Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) ecosystem, has recently seen a significant increase in value, reaching over 30% at one point. The surge appeared as a ray of hope amid weeks of pessimistic market sentiment.
The surge in value can be attributed to the concerted efforts of the LUNC community, which has actively undertaken various efforts aimed at improving the usefulness and functionality of the network. These efforts have caught the attention of investors, who are now speculating feverishly about the potential trading outcomes triggered by this recent momentum.
Investors will then be on the lookout for where that price can close in the recent momentum that Finbold has made use of machine learning algorithms developed by its analytics and forecasting platform. price prediction This sets the price of LUNC to $0.000101 on June 30, 2023.
If these predictions come true, it would represent a notable 3.6% increase from Terra Classic’s current price level.
The latest LUNC forecast is based on several widely used technical indicators such as Moving Average Convergence Divergence (MACD), Average True Range (ATR) and Bollinger Bands (BB).
Terra Classic price analysis
At the latest update, LUNC is currently trading at $0.00009744, showing an impressive 8.15% gain over the past 24 hours, and a staggering 11.20% gain last week. These gains occurred at a time when the overall market was experiencing major declines and LUNC was encountering resistance at the $0.00011 mark.
Notably, among the top 100 cryptocurrencies by market cap, LUNC has seen the biggest gains, outperforming other prominent assets such as The Sandbox (SAND) and Decentraland (MANA). Additionally, in the crypto space, Terra Classic is currently the second trending asset of the day.
As the Terra Classic community strives to regain its standing and prominence in the cryptocurrency market, Finbold sought financial experts’ opinions on the asset’s price outlook.
Analysts have mixed opinions about the future of LUNC, with one expert suggesting that abandoning blockchain by capitalists and developers is “more or less a death sentence.” However, some have emphasized the importance of LUNC as a memecoin and its support from major exchanges such as Binance and KuCoin.
Initiatives at LUNC
The recent resurgence of LUNC value is v2.1.0 upgrade proposal, has received a great deal of attention. Scheduled for June 14th, this release will be his third major upgrade to the Terra Classic blockchain.
The main purpose of the upgrade is to make Terra Classic work with other blockchains such as Terra 2.0 and various Cosmos chains. This collaboration is expected to provide new opportunities for projects and developers to effectively use the Terra Classic chain.
Disclaimer: The content of this site should not be considered investment advice. Investments are speculative. When you invest, your capital is at risk.