Terra Luna Classic Price Prediction: 2024, 2025, 2030

LUNC price prediction: Key highlights

1. Primary support and resistance levels

• The weekly time frame analysis pointed to $0.00020 as the highest resistance.
• On the downside, $0.00005 acted as the lowest support level.

2. Market sentiment

• In June 2024, the overall market sentiment is slightly bearish, with LUNC consolidating.

3. Predictive forecasts

• Based on our AI/ML algorithms forecasts, LUNC is projected to trade at an average value of $0.002 by 2027 and $0.1 by 2033.

Given below is a comprehensive weekly technical analysis of LUNC, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

LUNC technical analysis: Unclear market signals leave investors in limbo

The Terra Luna Classic price prediction for 2024 highlights its performance over the past year, factoring in recent developments, market volatility, and general trends within the cryptocurrency market.

At the beginning of the analysis, LUNC was on a southbound journey, dropping below $0.00009 and facing a subsequent rejection. Consecutive bearish candles drove the asset to the lowest support level of $0.00005 in mid-August.
 

The bulls used this level to stabilize and regroup to launch a rally. Consequently, the market flashed green signals from mid-October. This rally gained additional momentum in November, surpassing all previous resistance levels and reaching a peak of $0.00020 by the end of the month.

The recovery was not isolated to LUNC; TerraClassicUSD (USTC) also pumped significantly. AMBCrypto reported that the rising demand for these two assets was due to recent initiatives by the Terra Classic community to elevate their values beyond the $1 mark.

One of these initiatives included a newly announced proposal to re-enable the market module, which aimed to help USTC regain its dollar parity and boost LUNC's value. Terra’s former developer, Daniel Hong, also introduced a new stablecoin called Mint Cash, backed by Bitcoin (BTC).

As part of the rollout plan for Mint Cash, the team announced an airdrop for LUNC and UST holders. Additionally, Binance’s new USTC perpetual contract listing bolstered this surge.

However, this peak was met with rejection, and the price began to decline from mid-December. This highlighted the market's adjustment to an equilibrium following an overextended condition. The declines continued until the third week of January. Interestingly, the bulls managed to halt any further drops at $0.00009. 
 

Towards the end of January, the bulls once again initiated upward momentum, allowing the price to retest its highest resistance towards the end of February. Another rejection in March drove the price to $0.00009, which formed a double top pattern.

Notably, the pattern’s completion in April did not result in a swift break below the neckline. Instead, the price entered a consolidation phase, trading between $0.00009 and $0.00011. At the time of writing, altcoin was valued at $0.00010.

The future trajectory will depend heavily on how the market reacts to the current support. If the price breaks below, it could trigger a sell-off, leading to further declines. The next support level would be $0.00005.

Conversely, if the bulls elevate the price above the upper range limit with significant volume, it could signal a bullish breakout. This could lead to a renewed rally, potentially targeting previous highs or establishing new ones. However, breaking past the peak barrier would require significant buying pressure and positive developments.

Our predictive models forecast a substantial increase for LUNC, projecting an average trading price of $0.002 within the next three years. By 2033, the asset is expected to average at approximately $0.1. 

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

• LUNC’s trading volume remained low for most of the analysis, but a significant recovery was observed as it approached its peak resistance level for the first time. After declining, the retest was supported by another modest recovery. 
• However, it wasn’t comparable to the heights observed in November. The following stagnation saw the volume recede substantially, reflecting investors' wait-and-see approach.
• The Relative Strength Index (RSI) stayed close to the oversold region till Q4 2023, dropping below it frequently. The indicator recovered decisively in mid-October. 
• It continued to rise, entering overbought territory towards the end of November. However, after reaching a peak of 77.83, it began to decline. Moreover, the indicator briefly fell below 50 between mid-January and February.
• Although it resumed an upward trajectory, it descended again by March. This decline culminated in the RSI turning bearish again by early April. Since then, it has maintained its proximity to the 50 line, registering at 44.93 at the time of writing. This highlighted a lack of strong momentum in either direction.
• The Chaikin Money Flow (CMF) lingered below the zero line until the end of October. Afterward, it rose, reaching its peak by the end of November. Following this, the indicator faced a downtrend, turning negative in early April.
• The CMF was observed to be recovering from mid-month. As the analysis ended, it stood at -0.02. This pointed to marginal selling pressure, but not significant enough to drive a strong trend.