The Terra Luna Classic price has dipped by 0.5% in the past 24 hours, with its move to $0.00008900 coming as the cryptocurrency market as a whole rises by the same percentage.
LUNC is now down by 5% in the past week and by 1% in the last 30 days, while the altcoin has also dropped by 38% since the beginning of the year, as the market has suffered regulatory headwinds and investors have grown tired of waiting for the Terra Luna Classic community to make progress in re-pegging USTC.
However, the past few weeks have brought progress in this regard, and up until the SEC sued Coinbase and Binance at the beginning of the month, LUNC had actually made some important gains.
As such, the next few weeks may bring further rallies for the altcoin, with its development community putting recently accepted governance proposals into practice, proposals which could boost its price.
Terra Luna Classic Price Prediction as LUNC Keeps Rising Steadily – Are Whales Accumulating?
LUNC’s chart isn’t in a position of strength at the moment, with its indicators suggesting that it may slip a little further before staging a recovery.
For one, its relative strength index (purple) has slid down from 50 this morning, meaning that LUNC’s price could slip further on the indicator’s way down to 30 or lower.
Likewise, the altcoin’s 30-day moving average (yellow) is sinking slowly towards its 200-day (blue), another signal that losses are likelier than gains in the shorter term.
That said, LUNC’s support level (green) is slowly inching upwards, so it’s likely that any further falls may not be particularly substantial.
With this in mind, it’s interesting to note that some LUNC observers are suggesting that whales have been unstaking their holdings of the coin in order to sell when it next pumps, with the claim being that it will rally soon as a result of the recently implemented Parity upgrade.
Successfully rolled out last week, the Parity upgrade will enable the Terra Luna Classic blockchain to achieve greater interoperability with other networks, such as Cosmos.
In theory, this should make developing apps for Terra Luna Classic easier and more attractive, in that apps developed for the network will also be deployable on other blockchains, expanding the potential user base.
LUNC did actually rally in the days leading up to Parity, going from around $0.00008498 on June 12 to $0.0001 on June 14.
However, the current instability of the market – caused largely by the SEC’s recent legal actions – has made these gains shortlived.
But with the Terra Luna Classic community recently agreeing on a plan to launch a testnet that will trial different routes towards re-pegging USTC to $1, LUNC could end up rallying big by the end of the year.
New Altcoins, New Rallies
Without a concrete plan to actually repeg USTC and boost LUNC’s price, it’s hard to image the latter will ever stage a big comeback, particularly when it’s already more than 8,500% up from its all-time low (recorded after the infamous Terra collapse of May 2022).
For this reason, traders may consider diversifying into newer altcoins, which haven’t yet had the time to enjoy their first big rallies.
This is particularly the case with presale tokens, with the best of these likely to witness big rallies when they ultimately list on exchanges.
One of the most promising of these is ecoterra, a recycle-to-earn platform that has sold more than $5.2 million of its native ECOTERRA token since its presale began last month.
Built on the Ethereum blockchain, ecoterra’s platform aims to provide a decentralized and crypto-based ecosystem for encouraging more sustainable living.
To this end, the platform will reward users in ECOTERRA for recycling their household waste at participating recycling points, while it will also offer NFT-based carbon offsets to users who generate their green energy.
Interestingly, these credits will be tradeable on the platform’s own NFT marketplace, providing users with further impetus for going green.
Such ambitious features indicate that ecoterra could become one of the most successful presales of the year, a sentiment shared by the investors who have already plowed into its presale.
Investors can join its presale by visiting the official ecoterra website and connecting their software wallets, with 1 ECOTERRA currently costing $0.00925.
This price will rise to $0.01 in just over eight days, although it could easily rise much higher in the coming months, when it has its full launch.
Visit ecoterra Here
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
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