The bearish outlook in Terra Luna Classic price could pave the way to more losses, possibly to $0.0000402, where the token may finally bottom. On the other hand, correction from this week’s high may be a temporary move if LUNC holds above the falling trendline support at $0.000138 and $0.000117.
What Are the Odds of Terra Luna Classic Price Hitting New All-Time Highs?
Terra Luna Classic price exchanges hands at $0.000146 after losing 7.45% in 24 hours. After a 38% dip, LUNC attracts a trading volume of $149 million. The 40th largest cryptocurrency boasts $874 million in market cap, down 4.5% over the same period.
LUNC price is trending downward on the four-hour timeframe chart, below all the major moving averages: The 50-day Exponential Moving Average (EMA) (in red) at $0.0001521 and in confluence with the 100-day EMA (in blue).
The 200-day EMA (in purple) holds significantly higher at $0.000235. Terra Luna Classic price would change the course of the trend north if it lifts and holds above the 200-day EMA. Recovery appears stifled amid a seemingly pessimistic outlook for LUNC. Declines may stretch to $0.00012 in the short term.
The Moving Average Convergence Divergence (MACD) indicator supports this negative outlook. Traders who shorted LUNC when the MACD (blue line) fell below the signal line (red line) near $0.000167 quickly saw profits. The price of Terra Luna Classic could continue to pull back if the MACD dips below the zero line (0.00) into negative territory.
Terra Classic upholds the bearish trend on the daily time frame with all the major moving averages listed above, sloping down and holding above the price. These areas could act as resistances the next time LUNC interacts with them.
The MACD currently moves horizontally at the mean line, implying a sideways price action may take precedence before Terra Luna Classic confirms the next direction it may take.
Overall, the short-term outlook for Terra Luna Classic price is bearish and likely to spill into 2023. All eyes are glued to the immediate support at the upper falling trend line around $0.000138.
Can Terra Luna Classic Price Hit a New All-time High in 2023?
The Terra Classic community is banking on the token burn program by Binance to reduce token supply and bolster the price into recovery. According to the report discussed on Wednesday, the exchange has changed the LUNC burn program, whereby it’s now burning 50% of the spot and margin trading fees as opposed to the previous 100%.
The largest exchange by daily traded volume pledged support for Terra Classic as it rebuilds in the wake of LUNA’s crash in May. Binance said that the Industry Recovery Initiative (IRI) fund is open to developers wishing to build the LUNC ecosystem.
Reducing Terra Classic circulating supply from nearly 6 trillion tokens is at the core of its potential rally to a new all-time high. A move to $1 would demand a supply reduction to 1 trillion, which might be impossible based on the current burn rate.
The community and developers must find new ways to destroy the massive supply to keep the uptrend intact. Otherwise, it might be a pipe dream for LUNC to rally to $1, let alone an all-time high of $119 on April 2022.
Terra Luna Classic Alternative to Consider as 2023 Beckons
2022 is ending, dragging investors through thick and thin – Sam Bankman-Fried’s FTX being the last blow. Investors considering changing the contents of their crypto holdings going into the New Year could do so with new incoming projects that will likely offer quicker returns. Tokens listed here perform exceptionally well in their presales, with some bagging exchange listings as soon as January.
FightOut (FGHG)
A new and promising Move-to-Earn (M2M) platform is allowing users to earn from carrying out positive actions. Unlike many other fitness lifestyle projects like Sweat Coin and STEPN, FightOut is gamifying the process of working out through two proven methods: Motivate people to start their fitness journeys and to stay committed to the new routines.
The team is looking forward to launching an M2E fitness app to track progress and distribute benefits – to level the ground for everyone. Following its official launch in 2023, FightOut will purchase a chain of physical gyms worldwide where users can grow within a community of like-minded people. Rewards will be given for all completed workouts and challenges.
FightOut’s FGHT tokens are selling for 60.06 per 1 USDT. Interested investors are encouraged to move fast before the first stage runs out, having raised $2.44 million so far.
Dash 2 Trade (D2T)
Dash 2 Trade may appeal to investors wishing to access crypto trading signals and analytics. The platform provides access to social analytics and insights, allowing traders to catch trending coins at all times.
A bespoke scoring system will deliver high-quality presales on a dashboard for investors to consider buying without worrying about losing money. Trading bots will also be released for investors with busy schedules. With the bots, it will be easy to take advantage of profitable trading opportunities.
D2T is the token powering Dash 2 Trade’s ecosystem. Its presale is almost at the finish line, having raised $11.31 million. Investors are buying 1 D2T token for $0.0533 ahead of the first CEX listing on January 11.
C Charge (CCHG)
For a long time, the carbon credit industry has been preserved for big corporations. However, C+Charge believes that every electric vehicle (EV) owner should also benefit. The crypto platform is launching with a mobile application and charge stations.
C+Charge is building a peer-to-peer (P2P) payment system to support electric vehicle charging stations using blockchain technology. Users on the platform can pay for charging services at stations globally with CCHG tokens stored in an electronic wallet.
C+Charge presale launched recently with $37k raised in the first stage. Investors can buy 1 CCHG for 0.013 USDT, but the price will shoot to $0.0165 USDT in the next round.
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Fight Out - Next Big Train-to-Earn Crypto
- Backed by LBank Labs, Transak
- Earn Rewards for Working Out
- Level Up and Compete in the Metaverse
- Presale Live Now - $5M Raised
- Real-World Community, Gym Chain