Despite receiving significant support for the Terra network upgrade from Binance, Terra Classic (LUNC) could only boast a transient surge, after which it appears to be struggling to remain afloat in the face of the turbulence that has affected the expansion of most crypto projects.
As LUNC’s price continues to plummet, experts appear to be turning to machine-learning algorithms to obtain a comprehensive valuation and market projection for the coin by the end of August 2023.
Read Also: Terra Classic (LUNC) Governance and Decentralization Proposal Successfully Approved
Per an advanced machine learning algorithm employed for crypto price analysis on PricePredictions, a renowned crypto price prediction platform for both long and short-term digital assets price valuation, the Terra Classic (LUNC) price might not be witnessing any significant boost in value anytime soon.
The latest data obtained from the data analytics model as of August 2nd revealed that Luna Classic will not trade above the $0.000076 price level, implying that the token could drop by 4.93% from its current price at press time.
Notably, some factors were crucial in the machine-learning algorithm analysis. These factors include Average True Range (ATR), Relative Strength Index (RSI), and Moving average convergence divergence (MACD), among others.
Read Also: LUNC and USTC to $1? Terra Classic Considers Burning 800 Million USTC Tokens: Details
At press time, LUNC’s evaluation was pegged at $0.00007994, reflecting a spike of 0.1% in the past 24 hours. Throughout last week, LUNC’s maximum and minimum selling costs were $0.00008250 and $0.00007885, respectively, indicating that the token might be experiencing a seemingly strong resistance at the $0.00008530 price mark.
On the other hand, Terra Classic’s strongest support zone got hinged at the $0.00007636 price level. Its bearish sentiment continues to prevail at 87% against that of the bulls at 13%.
Meanwhile, the technical analysis gauges on the finance and crypto market analytics platform TradingView appear bearish, indicating a “sell” at 15 as derived from Moving Averages (MA), a “Strong Sell” at 14, and oscillators in the “neutral” at 8. It is left to see if Terra Classic (LUNC) can succeed in turning the tide around before August ends.
Follow us on Twitter, Facebook, Telegram, and Google News
Robinhood Crypto, the European division of the popular U.S. trading platform, has introduced a suite…
The excitement is palpable as the bull run of 2024 gains momentum. Investors are eager…
As the bull run of 2024 gains momentum, a select group of cryptocurrencies are positioning…
Ethereum, Solana, and Avalanche have had their run. These established players have dominated the crypto…
The Shiba Inu lead developer, Shytoshi Kusama, recently took to X to express his satisfaction…
In the ever-evolving world of cryptocurrencies, Near Protocol and Polkadot have exhibited remarkable metrics and…