Terra Classic (LUNC) has faced significant turbulence in recent months, currently stuck in a downtrend despite a modest 12% year-on-year price increase.
Worryingly, LUNC underperforms 81% of the top 100 cryptocurrencies and trades below the digital asset’s 200-day moving average.
Regulatory hurdles and legal battles surrounding Do Kwon cloud LUNC’s short-term outlook.
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However, Binance‘s massive token burn, eliminating 4.17 billion LUNC tokens, highlights efforts to reduce supply and potentially boost prices.
Terra Classic’s future hinges on overcoming regulatory challenges and achieving wider adoption within the Terra ecosystem. While the near-term is uncertain, LUNC’s long-term potential remains intriguing, especially if the DeFi space thrives.
Forecasting LUNC’s potential trajectory
Based on AI-powered machine learning algorithms, Terra Classic is expected to experience a moderate increase by the end of April.
The prediction model forecasts LUNC to reach $0.000154, up from its current price of $0.000135. This suggests a cautiously optimistic outlook Terra classic price in the coming weeks.
Terra Classic price analysis
At the press time, the price of LUNC sits at $0.000135. Over the past day, it has experienced a decline of -2.01%, continuing a downward trend. This daily decrease adds to a larger decline of -3.61% over the past week, indicating sustained negative momentum.
Looking at the broader picture, Terra Classic has endured a significant decrease of -30.43% over the previous month, reflecting substantial volatility and bearish sentiment in the market.
The immediate future for LUNC is shrouded in some uncertainty. While AI predictions offer a cautiously optimistic short-term outlook with a potential price rise by the end of April, recent events like Do Kwon’s release from jail have caused price dips.
Despite this volatility, some experts remain bullish on LUNC’s long-term prospects, citing the ongoing development within the Terra Classic ecosystem. Only time will tell if LUNC can overcome its current hurdles and navigate this period of flux.
