As we head into the festive period, the cryptocurrency market is showing signs of recovery following the collapse of FTX and the bearish sentiment surrounding the space.
In particular, one token that continues to be among the most trending assets despite the collapse of the Terraform labs is the Terra Classic (LUNC) token, the original chain of the collapsed Terra (LUNA) ecosystem, which gained 12% in just 24 hours, adding over $100 million to LUNC’s market cap on December 2 alone.
According to the historical data acquired by Finbold, last Christmas, LUNC, formerly known as LUNA, was trading at $95.83. However, following the collapse and subsequent recovery plan, the existing chain and token have been rebranded.
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By factoring in several technical analysis (TA) indicators, LUNC’s 2022 Christmas day prediction is bearish, with the asset anticipated trade at $0.000106 on December 25, according to CoinCodex.com prediction. As things stand, LUNC is trading at $0.000175, which would mark a -39% decrease.
LUNC end-of-year price prediction
With the cryptocurrency market in the green at the time of publication, traders and investors may be surprised to see LUNC predicted to trade on Christmas Day 2022 lower than its current price. However, Terra Classic is estimated to spike on December 27 and then trade at $0.000211 by December 31, as per CoinCodex TA indicators.
Moreover, the crypto community over at CoinMarketCap is not losing optimism about the state of Terra Classic by the end of the year, similarly predicting it to trade at a median price of $0.000258 on December 31, 2022, as per data retrieved on November 25.
LUNC technical analysis
Observing the Terra Classic technical analysis (TA), the summary on the 1-day gauge suggests ‘neutral’ at 10 versus only 7 for ‘buy’ and 5 at ‘sell.’
Upon closer inspection of these indicators, moving averages (MA) are in the ‘neutral’ zone with 1. In the meantime, oscillators are tilted to the ‘buy’ sentiment at 7, against ‘neutral’ at 9, and ‘sell’ at 0.
At the time of publication, at $0.0001738, LUNC was trading up 0.76% on the day and a further 10.71% in the last seven days.
The total market capitalization of Terra Classic stood at $1.03 billion at the time of publication.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
