Source: Dall•E 3
The Terra Luna Classic price has slipped by 3% today, falling to $0.00020831 as the wider market declines by 0.5% in the past 24 hours.
Such a fall has done little to dent LUNC’s recent progress, however, with the altcoin having risen by 80% in a week and by 213% in the last month.
This means that its price has more than doubled in the last 30 days, and with the recent cessation of USTC minting raising the bullishness of investors, it’s likely to continue rising strongly in the coming weeks and months.
Terra Luna Classic Price Prediction as LUNC Doubles in 30 Days – Can it 2x Again?
LUNC continues to fall after rising aggressively over the past couple of weeks, with some of its indicators suggesting that it may continue to fall for a little longer yet before correcting upwards.
For instance, its RSI has now dropped from 90 to 70 in a matter of days, and its direction currently suggests that it could fall further, bring the Terra Luna Classic price with it.
Source: TradingView
On the other hand, LUNC’s 30-day average (yellow) is still rising decisively beyond its 200-day average (blue), a sign that the altcoin remains in a bullish phase.
Its trading volume also reinforces the view that it remains in a period of expansion, with volumes reaching $600 million today, in contrast to less than $20 million a couple of months ago.
It’s hard to say when exactly LUNC will return to its recent growth, but with volumes sticking to such higher levels, the wait for more growth isn’t likely to be long.
Indeed, LUNC has been the best-performing top-100 coin of the past 30 days, with this fact alone likely to continue attracting new buyers.
More fundamentally, it has seen significant progress from the Terra Luna Classic community in recent weeks, with several important proposals and updates gaining assent.
This includes a plan – now implemented – to stop minting USTC, the stablecoin linked to LUNC.
As $LUNC proposal #11868 passed (to fulfill #11784), $USTC now is no longer mintable. Stable-to-stable swaps are disabled. #LUNC/#USTC swaps via terraswap are still available of course. pic.twitter.com/Q7hAsdGJ2H
— StrathCole (@ColeStrathclyde) November 11, 2023
It also includes several important technical upgrades, such as one fixing a sequence mismatch issue.
Because of such developments, the market seems more confident in LUNC’s overall trajectory, with the Terra Luna Classic price likely to continue rising in the near future.
The acceptance of Bitcoin ETF applications will help accelerate its progress, with the coin potentially on course to hit $0.0030 in the next few weeks.
New Bitcoin ETF Project Launch Approaches
LUNC may need to fall a little further before rising again, however, so some traders may prefer to investigate newer tokens with more potential for short-term gains.
Identifying such coins can be difficult, yet one solid method for pinpointing possible winners is to look for successful presales, since big raises suggest that the corresponding coin has accumulated a considerable amount of momentum and market interest.
And one presale coin garnering plenty of interest right now is Bitcoin ETF Token (BTCETF), an ERC-20 cryptocurrency that has raised $2.8 million in its ongoing sale.
Next Block Expo discussions revealed profound insights into #Bitcoin‘s psychology, the halving’s cyclic impact, and the potential #ETF approval.
The $10-12 billion estimated income from #BitcoinETFs sparks major market excitement.
As Bitcoin’s halving and ETF prospects dominate… pic.twitter.com/xxdvj7qjbL
— BTCETF_Token (@BTCETF_Token) December 6, 2023
What separates Bitcoin ETF Token from the crowd of new coins is that it has emerged with a strong roadmap for future gains.
Specifically, it has adopted an aggressively deflationary set of tokenomics, with the coin set to burn 25% of its total max supply over time.
As its name suggests, it will burn 5% batches whenever Bitcoin ETFs or Bitcoin itself reaches certain targets, with the first burn set for when an SEC-approved spot-based Bitcoin ETF gains a volume in excess of $100 million.
Such a squeeze of its supply is likely to boost its price over time, with holders also able to stake the token for a passive income.
Such features potentially make BTCETF a lucrative coin, with new buyers able to join its sale by visiting the official Bitcoin ETF Token website.
They can buy BTCETF at a price of $0.0064 per token, with this presale price set to rise to $0.0066 in just under three days.
Needless to say, it could rise even higher once it lists.
Visit Bitcoin ETF Token Now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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