With its price struggling, CoinCodex’s AI-powered algorithms foresee brighter days ahead, predicting a significant increase by the end of January.

Read Also: Terra Classic Sees Massive Surge in Transaction Volume, As LUNC Price Signals Revival

Harnessing data analysis and market indicators, these algorithms anticipate a jump in LUNC’s value, pushing it to $ 0.000142 by January 31. However, LUNC is expected to reach its peak price for the next 30 days on January 21, with CoinCodex predicting $ 0.000147.

However, this isn’t the end of the road for LUNC. CoinCodex sets the price range for 2024 between $ 0.000106 and $ 0.000227. Reaching the upper target will represent about an 88% surge from its current price.

A Potential Resurgence?

This optimism echoes crypto analyst Javon Marks’ (@JavonTM1) New Year post. In his analysis, Marks highlighted “continuing bullish signals” on lower timeframes, which he suggested signaled the early stages of a “massive, market-shaking move.”

His optimism was based on the recent breakout for LUNC, which saw the token climb over 1008% from its pre-breakout levels. Based on this momentum, the analyst envisions a potential rally towards $0.001553 and beyond, representing a staggering 10x increase from current prices.

Because the LUNC ecosystem’s recent proposal to burn 8 million USTC did not prompt a major surge, some may scoff at such a bold prediction. However, several factors can contribute to a resurgence.

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Read Also: Can Terra Classic Bulls Continue LUNC Price Rally After Upcoming Major Upgrade? Details

As crypto market analyst Derek (@kimmyboy2) pointed out on January 5, the MACD indicator’s DIF and DEA lines are undergoing compression, possibly indicating an internal recalibration that aligns with current market conditions.

The broader cryptocurrency market is also gradually recovering, providing a favorable backdrop for individual coins like LUNC. Ongoing token-burning initiatives can also help reduce LUNC’s supply, potentially increasing its value.

These combined factors paint a promising picture for LUNC in the coming weeks and months. While short-term price fluctuations are inevitable, the underlying trends suggest a sustained upward trajectory fueled by AI predictions, analyst insights, and persistent community support.

There’s also the upcoming Bitcoin halving event, which could send LUNC to astronomical heights. LUNC is on the brink of a massive move, and investors have to keep their eyes on it.

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In a recent development, Changelly believes Terra (LUNA) would perform outstandingly in the crypto market, giving investors a tremendous return on investment (ROI) this year. Per a Sunday blog post, the widely adopted cryptocurrency exchange forecasted the monthly price performance for LUNA and the expected ROI for every month. 

LUNA Price Prediction: February to Mid-2023

With February 2023 almost ending, expert analysts at  Changelly state that the maximum price LUNA can achieve in the remaining days of the month is $1.90. Despite the persisting bearish trend on LUNA, the platform noted that the asset would not fall beneath the $1.67 level. Notably, data extracted from Coingecko show Terra (LUNA) is down about 7% in the last 7 days. At the time of writing, LUNA is trading for $1.71 per coin.

A slight LUNA price surge is expected in March. According to Changelly, the potential return on investment LUNA can bring in the succeeding month is 15%. It is projected that the value of the asset would stay above $1.82 throughout March 2023 while its predicted maximum price is $1.99 during this month. 

While the potential ROI on LUNA for April 2023 is pegged at 19.7%, Changelly predicted that LUNA investors would see a higher return in May 2023. In particular, it is projected that LUNA’s price may record an increase in value to as high as $2.17 in May, with the assumption that it may not plummet below $1.93 during this month. This goes further to imply a potential 25.4% ROI if one chooses to invest in LUNA in May. 

But in April, TA experts expect the average exchange rate of LUNA to be around $1.96. For this month, it is also said that the asset would have its strong support at the $1.87 level with a tight resistance at $2.07. 

Then by mid-2023, LUNA is predicted to give investors a return on investment that is above 30%. The predicted price range for LUNA in June 2023 is $2.01 and $2.25. 

Terra Classic (LUNC) Price Prediction 

As earlier reported by TimesTabloid, a machine learning algorithm that utilizes several technical indicators including the Relative Strength Index and Moving Average for prediction equally forecasted the price of LUNC for March 1, 2023. 

Unlike the bullish sentiment Changelly has for LUNA, the PricePrediction platform showed a short-term bearish sentiment for Terra Classic. But with the anticipated positive reaction from the largest blockchain ecosystem and exchange,  Binance regarding the Terra Classic burn expedition, LUNC could be set for a notable rally in the coming months.

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“We allege that Terraform and Do Kwon failed to provide the public with full, fair, and truthful disclosure as required for a host of crypto asset securities, most notably for LUNA and Terra USD,” said SEC Chair Gary Gensler. “We also allege that they committed fraud by repeating false and misleading statements to build trust before causing devastating losses for investors, ” he added. 

Notably, LUNC’s price reacted negatively to the news, plummeting significantly in a few hours. At the time of writing, LUNC is trading for $0.0001677 per coin, showing a decline of over 4.5% in the last 24 hours. 

Could LUNC be in Trouble?

The sentiment around the Terra Classic native token, LUNC, suddenly turned bearish even though Do Kwon and TerraForm Labs are no longer involved with the asset. Recall that Do Kwon abandoned LUNC after the project failed in May to launch a new token dubbed LUNA. 

Subsequently, the now community-led Terra Classic project abandoned the TerraForm Labs infrastructure to become truly independent. Over time, several community-formed development groups including the Joint L1 Task Force, Terra Rebels, and TerraCVita emerged to paddle the LUNC boat. 

However, indicators on the LUNC chart such as the Relative Strength Index (RSI) and Moving Average (MA) indicate that LUNC could be in for an intense downtrend. Particularly, LUNC’s RSI — the purple line — number is currently below 40, signaling a high selling pressure. Should the prevailing LUNC sell-off increase, such that the RSI falls below 30 then, LUNC could decline massively in the short term. 

Related: Many Terra Classic Enthusiasts Don’t Believe LUNC Would Reach $1 by 2043, Recent Poll Shows

Correspondingly, LUNC’s 30-day moving average — the red line — is no longer showing signs of heading toward its 200-day average — the blue line on the chart. In retrospect, LUNC could be headed to the $0.00015 level if the key short-term support level of $0.000160 is broken. 

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At the time of writing, LUNC is trading for $0.000157 per coin, having appreciated by only 0.74% in the last 24 hours. This current value of LUNC goes further to show a price increase of over 24% and 7% in the last 30 days and 60 days respectively. But in the last 90 days, it indicates a decline of roughly 30%. 

Following the many controversies and negative developments erupting in the Terra Classic community, including the recent resignation of Jacob Gadikan, a top developer in the project’s advancement team, traders are left to wonder which trajectory LUNC price would follow in the near term. 

A close look at the 24-hour trading volumes of Terra Classic in the past weeks paints a bad picture for LUNC. On-chain data show a notable decline in this parameter, indicating low investor interest in the asset. 

As shown on Coinmarketcap, the 24 hours trading volume of LUNC at the time of writing is  $76 million. But on January 14, LUNC’s trading volume surpassed $380 million, with its price exceeding the $0.00019 level. Thus, in a matter of weeks, the trading volume of LUNC dropped drastically by 80%. 

By implication, investors have lost interest in the asset and accordingly, its value could drop lower in the near term. Particularly, looking at the LUNC/ USDT chart, the asset’s 30-day moving average (red) keeps pushing below its 200-day average (blue).

This suggests that the price of LUNC is likely to not return to consistent growth until the 30-day has bottomed out. However, there is still hope for the project as Binance could resume support for its burning initiative.

Binance’s Impact on LUNC 

Amid the conceivable LUNC downswing, several positive outcomes including the recent passing of Edward Kim’s Proposal 11310 – which recommends an upgrade of the Terra Classic blockchain from v.1.0.4 to v.1.0.5 –  the asset’s price could gain upward momentum. 

As earlier reported by Timestabloid, Classy, a top validator on the Terra Classic network – who burned 100% of his validator commission in a particular month – noted that the passing of Proposal 11310 could cause Binance to resume LUNC burning.

LUNC burning is among the top initiatives in the community as members believe reducing the token’s total supply from the initial 6.9 trillion to 10 billion would help boost the asset’s price. In contrast, a prominent community member stated that more utility and LUNC staking would be the fastest way to boost the asset’s price.

Notably, before the largest crypto exchange Binance reduced its LUNC burn contribution and halted burning events, the exchange voluntarily destroyed roughly 20.1 billion LUNC.

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It’s worth noting that the crypto market as a whole is currently in the green. Bitcoin (BTC), the largest cryptocurrency by market cap, has recently surpassed the $17,000 resistance level. Similarly, Ethereum (ETH) is surging closer to retesting $1,300.

Read Also: 40 Million Terra Classic Burned in 24 Hours as a Single Wallet Accounts for 25.8 Million LUNC Burn

Terra Classic Price Prediction

Terra Classic (LUNC) chart shows that there is a gradual accumulation of momentum in the past few days, with its relative strength index (purple) hovering around 60, which suggests overall buying pressure without too much buying. Similarly, its 30-day moving average (red) is about to climb over its 200-day average (blue), forming a ‘golden cross’ that could be a sign of a breakout.

Of course, with the market remaining in a precarious condition, there’s no guarantee that LUNC will enjoy a sustained rally anytime soon, even if it’s arguably due to such a rally.

Its situation also isn’t helped by a recent proposal to use the IBC Bridge to let holders swap LUNC for LUNA. This bridge is due to open at some point later this month, which is when the Terra community would expect swaps to become possible if the proposal is accepted.

In fact, it seems that most holders probably won’t opt to swap their LUNC for LUNA, if the responses of prominent Terra Luna Classic community members/accounts are anything to go by. Some have gone so far as to suggest that the proposal if fully realized, would effectively ‘kill’ Terra Luna Classic.

More importantly, it needs to be stressed that the proposal remains just that, a proposal. It hasn’t been accepted by a sufficient number of Terra Luna Classic validators to actually be enabled yet, and it doesn’t seem like it will.

Read Also: Here’s Why Terra Classic (LUNC) Price Could See Massive Rally In December

Given such opposition, this is perhaps why the price of LUNC hasn’t been affected too much in either direction, with the coin more or less stable over the past week.

Assuming that the proposal is roundly rejected, it will disappear and the Terra Luna Classic community will be able to re-focus on restoring LUNC’s value. The main way it will be doing this is through LUNC’s ongoing token burns, with roughly 28.8 billion LUNC being burned to date.

That said, there remains some 6.88 trillion LUNC in circulation as of writing, leaving the community with a long way to go if it wants to restore the altcoin’s price. For example, a rise to $1 would imply a percentage increase of over 600,000%.

In early October, Binance helped along the supply reduction effort by introducing its own burn of trading fees, yet no other major exchange has followed its example. As such, LUNC holder should set their price targets a little lower for the time being, with $1 being some distance away.

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