Terra LUNA Price Prediction: LUNC Price Action Bores Investors

Our Terra LUNA price prediction is still the same as mentioned in our last article. The price is still trading inside the same range and has failed to break the $0.000115 resistance. This region has become a major hurdle for a positive LUNC price action. At the time of writing, the price is trading at $0.000101 after gaining 1.6% within the last 24 hrs.

On Monday morning, the Bitcoin price broke last week’s highs, now trading at $24,148. Most altcoins are also showing a similar price action. Investors are anticipating another major recovery wave in the market as soon as the BTC reclaims the $25k level.

Nevertheless, Terra LUNA price is still lagging most altcoins in the ongoing recovery. Many retail investors are still holding their LUNC bags even after the collapse of UST. Such investors are getting rid of their LUNA Classic bags slowly, adding to the selling pressure in the market.

According to Terra LUNA news today, activity on the legacy LUNA chain has been constantly decreasing since the launch of LUNA 2.0. Most of the projects have already moved on the new chains, and many are in the transition phase. The development of the old chain seems to have ceased right now.

Terra LUNA Price Prediction

The technical analysis of the LUNA USD chart is straightforward. The coin has broken out of the falling wedge but has failed to gain any momentum since then. The price seems to have found some support at $0.000086 level as it has bounced off it twice. The only hope for the bulls is the break of $0.000115 resistance soon, or the price might retrace to the $0.000086 support once again.

A break above $0.000115 might fulfil our $0.000136 Terra LUNA price prediction very soon. However, a breach of $0.000086 level is likely to trigger another bearish leg. Therefore, it might be a good idea to use this level as a stop loss for any long trade. You can buy LUNA and LUNC by signing up on crypto exchanges like Binance, Kucoin and BYBIT.

Terra LUNA Daily Chart

Technical analysis of Terra LUNA price chart (1D).
Terra LUNA Price Chart (1D)