Terra Luna Classic Price Prediction – Can LUNC Reach $1 Parity?
Terra Luna Classic price prediction remains slightly bullish above the $0.00022 level, which is supported by a triple bottom pattern. The Terra Luna Classic has been struggling in the market for many months, particularly since rebranding in the aftermath of the collapse of the original Luna cryptocurrency.
The recent decline in crypto shows that traders have not yet gained full confidence in the network, which is also the reason for the market's low to no volatility.
But recently, Terra LUNA Classic has recently gained a slight bullish momentum; can LUNC reach $1 parity? Let's find out!
The Federal Reserve's comments regarding the ease of inflation measures triggered this week's surge in LUNC prices. The comments sparked a massive rally in the stock market, and the strong correlation between stocks and cryptos caused optimism to spill over into the bleak crypto market.
As a result, many cryptocurrencies, including LUNC, rallied in response to stock market gains. However, the coin is currently declining, raising the possibility that investors are still concerned about the sustainability of the LUNC's price growth.
The -2% drop could be attributed to an increase in the number of cryptocurrency investors withdrawing profits. The reason for quick profit booking could also be related to a lack of confidence in the growth's long-term viability.
Following the crash of the original LUNA coin, the new Terra network brand has suffered greatly in the market. It has also had an effect on LUNC's overall performance.
The only hope for the coin is token burning, which will help reduce market oversupply and push prices higher. It was already tested in September, when Binance and other major CEXs began burning LUNC tokens, causing the
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