Terra Luna Classic Price Prediction: 2024, 2025, 2030

LUNC price prediction: Key highlights

1. Primary support and resistance levels

• $0.00020 was marked as the highest resistance on the weekly chart.
• Meanwhile, $0.00005 remained the lowest support level.

2. Market sentiment

• In July 2024, the market sentiment is seen to be bearish.

3. Predictive forecasts

• Our AI/ML algorithms project LUNC to trade at an average price of $0.001 by 2027 and $0.1 by 2033.

Take a glance at LUNC’s detailed weekly technical analysis, followed by projections for the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

LUNC technical analysis: Adverse market conditions challenge buyers

LUNC was enveloped by a pervasive bearish sentiment on the higher time frame. While Q4 2023 reflected fleeting optimism among investors, the 2024 Terra Luna Classic price prediction presents a cautious stance.

The analysis began with LUNC's attempt to test $0.00009. A subsequent rejection preceded a series of red candles, pushing the price down to its lowest support at $0.00005 by mid-August. Moreover, a late September attempt to overcome $0.00006 triggered a retracement to the yearly low. 

This level served as a springboard for the bulls, who initiated a rally marked by positive momentum starting mid-October. The uptrend continued into November, allowing the price to break past all previous resistance levels and reach a peak barrier of $0.00020 by month's end.

The resurgence was not limited to LUNC alone. TerraClassicUSD (USTC) also experienced a significant increase in value. A report by AMBCrypto revealed this uptick in demand for both assets was propelled by initiatives from the Terra Classic community to push their values above the $1 threshold. 

Furthermore, Terra’s former developer, Daniel Hong, unveiled a new stablecoin, Mint Cash, backed by Bitcoin (BTC). In alignment with the launch of Mint Cash, the team also planned an airdrop for both LUNC and UST holders. The momentum was further supported by Binance listing a new USTC perpetual contract.

Nevertheless, the market’s overbuying streak triggered a correction in mid-December, returning LUNC to $0.00009 by late January. A succeeding bullish resurgence pushed the price to retest the yearly high by the end of February. Yet again, it faced rejection in March, affirming a double top pattern as the price plunged to the former base in April.

Despite this formation, LUNC did not witness a sharp decline. The price consolidated, fluctuating between $0.00009 and $0.00011. The closure of Terraform Labs following a $4.47 billion settlement with the U.S. Securities and Exchange Commission (SEC) triggered a bearish breakdown of $0.00009, reverting to a price barrier in mid-June.

As the calendar turned to July, LUNC dropped to stabilize over $0.00006. AMBCrypto reported that the network recently delegated 30 million tokens to hexxagon.io. Furthermore, Terraform Labs announced its plans to sell four companies as part of the SEC settlement.

While this move could have economic implications on the price charts, LUNC continued its downtrend. At the time of writing, the altcoin traded at $0.00007. The future trajectory appears grim as the bears focus heavily on the current support. If the price breaks below, it could trigger a sell-off, leading to a further decline to $0.00005.

Conversely, if the bulls elevate the price above $0.00011, it could tilt the scales in their favor. This development could spark a renewed rally, aiming for previous highs or setting new ones. However, surpassing the peak barrier would necessitate substantial buying pressure and favorable developments.

Our predictive models forecast a significant rise in LUNC, estimating an average trading price of $0.001 over the next three years. By 2033, the asset is projected to average around $0.1.

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

• The trading volume was low throughout most of the period analyzed. However, a notable increase was observed as LUNC neared its peak resistance level for the first time. 
• A decline followed this, and although there was a modest rebound during the retest, it did not match the peaks seen in November. After that, the volume returned to its lackluster state as investors withdrew.
• The Relative Strength Index (RSI) maintained proximity to the oversold region till Q4 2023, often dropping below it. The indicator began a strong recovery in mid-October, reaching overbought territory by late November. 
• After peaking the following month, it declined and dropped below the 50 line from mid-January to early February. While the RSI initially rebounded, it descended again in March, leading to a bearish turn by early April. At the time of writing, it stood at 38.09.
• The Chaikin Money Flow (CMF) moved over the zero line by the end of October. After rising exponentially, the indicator reversed its course, turning negative in early April.
• The negative values slightly recovered mid-month. As the analysis ended, the CMF stood at -0.08, pointing to dominant selling pressure.