{"id":16315,"date":"2023-05-31T14:21:49","date_gmt":"2023-05-31T18:21:49","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/terra-luna-classic-price-prediction-as-lunc-bears-eye-retest-of-ytd-lows-heres-where-lunc-is-heading-now\/"},"modified":"2023-05-31T14:21:50","modified_gmt":"2023-05-31T18:21:50","slug":"terra-luna-classic-price-prediction-as-lunc-bears-eye-retest-of-ytd-lows-heres-where-lunc-is-heading-now","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=16315","title":{"rendered":"Terra Luna Classic Price Prediction as LUNC Bears Eye Retest of YTD Lows \u2013 Here’s Where LUNC is Heading Now"},"content":{"rendered":"
\n

Things aren\u2019t looking good for Terra Luna Classic (LUNC).<\/p>\n

The cryptocurrency, which powers the original Terra blockchain that experienced catastrophe after its associated algorithmic \u201cstablecoin\u201d UST lost its 1:1 per to the US dollar last May, was last trading around 3% lower on Wednesday in the $0.000084 area.<\/p>\n

UST lost its 1:1 peg to the US dollar last year when the market cap of LUNC (formerly LUNA), which acted as collateral for UST, fell below the supply of UST, triggering a bank run that caused a so-called \u201cdeath spiral\u201d in LUNC.<\/p>\n

LUNC holders lost everything as the supply was hyper-inflated by the UST to LUNA mint-burn mechanism, and the Terra ecosystem saw an exodus of nearly all its capital, users and developers.<\/p>\n

Price Prediction \u2013 Terra Luna Classic (LUNC) to Test Yearly Lows?<\/strong><\/h2>\n

LUNC\u2019s drop on Wednesday suggests that a test of year-to-date lows in the $0.00008 area is likely.<\/p>\n

That\u2019s because the technicals are looking very bad.<\/p>\n

LUNC found strong resistance at its 21DMA yet again a few days ago, suggesting the near-term bearish bias remains very much intact.<\/p>\n

Meanwhile, LUNC is on the verge of breaking to the south of a pennant structure, which could trigger fresh technical selling.<\/p>\n

The $0.00008 level is a key long-term resistance zone, with a break below it likely to open the door to a run lower towards last June\u2019s lows in the $0.000035 area.<\/p>\n

That could mean LUNC has a further 60% price decline in store.<\/p>\n

This isn\u2019t surprising.<\/p>\n

The token represents a long-dead and gone cryptocurrency network \u2013 the disaster of May 2022 dealt a fatal blow to the Terra project and its credibility.<\/p>\n

Luna Classic (LUNC) Alternatives to Consider<\/strong><\/h2>\n

Investors should always be on the lookout to diversify their crypto holdings.<\/p>\n

One high-risk-high-reward investment strategy that some investors might want to consider is getting involved in crypto presales.<\/p>\n

This is where investors buy the tokens of up-start crypto projects to help fund their development.<\/p>\n

These tokens are nearly always sold very cheap and there is a long history of presales delivering huge exponential gains to early investors.<\/p>\n

Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application\/platform.<\/p>\n

If an investor can identify such projects, the risk\/reward of their presale investment is very good.<\/p>\n

The team at Cryptonews spends a lot of time combing through presale projects to help investors out.<\/p>\n

Here is a list of 15 of what the project deems as the best crypto presales of 2023.<\/p>\n

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.<\/sup><\/i><\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Things aren\u2019t looking good for Terra Luna Classic (LUNC). The cryptocurrency, which powers the original Terra blockchain that experienced catastrophe after its associated algorithmic \u201cstablecoin\u201d UST lost its 1:1 per to the US dollar last May, was last trading around 3% lower on Wednesday in the $0.000084 area. UST lost its 1:1 peg to the […]<\/p>\n","protected":false},"author":1,"featured_media":16316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-16315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nTerra Luna Classic Price Prediction as LUNC Bears Eye Retest of YTD Lows \u2013 Here's Where LUNC is Heading Now | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Things aren\u2019t looking good for Terra Luna Classic (LUNC).The cryptocurrency, which powers the original Terra blockchain that experienced catastrophe after\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=16315\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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