Terra Luna Classic Price Prediction – How High Can LUNC Reach in 2023?
Terra Luna Classic price is battling for support mid-through the week's trading. Bulls suffered another setback last week after LUNC snapped out of consolidation between $0.0001468 and $0.0002.
LUNC currently exchanges hands at $0.0001308 after losing 2.3% of its value on the day. Terra Luna Classic's performance has been dismal this year, considering it is trading at roughly 100% below its all-time high of $119.
Price data from CoinMarketCap shows that LUNC sits in the 45th spot in the market, with $782 million in market capitalization. Over the last 24 hours, its trading volume dropped by more than 30% to $58 million.
Terra Luna Classic price has sustained a downtrend below a couple of trend lines, as illustrated on the daily timeframe chart below. Attempts to break this southbound move have only passed the lower trend line (dotted). LUNC needs to make a clear breakout above the upper trend line (continuous line) to validate an uptrend as well as the return of the bulls.
An immediate recovery is highly unlikely based on the position of the Stochastic oscillator in the oversold area. If LUNC does not hold support at $0.0001251, it may be forced to seek refuge at a lower price level, where fresh liquidity can be collected.
The next pit stop after the buyer congestion at $0.0001251 might be $0.00008. However, if push comes to shove, investors might expect Terra Luna Classic price to bottom out between $0.000035 and $0.000085.
The short-term outlook in LUNC appears bearish, but like other cryptocurrencies, it is expected to make a solid recovery in 2023. Ardent crypto investors are holding onto a loose thread that may see LUNC rally back to its all-time high.
Terra Luna Classic price may need to make a 750,000% move to achieve
Read more on cryptonews.com
