Terra Classic (LUNC) Price Prediction 2023 — Will LUNC Hit $0.0005 Soon?

• Bullish LUNC price prediction for 2023 is $0.00012840 to $0.00020724.
• Terra Classic (LUNC) price might reach $0.0005 soon.
• Bearish LUNC price prediction for 2023 is $0.00005085.

In this Terra Classic (LUNC) price prediction 2023, we will analyze the price patterns of LUNC by using accurate trader-friendly technical analysis indicators and also predict the future movement of the cryptocurrency.

Terra Classic (LUNC) Current Market Status

What is Terra Classic (LUNC)?

Terra Classic (LUNC) is one of the cryptocurrencies that can never be forgotten by the crypto community. The wild crash of this token is a major catastrophic story of the 2022 bear market. 

Terra Classic (LUNC) was launched by Do Kwon’s Terraform Labs in 2019. The old version of the blockchain, Terra Classic, was launched as a proof-of-stake (PoS) blockchain built on Cosmos SDK and Tendermint. LUNC existed as a collateral token that backed a family of decentralized stablecoins of the Terra ecosystem. Terra ClassicUSD (USTC) is Terra’s algorithmic stablecoin that was backed by LUNC.

Later, in order to regain their spot in the market, Do Kwon and the Terra team came up with the creation of a new blockchain devoid of the algo-stablecoin and launched the new coin called Terra (LUNA).

Terra Classic (LUNC) Price Prediction 2023

Terra Classic (LUNC) ranks 78th on CoinMarketCap in terms of its market capitalization. The overview of the Terra Classic Price prediction for 2023 is explained below with a daily time frame.

LUNC/USDT Descending Channel Pattern (Source: TradingView)

In the above chart, Terra Classic (LUNC) laid out a descending channel pattern. Descending channel is also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is characteristic of a bearish market.

At the time of analysis, the price of Terra Classic (LUNC) was recorded at $0.00008983. If the pattern trend continues, then the price of LUNC might reach the resistance levels of $0.00012820, and $0.00017073. If the trend reverses, then the price of LUNC may fall to the support of $0.00009453, & $0.000080058.

Terra Classic (LUNC) Resistance and Support Levels

The chart given below elucidates the possible resistance and support levels of Terra Classic (LUNC) in 2023.

LUNC/USDT Resistance and Support Levels (Source: TradingView)

From the above chart, we can analyze and identify the following as the resistance and support levels of Terra Classic (LUNC) for 2023.

As per the above analysis, if Terra Classic’s (LUNC) bulls take the lead, then it might hit and break through its resistance level of $20724.

Conversely, if Terra Classic’s (LUNC) bears dominate the trend, the price of LUNC might plunge to  $0.00005085.

Terra Classic (LUNC) Price Prediction 2023 — RVOL, MA, and RSI

The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Terra Classic (LUNC) are shown in the chart below.

LUNC/USDT RVOL, MA, RSI (Source: TradingView)

The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes. It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. Also, it helps traders in identifying unusual trading activity and changes in market sentiment. 

At the time of analysis, the RVOL of Terra Classic (LUNC) was found below the cutoff line. Thus, it denotes a weak volume of participants trading in the current trend.

The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days. When the price of an asset is above 50MA, it is considered to be in an uptrend (bullish), and if laid below 50MA, it is in a downtrend (bearish).

Notably, in the above chart, the LUNC price lies below 50 MA (short-term), indicating its downtrend. Hence, LUNC is in a bearish state. Although this is the current state, a trend reversal might occur.

Next up is the Relative Strength Index (RSI). Significantly, this analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value lies between a range of 0 and 100. Hence, the readings above 70 indicate an overbought state, and below 30 indicate an oversold state. 

Significantly, traders often use the RSI to identify potential trend reversals or to confirm the trend’s direction. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal.

At the time of analysis, the RSI of LUNC is at 36.13. Therefore, this indicates LUNC is nearly in an oversold state, confirming a potential buy signal.

Terra Classic (LUNC) Price Prediction 2023 — ADX, RVI

In the below chart, we analyze the strength and volatility of Terra Classic (LUNC) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI).

LUNC/USDT ADX, RVI (Source: TradingView)

To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100.

According to the data on the above chart, the ADX of LUNC lies in the range of 51.98563027 pointing out a strong trend. 

The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of LUNC lies below 50, indicating low volatility. 

Comparison of LUNC with BTC, ETH

Let us now compare the price movements of Terra Classic (LUNC) with that of Bitcoin (BTC), and Ethereum (ETH).

BTC Vs ETH Vs LUNC Price Comparison (Source: TradingView)

From the above chart, we can interpret that the price action of LUNC is similar to that of BTC and ETH. That is, when the price of  BTC and ETH increases or decreases, the price of LUNC also increases or decreases respectively.

Terra Classic (LUNC) Price Prediction 2024-2030

With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Terra Classic (LUNC) between 2024 and 2030.

Terra Classic (LUNC) Price Prediction 2024

If bulls dominate the price momentum and trend patterns, then Terra Classic (LUNC) might successfully test and surpass its resistance levels to hit $0.001 by 2024.

Terra Classic (LUNC) Price Prediction 2025

The significant upgrades in the Terra Classic ecosystem might persuade the entry of an increased number of investors. This may eventually boost the Terra Classic (LUNC) price to reach $0.003by 2025.

Terra Classic (LUNC) Price Prediction 2026

If Terra Classic (LUNC) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $0.005. 

Terra Classic (LUNC) Price Prediction 2027

If Terra Classic (LUNC) sustains major resistance levels and stands as a better investment option in the market, then LUNC would rally to hit $0.007 

Terra Classic (LUNC) Price Prediction 2028

If Terra Classic (LUNC) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, then LUNC would hit $0.009 by 2028.

Terra Classic (LUNC) Price Prediction 2029

If investors flock in and continue to place their bets on Terra Classic (LUNC), then the crypto would witness major spikes. Hence, LUNC might hit $0.01 by 2029.

Terra Classic (LUNC) Price Prediction 2030

By 2030, the LUNC price might rally to $0.03 if the trend momentum aligns in favor of Terra Classic. Furthermore, LUNC would hold a positive market sentiment and be labeled as a long-term investment with highly profitable ROI.

Conclusion

If Terra Classic (LUNC) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Terra Classic (LUNC) price prediction for 2023 is $0.00020724. Comparatively, the bearish Terra Classic (LUNC) price prediction for 2023 is $0.00005085.  

If there is a positive elevation in the market momentum and investors’ sentiment, then Terra Classic (LUNC) might hit $0.0005. Furthermore, with future upgrades and advancements in the Terra Classic ecosystem, LUNC might surpass its current all-time high (ATH) of $119.18  and mark its new ATH. 

FAQ

1. What is Terra Classic (LUNC)?

Terra Classic (LUNC) is the native crypto coin of the Terra Classic. Terra Classic is a proof-of-stake (PoS) built on Cosmos SDK and Tendermint. Terraform Labs launched the mainnet in 2019. LUNC was Terra’s collateral token for its assembly of stablecoins.

2. Where can you buy Terra Classic (LUNC)?

Traders can trade Terra Classic (LUNC) on the following cryptocurrency exchanges such as Binance, KuCoin, Bitfinex, Bybit and OKX.

3. Will Terra Classic (LUNC) record a new ATH soon?

With the ongoing developments and upgrades within the Terra Classic platform, Terra Classic (LUNC) has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Terra Classic (LUNC)?

Terra Classic (LUNC) hit its current all-time high (ATH) of $119.18 (On April 05, 2022) .

5. What is the lowest price of Terra Classic (LUNC)?

According to CoinMarketCap, LUNC hit its all-time low (ATL) of $0.00001675 on May 13, 2022.

6. Will Terra Classic (LUNC) hit $0.0005?

If Terra Classic (LUNC) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $0.0005 soon.

7. What will be the Terra Classic (LUNC) price by 2024?

Terra Classic (LUNC) price might reach $0.001 by 2024.

8. What will be the Terra Classic (LUNC) price by 2025?

Terra Classic (LUNC) price might reach $0.003 by 2025.

9. What will be the Terra Classic (LUNC) price by 2026?

Terra Classic (LUNC) price might reach $0.005 by 2026.

10. What will be the Terra Classic (LUNC) price by 2027?

Terra Classic (LUNC) price might reach $0.007 by 2027.

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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.