Can Terra Luna Classic Price Prediction Reach $3 in 2023?

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LUNC, a roughly $1 billion token on the Terra Classic protocol, is closing in on a 17.54% move that could propel it to $0.00021. Meanwhile, the value of the 50th largest cryptocurrency has increased by 6.5% in 24 hours and is trading at $0.0001775 at the time of writing.

Investors are preparing for the expected outcome by taking new positions in LUNC, according to data from CoinMarketCap, showing a 48% increase in 24-hour trading volume to $100 million.

LUNC/USD Price Chart

A persistent spike in trading volume reveals that investors are enthusiastic about the asset, or that the token is aggressively bullish. The high volumes imply that the demand for LUNC is increasing and could validate a sustainable uptrend.

Terra Luna Classic price on the cusp of a 17.54% move

Terra Luna Classic Price dances atop a symmetrical triangle while preparing to fly above its immediate resistance, as seen at $0.00018 confluent with the 200-day exponential moving average (EMA) (in purple) .

Market participants trading the symmetrical triangle for the first time may need to understand that this pattern forms when price moves within an increasingly tight range, resulting in a fierce battle between bulls and bears.

From the four-hour chart below, we see Terra Luna Classic price consolidating within two trend lines: one connecting the high lows and the other connecting its the highest the lowest.

Terra Luna Classic price is now poised to crash as the bulls win the battle and push above triangle resistance, bolstered by the 200-day EMA. Traders can place orders slightly above the slope of the lower highs trendline. Following the expected breakout, investors would be eager to cash in at $0.00021.

LUNC/USD daily chart

The information provided by the Moving Average Convergence Divergence (MACD) indicator may support the bullish narrative for LUNC price. Notice a buy signal held since early January as the blue MACD line crossed above the red signal line.

It is important to note that the momentum indicator can be seen making its way into the positive region above the middle line (0.00). Additionally, the bullish histograms seen in the chart above can validate a bullish result. Some analysts believe that the price of Terra Luna Classic is about to trigger a major move higher, with a short-term target of $0.0001758.

The Terra Luna Classic community has also been very aggressive in defending a bullish LUNC. For example, TargetNodes on Twitter thanked fellow users for “holding the hotline down and pushing it back.” The trader added that the most important task now is to “push it to the horizontal resistance line which is $0.00019”.

Will BinanceUS add LUNC support?

The Terra Luna Classic community recently lobbied for a listing on BinanceUS, the subsidiary of Binance.com, the largest cryptocurrency exchange by daily trading volume. Such a listing would expose LUNC to a wider audience in the United States and could be a catalyst for higher prices for Terra Luna Classic.

As the price of Terra Luna Classic recovers, it is sure to attract the attention of investors who are considering what tokens are considered cheap to buy. For now, a move above $0.00018 is needed to keep user interest intact. However, a break above $0.0002 and subsequently the triangle target at $0.00021 could push LUNC price up to “eat” another zero and begin another phase of recovery above $0.001.

Whether the LUNC price reaches $3 in 2023 depends on the general behavior of the crypto market throughout the year. The Terra Luna Classic token burning program will contribute immensely to its ability to sustain a long-term price rally.

At the same time, being listed on BinanceUS would give the LUNC price a big boost – think of it as the fast player’s advantage. Nonetheless, as analyzed, investors can take advantage of short-term rally periods like the forecasted move to $0.00021 to make gains along the way.

Should you buy Terra Luna Classic?

Before investing in Terra Luna Classic, you may want to consider other high-potential crypto projects alongside LUNA.

We’ve reviewed the top 15 cryptocurrencies for 2023, as analyzed by the CryptoNews Industry Talk team.

The list is updated weekly with new altcoins and ICO projects.

Disclaimer: The Industry Talk section features information from crypto industry players and is not part of the editorial content of Cryptonews.com.

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