• Terra Luna Classic (LUNC) is a cryptocurrency that powers the original Terra blockchain protocol, which collapsed in value in May 2022.
• Cryptocurrency markets are currently in wait-and-see mode ahead of a speech from Fed Chair Jerome Powell that could trigger fresh volatility.
• Technical analysis suggests that LUNC could continue grinding higher and potentially rally back to the north of the $0.00020 level.
What is Terra Luna Classic (LUNC)?
Terra Luna Classic (LUNC) is a cryptocurrency that powers the original Terra blockchain protocol, which collapsed in value in May 2022 after algorithmic stablecoin Terra UST lost its 1:1 peg to the US dollar. Currently, 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.
Cryptocurrency Markets Wait for Fed Chair Speech
Cryptocurrency markets are currently in 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.
Technical Analysis Predicts Bullish Outlook
Technical analysis suggests that if the uptrend continues to be respected, then LUNC could continue grinding higher in the weeks ahead and potentially rally back to the north of the $0.00020 level. Price predictions thus remain bullish as popular crypto technical analyst Mind Math Money speculated that if LUNC can break out of its near-term pennant structure to the upside, this could open the door to a potential run higher toward the $0.000277 area. Fellow crypto YouTuber Crypto King also expects as much as 1 trillion LUNC tokens to be burnt in years ahead, which would further drive up prices for those investing now..
Should You Buy Terra Luna Classic (LUNC)?
Asking whether it’s too late to buy an asset is never really productive – instead traders should focus on whether they believe buying an asset will be fruitful down the line or not by doing their own research and analytics into price movements and market news before making any investment decisions..
Conclusion
In conclusion, technical analysis suggests that LUNC has been going sideways this week but could continue grinding higher if certain key resistance levels are broken through and potentially rally back to around $0.00020 level or even higher depending on how well supplied coins burn over time and what other projects enter into its ecosystem . Ultimately though it’s important for traders do their own research before investing so they can make sure they are taking advantage of any opportunities available at present .
In conclusion, technical analysis suggests that LUNC has been going sideways this week but could continue grinding higher if certain key resistance levels are broken through and potentially rally back to around $0.00020 level or even higher depending on how well supplied coins burn over time and what other projects enter into its ecosystem . Ultimately though it’s important for traders do their own research before investing so they can make sure they are taking advantage of any opportunities available at present .