The price of Terra Luna Classic has had a 5% increase during the last 24 hours, hitting a value of $0.00008179. This recent surge also represents a significant rise of 56% since its lowest point in mid-October of 2023.
The cryptocurrency LUNC has had a notable increase of 22% within a week and 40% over the course of the previous 30 days, coinciding with a growing bullish market attitude.
However, the Lunar University Network Coin (LUNC) has also had advantages as a result of the implementation of several beneficial Terra Luna Classic governance proposals. This includes the recent approval of a proposal to cease the creation of additional USTC tokens.
It is probable that this development will have a positive impact on the long-term price of LUNC. Additionally, it instills optimism regarding the potential for the LUNC community to collaborate on other advantageous suggestions in the foreseeable future.
The price prediction for Terra Luna Classic, denoted as LUNC, is being discussed in light of its recent 56% increase. This surge has prompted speculation about the potential commencement of a rally towards the $1 mark.
The LUNC has had a 5% increase within a single day, hence it is unsurprising that its chart and indicators exhibit a notable level of strength.
The relative strength index (RSI), specifically in the color purple, is exhibiting an upward trend, approaching the 70 mark once more. There is still room for further increase until the cryptocurrency reaches a state of being overbought.
The pricing chart for Terra Luna Classic.
The source of the information is TradingView.
In a more positive light, the 30-day average (represented by the color yellow) of LUNC demonstrates a consistent upward trend towards its 200-day average (shown by the color blue). It is worth noting that there is still a significant amount of time until it surpasses the aforementioned average and reaches its highest point.
An other positive development pertains to the support level (green) of LUNC, which has experienced an increase in recent weeks. This upward trend has endowed the cryptocurrency with elevated foundational levels, so facilitating the initiation of fresh rallies.
However, the 24-hour trading volume of this coin is quite low compared to other prominent tokens, currently standing at $40 million.
The current value of the token, while showing improvement compared to its October readings, remains very minor in comparison to larger tokens like as BTC, ETH, and SOL. However, there was a notable increase on November 10, with the value spiking to over $300 million.
The significance of the aforementioned occurrence lies in the fact that it was the moment when the Terra Luna Classic community collectively approved a resolution to cease the production and re-production of USTC.
This proposal aims to mitigate the establishment of more USTC, a measure that has the potential to bolster the value of both USTC and LUNC.
Furthermore, the aforementioned sentence serves as a valuable illustration of the LUNC community's successful consensus-building efforts, a task that has proven challenging during the current year.
Moreover, this has the ability to facilitate consensus throughout the community about other propositions.
Therefore, it is anticipated that the price of Terra Luna Classic will have a continuous upward trend in accordance with market conditions. It is plausible that the price may hit $0.00010 during the upcoming weeks and perhaps escalate to $0.00020 during the initial weeks of 2024.
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