Terra Price Prediction: 2024, 2025, 2030

LUNA price prediction: Key highlights

1. Primary support and resistance levels

• $0.28 can likely be the lowest support on the weekly time frame.
• Meanwhile, the highest resistance was noted at $1.25.

2. Market sentiment

• LUNA remains in a bear market as of September 2024.

3. Predictive forecasts

• Based on our AI/ML predictive models, the average price of LUNA is projected to be $1.00 in 2029 and $2.00 in 2035.

Take a glance at an extensive weekly technical analysis of LUNA, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

LUNA technical analysis: Buyers regain momentum

LUNA has had a challenging trading journey riddled with difficulties caused by the 2022 collapse. Surrounded by notable developments and legal challenges, the Terra price prediction for 2024 aims to examine what lies ahead for this crypto asset.

The analysis began with a notable rejection at $0.45. Attempts to reclaim this level culminated in the asset crossing it slightly in late September and October. Furthermore, a decisive bullish flip succeeded this in late October. 
 

In the following months, LUNA experienced substantial pumps that drove it to test the highest yearly resistance at $1.25 in early December. A rejection at this level prompted continuous declines, which were halted at $0.56 in the new year. After a brief recovery, LUNA plummeted again in late January as Terraform Labs filed for Chapter 11 bankruptcy in the United States.
 

Regardless, mirroring the broader market, the uptrend resumed in February. By March, LUNA was once again challenging its yearly high. Nonetheless, in April, a Manhattan jury found Terraform Labs (TFL) and its founder, Do Kwon, guilty of defrauding investors before their stablecoin's 2022 collapse. 

The verdict supported the U.S. Securities and Exchange Commission's (SEC) claim, sending shockwaves through the cryptocurrency market. Thus, the succeeding downfall erased the previous gains, and the asset returned to $0.56.

After two months of containing further depreciation, this level was lost to sellers in mid-June. Furthermore, AMBCrypto reported that TFL’s CEO announced its closure after agreeing to a $4.5 billion settlement with the SEC.

The market flashed red signals, and LUNA’s price dropped to the lowest yearly support of $0.30 in July. After reclaiming $0.37, the price climbed to $0.45 mid-month following a court order. This order permitted the reopening of the Shuttle Bridge, enabling the redemption of wrapped assets on Terra Classic (LUNC). It also permitted the undelegation and burning of 150 million LUNA from a community grant.

However, this preceded a downturn that pulled the asset back to the former low. In early August, the news of  Kwon’s extradition triggered further market pessimism, with the price hitting a two-year low. It recovered swiftly by mid-month to exceed $0.37. 
 

Nonetheless, by September, the asset retested the lowest support. Yet, again, the bulls reclaimed the $0.37 support by mid-month. At press time, LUNA’s trading price was $0.39.

As TFL wound down its operations, Proposal 4818 was the final chain upgrade implemented under its direct supervision. This upgrade included significant changes such as a substantial token burn, a 5% minimum commission rate for validators, and the elimination of blacklist functionality.

The Shuttle Bridge was also reopened in late August. It will remain operational for 30 days after the expected effective date of TFL's Chapter 11 plan, projected to be around October 30, 2024. After this period, any assets remaining within the bridge’s contracts will be burned.

The future of the Terra blockchain is now left with community-led initiatives like the Phoenix Directive. With strong community support, these updates aim to reduce LUNA’s supply and address previous challenges, potentially triggering a price rally for LUNA and LUNC.

If a rally ensues, the bulls can set their sights on reclaiming $0.45. A move over $0.56 would reverse the long-term bearish sentiment. However, if the declines continue, the price can free-fall to its year-low floor. The next downside target can be anticipated at $0.28.

The predictive models maintain a cautious outlook for LUNA’s future trajectory. They forecast the token to attain a $1.00 valuation within five years. Furthermore, by 2035, the average price can modestly increase to $2.00.

LUNA's 2024 roadmap: Key indicators to watch and trade

• The Chaikin Money Flow (CMF) turned positive in November, only to drop below the zero line in mid-April. The substantial selling pressure was evidenced by its press time value of -0.10.
• The Moving Average Convergence Divergence (MACD) and the signal line rose consistently from the outset. This ascent drove the former over the zero line in mid-March.
• However, the MACD line turned negative and dropped below the signal line in late April. In early September, a bullish crossover was formed.
• The latest recorded values were the MACD line at -0.0883, the signal line at -0.1011, and the histogram at 0.0127. 
• The trading volume remained predominantly low, with only intermittent surges coinciding with the price pumps. This reflected a lack of sustained investor interest.