It seems that the Terra Luna Classic price is currently facing challenges and is trying to find support during the midweek trading. The market saw a setback last week when LUNC broke out of the consolidation range between $0.0001468 and $0.0002.
LUNC is currently trading at $0.0001308, down 2.3% for the day, and its trading volume has fallen by around 30% since 24 hours ago.
Terra Luna Classic’s price has been in a downtrend and has consistently remained below two trend lines, as shown on the daily chart below. Previous attempts to break this downward trend have only managed to pass the lower trend line (dotted). For LUNC to confirm an uptrend and the return of bullish market conditions, it must make a clear breakout above the upper trend line (solid line).
If the price fails to hold support at $0.0001251, LUNC may be forced to drop to a lower price level in search of fresh liquidity. If this occurs, the next potential support level could be at $0.00008.
From here there is a chance that bulls may step in a send the price higher.
Based on the current market conditions, the short-term outlook for LUNC appears bearish. However, some investors believe that LUNC, like other cryptocurrencies, could make a solid recovery in 2023.
t would take a significant increase in the value of LUNC, perhaps as much as 750,000%, for it to reach its all-time high again.
Such expectations are highly unlikely if its current supply stands, and indeed, LUNC’s ecosystem is just a pale reflection of the robust and vibrant network it was before the crash in May.
One potential strategy for helping LUNC increase in value and potentially reach the $1 level again could be a token burn drive. This would involve a reduction in the supply of LUNC tokens, which could potentially increase their value. However, the large current supply of LUNC tokens may make it difficult to achieve this goal.
For example, if the market capitalization of LUNC is assumed to be $1 billion, a very aggressive reduction in supply would be needed in order to have only 1 billion LUNC tokens left in circulation.
The current burn tax on all LUNC transactions is only 0.2%, which is insufficient to achieve the needed supply reduction. The community is advocating for an increase to 1.2%, but even this may not be enough to see positive results.
It is important to keep in mind that the cryptocurrency market is dynamic and that things can change quickly. The supply of LUNC will continue to be a key factor in its performance, and it may be worth keeping an eye on this token as we move into 2023.
Altcoins Offering Returns in the Shorter Term
Cryptocurrencies have been trading sideways for a few weeks now, leading some traders to start looking at alternatives with more potential in the short term. Listed below are some of the leading presales in the market, allowing investors to get in on the ground floor.
FightOut (FGHT) – Revolutionizing the Fitness Industry
FightOut, a new move-to-earn (M2E) fitness application and gym chain, has launched its pre-sale and investors believe it could have a significant impact on the web3 M2E market. Unlike other M2E applications, such as STEPN, FightOut takes a more comprehensive approach to tracking and rewarding users for their exercise and activity, and does not require any expensive buy-ins to participate.
The FGHT tokens, which will power the FightOut crypto ecosystem, are currently selling for 60.06 per 1 USDT. The pre-sale has already raised over $2.26 million in a short period of time, and interested investors are encouraged to act quickly to secure their tokens.
Visit FightOut Now
Dash 2 Trade (D2T): Presale Enters Final Stage
Dash 2 Trade is an up-and-coming analytics and social trading platform for the crypto market. It offers trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system, and a strategy back-testing tool.
The platform’s ecosystem will be powered by the D2T token, which users must buy and hold to access its features. Dash 2 Trade is currently conducting a token pre-sale at discounted rates and has already raised over $10.36 million.
The pre-sale dashboard will be released soon, and tokens are currently selling for $0.0533 each. They will be listed on multiple centralized exchanges in less than a month.
Visit Dash 2 Trade Now
C+Charge (CCHG) is a new peer-to-peer payment system for electric vehicle (EV) charging stations, having the aim of widening access to carbon credits. Running on Binance Chain, it launched the sale for its native CCHG token a few days ago, with CCHG set to be used within its network by EV owners to pay to charge their vehicles.
One of the interesting features of C+Charge is that it will also reward users with carbon credits for charging their EVs at its stations, with rewards provided in the form of the platform’s Goodness Nature Token (GNT). It’s also worth pointing out that the platform has already signed a deal with Perfect Solutions Turkey, adding 20% of the EV chargers in Turkey to its network.
Visit C+Charge Now
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