Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) ecosystem, has experienced solid growth alongside the broader crypto market since the start of 2023.
Notably, after the drop, the LUNC community employed several measures, in conjunction with the wider crypto sector’s backing, to support Terra Classic keeping of interest among invesstors. Since artificial intelligence (AI) has lately come into the spotlight with tools like OpenAI’s ChatGPT, investors are turning to deep learning algorithms to help predict the direction of cryptocurrency prices.
PricePredictions’ machine learning algorithm, in particular, predicts that LUNC will trade at to $0.000172 on February 28, a slight decline from its current price at the time of publication.
The artificial intelligence forecasts use different technical indicators, such as the Bollinger Bands (BB), moving averages (MA), moving average convergence divergence (MACD), relative strength index (RSI), and others.
LUNC technical analysis
The LUNC technical analysis on TradingView is mixed, with the summary aligning with the ‘buy’ sentiment at 11 while moving averages are for ‘buy’ at 9. Oscillators are pointing at ‘neutral’ with 8.
LUNC is currently trading at $0.0001731, up 2.58% in the last 24 hours and 0.90% across the previous week, with a total market cap slightly above $1 billion. As things stand, Terra Classic has a notable support level of around $0.00016, meanwhile, the first resistance zone is at $0.00019.
An ambitious community plan that might see an attempt to re-peg USTC in a significant comeback for the project could be another important motivator for LUNC price movement in the coming weeks.
It’s important to keep a watch on this plan because if it’s met, it might be the catalyst for a price increase and the end of the current trading range. As the price of $0.00019 approaches, it will serve as a defining test for this rally’s viability.