Lunc Price Prediction for Today, February 7, 2023

In the last 24 hours, the price of Terra Luna Classic has dropped by 3.5%, to $0.00018462. This is in line with losses on the cryptocurrency market as a whole this weekend. With the Terra Luna Classic community suggesting ways to raise the price, its price has gone up 5% in the last week and 18% in the last 30 days.

There is still enough liquidity for LUNC to go up more in the near future, as shown by the fact that its 24-hour trading volume is at a high level of just over $150 million. Of course, it might need to go down a bit more before it can start going up again.

Price of a Lunc today:

The current value of Luna Classic is $0.0001864 USD.

Related: The predicted Lunc price for today, January 26, 2023

Date: January 1, 2019 Price: $0.0001864

Price prediction for Terra Luna Classic

LUNC’s indicators show that the token might need to go down a little bit before it can start to rise again. Its relative strength index (in purple), which just dropped to almost 30, is right on the edge of 50, which means it has entered a selling phase.

The 30-day moving average for LUNC (shown in red) has started to fall towards its 200-day average at the same time (blue). Once this drop reaches or falls below the longer-term average, investors can start to plan for future rises.

At the moment, it looks like $0.00018 may be the most important support level in terms of resistance and support levels. If LUNC falls below this price, the chances of more losses go up, but a drop to this level could also be the start of a rebound.

The current resistance level for LUNC is $0.00019, which suggests that if this level is broken, more gains could be on the way.

When you look at the bigger picture, there are many reasons for LUNC owners to be happy in the long run.

The main goal of the Terra Luna Classic community is to reduce the amount of LUNC and raise its value. Now, the sister stablecoin USTC will be re-pegged to $1, which is likely to raise the price of LUNC in the coming days and weeks.

The accepted idea would likely require a lot of LUNC tokens to be burned, but the details still need to be worked out. The people who wrote the proposal say that one of the main benefits would be “creating a more efficient system for LUNC and USTC that can burn more than the tax rate can.”

As a result, you can expect to see more LUNC burning in the near future. Only about 38.6 billion of the 6.87 trillion LUNC that are in circulation have been burned so far. This shows that there is still a lot of work to do.

In the last few weeks, a change was made to the Terra Luna Classic protocol that added whitelists for its native on-chain tax burn. Some parties can be exempted from the on-chain burn with these whitelists. Binance had asked for this change so that it could resume its own consistent burning of trading fees.

All of this again points to a big increase in the LUNC burn as the year goes on, with many holders waiting for returns to the $0.001 and $0.01 levels (or beyond).

Related: Lunc Price Prediction: Lunc Price Today, January 25, 2023

Disagreements in the Interra Luna Classic community, like the plan to stop paying developer Jacob Gadikian for “attacking and slandering validators on the Luna Classic Blockchain,” could make it hard to reach these goals.

Even though losing one developer might not be the end of the Terra Luna Classic network, it can stop other developers from joining. It also makes it more likely that the community won’t agree on a plan for putting the re-peg proposal into action, which was approved without a clear and firm timeline.

Even so, LUNC is a company to watch in 2019 and has a chance of being a big winner in 2023.

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