{"id":28828,"date":"2023-06-28T18:51:47","date_gmt":"2023-06-28T22:51:47","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/terra-luna-classic-price-prediction-as-bears-send-lunc-toward-0-00008-support-what-happens-next\/"},"modified":"2023-06-28T18:51:48","modified_gmt":"2023-06-28T22:51:48","slug":"terra-luna-classic-price-prediction-as-bears-send-lunc-toward-0-00008-support-what-happens-next","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=28828","title":{"rendered":"Terra Luna Classic Price Prediction as Bears Send LUNC Toward $0.00008 Support \u2013 What Happens Next?"},"content":{"rendered":"
\n

Terra Luna Classic (LUNC) is under pressure in line with the downward movement observed in the broader cryptocurrency space on Wednesday.<\/p>\n

LUNC was recently trading approximately 5% lower, below the $0.00009 level, and back below its 21 and 50-Day Moving Averages.<\/p>\n

While the overall sell pressure in the crypto market can be attributed to profit-taking due to concerns regarding the hawkish message from Fed Chair Jerome Powell on Wednesday, technical selling is also contributing to the decline in LUNC.<\/p>\n

On Wednesday, the LUNC broke below a short-term pennant formation that had been established over the past few weeks.<\/p>\n

Short-term price predictions are thus pessimistic.<\/p>\n

Price Prediction \u2013 What Happens Next for Terra Luna Classic (LUNC)?<\/strong><\/h2>\n

While Wednesday’s drop may be seen as a temporary setback for the LUNC bulls, the situation has not yet reached catastrophic levels.<\/p>\n

This is because the upward trend starting from the May lows is still intact.<\/p>\n

If this trend were to break, bears would likely push LUNC towards the $0.00008 support level, resulting in a potential 10% decline from current levels.<\/p>\n

Unfortunately for the bulls, a retest of the $0.00008 support is more likely at this time than a retest of the recent highs above $0.0001.<\/p>\n

This is mainly due to the elevated medium-term sell pressure, as LUNC failed to break above the resistance in the $0.000115 area earlier this month.<\/p>\n

LUNC bulls can only hope for an improvement in optimism regarding the fundamental situation of the blockchain ecosystem.<\/p>\n

In this regard, developers working on maintaining the Terra Luna Classic blockchain ecosystem have recently proposed a plan to restore the failed Terra USD (UST) stablecoin to its 1:1 peg with the US dollar.<\/p>\n

If UST can be brought back to $1 and sustainably maintained at that level, it could attract significant inflows back to the Terra Luna Classic Decentralized Finance (DeFi) ecosystem.<\/p>\n

However, given that many DeFi investors were adversely affected by the previous depegging of UST in May 2022, the Terra Luna Classic developers face a challenging task in winning back the community’s trust.<\/p>\n

Terra 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

See the 15 Cryptocurrencies<\/strong><\/p>\n

Disclaimer: This 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":"

Terra Luna Classic (LUNC) is under pressure in line with the downward movement observed in the broader cryptocurrency space on Wednesday. LUNC was recently trading approximately 5% lower, below the $0.00009 level, and back below its 21 and 50-Day Moving Averages. While the overall sell pressure in the crypto market can be attributed to profit-taking […]<\/p>\n","protected":false},"author":1,"featured_media":28829,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-28828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nTerra Luna Classic Price Prediction as Bears Send LUNC Toward $0.00008 Support \u2013 What Happens Next? | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Terra Luna Classic (LUNC) is under pressure in line with the downward movement observed in the broader cryptocurrency space on Wednesday.LUNC was recently\" \/>\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=28828\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Terra Luna Classic Price Prediction as Bears Send LUNC Toward $0.00008 Support \u2013 What Happens Next? 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