• Terra Luna Classic (LUNC) is the cryptocurrency that powers the original Terra blockchain protocol.
• Cryptocurrency markets are currently in a wait-and-see mode ahead of a speech from Fed Chair Jerome Powell.
• Crypto experts have given bullish price predictions for LUNC, with potential rallies to $0.000277 and beyond possible in the future.
What is Terra Luna Classic (LUNC)?
Terra Luna Classic (LUNC) is the cryptocurrency that powers the original Terra blockchain protocol. It collapsed in value in May 2022 after algorithmic stablecoin Terra UST lost its 1:1 peg to the US dollar.
Current Market Situation
Cryptocurrency markets are currently in a wait-and-see mode ahead of a speech from Fed Chair Jerome Powell that could trigger fresh volatility after last week’s more dovish-than-expected Fed policy meeting. LUNC/USD was last changing hands just above $0.00018, practically unchanged on the week, with the cryptocurrency still seemingly in a medium-term uptrend since its mid-December lows.
Price Predictions
Crypto experts have given bullish price predictions for LUNC, with potential rallies to $0.000277 and beyond possible in the future if technical buying can break out of its near-term pennant structure to the upside or if deflation of LUNC supply combined with continual blockchain upgrades and new projects results drops a couple of zeros over time.
Short Term Outlook
In the short term, technicians warn that a bearish break of the current pennant structure could result in a near-term drop toward the 21 and 100-Day Moving Averages in the $0.00017–1750 area.
Is It Too Late To Buy?
Asking whether it’s too late to buy an asset is never right question; The answer is always never – The right question is whether an asset suits your personal financial situation and risk profile.<