several weeks now.
Most notably, the altcoin’s 30-day moving average (yellow) has remained significantly below its 200-day average (blue) for an extended period, and it continues to decline.
Normally, when the 30-day average falls below the 200-day average temporarily, the asset tends to recover. However, this pattern does not apply to LUNC, as its relative strength index (purple) has also been below 50 for the past few months, indicating a struggle to regain momentum.
Furthermore, the coin’s support level (green) has been steadily declining throughout the year, indicating a terminal decline. All available technical indicators suggest ongoing stagnation.
Despite these challenges, the Terra Luna Classic community is still making efforts to boost LUNC and its related stablecoin, USTC. However, these efforts have had little success so far this year.
Recently, a governance proposal was submitted to Binance, suggesting the burning of 50% of its USTC supply to re-peg the stablecoin to the US dollar.
However, the proposal is currently not passing, and even if it does, Binance is not obligated to act upon its recommendations. This likely means another failed attempt to revive USTC, LUNC, and the wider Terra Luna Classic ecosystem.
As an analyst, it is challenging to predict anything other than continued declines for LUNC, with a potential fall to $0.000040 in the coming weeks.
Higher Growth Altcoins
Considering LUNC’s ongoing downward spiral, traders are advised to diversify their portfolios into other altcoins that have the potential for market-beating gains.
While it is difficult to predict which coins will experience such gains, presales offer a promising opportunity. Launchpad.xyz (LPX) is one such candidate, an all-in-one Web3 trading platform that has already raised over $1.7 million.
Launchpad.xyz is set to launch its platform in the next few months, providing traders of all skill levels access to various tools and resources to keep up with the cryptocurrency market. This includes a play-to-earn gaming hub, AI-based analytics, trading signals, collaborative trading rooms, automated trading bots, fractionalized assets, and presale listings.
Additionally, Launchpad will introduce its own decentralized exchange and NFT marketplace, allowing users to gain early access to hot new tokens and collectibles in the cryptocurrency sector.
LPX will be used to pay for Launchpad’s fees and subscriptions, providing the token with utility and ensuring its growth alongside the platform. It will also offer staking opportunities, providing holders with additional income sources.
Interested investors can purchase LPX early on the official Launchpad.xyz website, with 1 LPX currently selling at a discounted price of $0.0445. The price is expected to increase once the presale ends and the token lists on exchanges in the coming weeks.
Visit Launchpad.xyz Now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
