The price of Terra Luna Classic (LUNC)has jumped by as much as 5% in the past 24 hours, with the altcoin currently sitting on a 13% gain in the last seven days.
At $0.00009271, LUNC is also up by 6% in a fortnight, although it remains down by 36% since the beginning of the year, with the market becoming increasingly frustrated with the Terra Luna Classic community's lack of progress in re-pegging sister stablecoin USTC.
This lack of progress has been worsened in recent weeks by disagreement over upgrade proposals, including proposals related to reverse splitting USTC and also to reducing LUNC's staking undelegation period.
As such, it may take some time for LUNC to mount a serious recovery, although with the coin still undervalued, now may still be a very good time to buy the coin at a discount.
Terra Luna Classic Price Prediction as LUNC Jumps Up 5% – Time to Buy?
LUNC's chart suggests that it may be in a position to make further gains, with its indicators looking as though they should all be rising in the short-term.
The price of Terra Luna Classic (LUNC)has jumped by as much as 5% in the past 24 hours, with the altcoin currently sitting on a 13% gain in the last seven days.
At $0.00009271, LUNC is also up by 6% in a fortnight, although it remains down by 36% since the beginning of the year, with the market becoming increasingly frustrated with the Terra Luna Classic community's lack of progress in re-pegging sister stablecoin USTC.
This lack of progress has been worsened in recent weeks by disagreement over upgrade proposals, including proposals related to reverse splitting USTC and also to reducing LUNC's staking undelegation period.
As such, it may take some time for LUNC to mount a serious recovery, although with the coin still undervalued, now may still be a very good time to buy the coin at a discount.
Terra Luna Classic Price Prediction as LUNC Jumps Up 5% – Time to Buy?
LUNC's chart suggests that it may be in a position to make further gains, with its indicators looking as though they should all be rising in the short-term.
At the same time, the coin's 30-day moving average (yellow) has been well below its 200-day average (blue) for far too long, meaning that a reversal towards a more positive position is long overdue.
That further gains could be coming is also suggested by LUNC's support level (green), which has been rising over the past week, with the coin not falling far at all whenever its gains have stalled.
This is a positive development, although the question of whether LUNC can make truly substantial returns all hinges on whether the Terra Luna Classic community can reach agreement on a plan for boosting the coin's price, as well as that of its related stablecoin, USTC.
Recent weeks have witnessed some progress in this respect, with validators accepting a proposal to establish a test environment for trailling new updates, so as those related to re-pegging USTC and/or burning LUNC.
Unfortunately, not much has been achieved beyond such measures, with little concrete progress in terms of actually putting something into practice.
Real progress has been hampered to a large extent by disagreement within the LUNC community on how to boost the coin's fortunes, with a number of recent proposals being rejected by validators.
While rejected proposals may have deserved to fail, the fact that numerous proposals are being put forward and then rejected highlights the unfortunate division at the heart of the Terra Luna Classic community.
For this reason, it may be some time before LUNC enjoys a really substantial gain, even if it could potentially rise to $0.0001 in the next few weeks, and possibly $0.0002 or $0.0003 by the end of the year.
Presale Tokens Have More Potential
Because holders may be waiting several months (if not longer) for LUNC to post serious returns, some traders may prefer to look elsewhere for shorter term and more substantial gains.
One good source of big returns at the moment is presales, with presale tokens – at least the better ones – potentially in line for making serious gains once they list on exchanges for the first time.
One of the strongest presale coins in terms of fundamentals right now is Chimpzee, an Ethereum-based platform that rewards its users for taking actions that support the environment and endangered animals.
Chimpzee opened the presale for its native CHIMPZ token last month, and has already raised more than $850,000.$LUNC
