Despite renewed optimism in the crypto market following a recent correction, Terra Classic (LUNC) is inspiring cautious optimism as it aligns with the broader uptrend. Finance experts remain hesitant with their end-of-2024 price predictions for the asset, currently ranked 113th based on market capitalization.
Terra Classic (LUNC) has gained nearly 11% in the past 24 hours, a positive sign amidst a price decline since January 1. Financial analysts are carefully considering LUNC’s recovery potential in light of the negative sentiment brought by the Terra blockchain collapse.
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Several experts, including Elliott Lee (Techopedia), Anton Kharitonov (Traders Union), and the team at WalletInvestor, predict Terra Classic will trade between $0.000112 and $0.00013342 by the end of 2024.
Price Predictions for Terra Classic (LUNC)
Elliott Lee (Techopedia): The British crypto journalist, in an article, offers a potential 2024 price range of $0.000096 to $0.00014, suggesting an average of $0.000118. He bases his outlook on the potential for a general crypto bull run in 2024 and the Terra Classic team’s efforts to revitalize the project. However, the tarnished reputation of the ecosystem could hinder future adoption.
WalletInvestor: WalletInvestor’s analysis sets a December 31, 2024, average price target of $0.000112. Their more optimistic prediction places LUNC at $0.000191, with a minimum potential price of $0.0000312.
Traders Union’s Anton Kharitonov: Kharitonov anticipates a more modest increase, with LUNC potentially reaching $0.00013342 by year’s end. His colleagues predict a slightly broader range, between a minimum of $0.00012008 and a maximum of $0.00014676.
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Current State and Factors at Play
As of March 21, the Terra Classic (LUNC) price stands at $0.000141. This represents a short-term gain of 11.15% in the past day but signifies lingering losses after a 22.54% decrease over the past week. The broader crypto market remains somewhat bearish, and a key factor is the looming March 25 hearing between Terraform Labs and the U.S. SEC on the 2022 Terra collapse.
Important Considerations
The predictions above should be considered with caution. Cryptocurrency markets are inherently volatile, and LUNC’s specific circumstances add a layer of uncertainty. It’s essential to conduct independent research and closely monitor Terra Classic-related news before making investment decisions.
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