A machine learning algorithm that utilizes several technical indicators for prediction has forecasted the price of LUNC for March 1, 2023.
LUNC, the native token of the Terra Classic blockchain project, continues to struggle in the crypto market ever since its dramatic collapse in May. At press time, the asset is trading for $0.0001622 per token with no signs of staging a significant rally.
On a broader view, the sentiment around the LUNC token remains bearish as the token lacks notable adoption from the wider crypto community coupled with the recent lawsuit filed against Terra founder Do Kwon by the United States Securities and Exchange (SEC).
While Terra Classic community members and other traders are left to wonder what the price action of LUNC would be in the next couple of days, the world’s leading crypto price predicting and market forecasting platform, PricePrediction believes LUNC would stage a minor dip at the start of next month.
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According to the machine learning algorithm on the platform, LUNC is expected to hit the $0.000156 mark on March 1, 2023. The algorithm arrived at this prediction using the relative strength index (RSI), moving average convergence divergence (MACD), moving average (MA), average true range (ATR), Bollinger bands (BB), and other tools.
This 30-day Terra Classic price projection denotes a 3.8% decrease from the LUNC’s value at the time of writing. More so, the asset is showing a decline of about 7% in the past 7 hours and a decline of about 9% in the last 30 days.
The machine learning algorithm further reveals a bearish trend in the long-term price of LUNC. In the next 7 days, the price of Terra Classic is expected to decrease by $0.00000377, reaching $0.00016 by March 2, 2023.
Read Also: LUNC Up by 53% From December Low as Terra Classic Begins To Bloom Again
But in the short term, LUNC is currently sustaining a bullish trend so investors should expect a slight increase over the next few hours. This positive trend for LUNC is likely fueled by the upcoming play-to-earn (P2E) game coming to the Terra Classic blockchain by Q2 of 2023.
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