With several brilliant proposals being endorsed in the Terra Classic community lately, the trading volume of LUNC recorded a significant spike when compared to the previous month.
At the time of writing, LUNC is trading for $0.000185 per coin, having appreciated by 2.66% in the last 24 hours. This current value of LUNC goes further to show a price increase of over 9.5% and 20% in the last 7 days and 30 days respectively. But it indicates a spike of over 6% in the last 60 days.
Given the large volumes of Terra Classic (LUNC) being traded daily on the secondary market this month, analysts have laid out the anticipated price action for the crypto asset in the coming days and weeks.
LUNC Price Prediction
Data shows that LUNC’s 24-hour trading volume is sitting above $130 million, at the time of writing. Based on this high volume, analysts believe there is ample liquidity to push the asset’s price higher in the near term. Precisely, LUNC is projected to hit $0.0002 per coin.
But chart indicators, including the moving average and relative strength index (RSI), signify that LUNC has the tendency to plummet briefly before the upswing continues.
According to the Terra Classic chart below, LUNC’s RSI (purple) moved from a weekend value of 30 to around 50 today. This shows that LUNC buyers are greater than sellers, further indicating more uptrend for the asset.
On the other hand, LUNC’s 30-day moving average (red) is inclining towards its 200-day moving average (blue). Analysts forecast that the 30-day MA would touch or fall below the 200-day MA. If this happens, it’s likely to see LUNC embark on a fresh rally.
The key level to watch on the LUNC chart is the $0.00018 support line. If this support is broken then investors can see a decline in the price of the asset. Meanwhile, $0.00019 is LUNC’s resistance level at the time of writing. If LUNC overcomes this key resistance then $0.002 would be the next target for the Terra Classic native token.
Other factors that affirm the bullish case for LUNC include the recent passing of the USTC re-peg signal proposal. The execution of the action plans contained in the proposal would greatly streamline LUNC burning and in turn, boost the asset’s value.