Terra (LUNA) is a cryptocurrency that powers the Terra blockchain, a platform designed for algorithmic stablecoins. Terra stablecoins are pegged to fiat currencies like the US dollar or euro, and their price stability is maintained through a mechanism called “burn and mint equilibrium.”
This mechanism uses two tokens, LUNA and TerraUSD (UST), to ensure that the supply of UST always remains stable. LUNA is the native token of the Terra blockchain and serves as a governance token, allowing holders to vote on proposals that affect the Terra ecosystem. It also plays a role in the “burn and mint equilibrium” mechanism, as it is burned to create new UST and minted when UST is burned.
Terra price has been forming an upward trajectory and experiencing a bullish outlook in the recent sessions. LUNA price surged over 56.7% in the past seven intraday sessions. The price bounced from the 50-day EMA and gained from a low of $0.685 to a high of 0.75.
It had a 24-hour trading volume of $126.41 Million with a drop of 8.36% as compared to the previous day. The live market cap is $438.035 Million and stands at 104th among the top cryptos. The volume-to-market cap ratio is 28.93% indicating high volatility in the market.
Terra LUNA Price Prediction November 2023
The trend action analysis elaborates that the LUNA crypto price bottomed out by the end of October and started gaining from the very beginning of November. Bulls accumulated near the 50-day EMA which halted the further decline and the price observed a sharp gain.
The recent price surge has shifted the short-term trend in the favor of bulls which may keep on adding more buying volume at the dips. As per the analysts, the price may reach a high of $0.96 with a potential gain of 29.4% by the end of November 2023.
Terra LUNA Price Prediction 2023
The optimistic analysts expect that the LUNA price may surpass $1 and reach $1.04 by the end of 2023. The optimistic analysts expect a maximum upside potential of nearly 40% by 2023. The short-term trend has turned optimistic which may help the price to surpass the $1 level.
The minimum price target up to which the price may advance is estimated at $0.37 by the end of 2023.
Terra Price Prediction 2024
As per the analysts, the most optimistic target that Terra price may achieve by 2024 is $1.43 indicating an upside potential of 91.2% from the CMP. The average analyst price target is $1.202 by the end of 2024. However, the pessimistic view of analysts expects the price to reach $0.95.
Terra Price Prediction 2025
Over the next three years, the LUNA crypto price may reach a maximum of $1.74 as per the most optimistic estimates of the analysts. The price may surpass a round level of $1.5 according to the average forecast of analysts. The minimum forecasted price by the end of 2025 is $1.09.
Terra Price Prediction 2026
The LUNA price has the potential to reach a high of $2.17 if an optimistic trend prevails for the crypto market. On the flip side, the most pessimistic view of the analysts expects the price to reach $1.42 by 2026.
Terra Price Prediction 2027
According to the analysts’ price prediction for the year 2027, the most optimistic view estimates a price target of $2.68. The average analysts’ price target is $2.39 and the minimum price target that Terra crypto may achieve by 2027 is $2.07.
Terra Price Prediction 2028
Over the next five years, the crypto world might experience a significant development. Cryptocurrencies might have played a significant role in the development.
As a result, the price of cryptocurrency may gain more in the next few years. The LUNA crypto may therefore rise to a high of $3.45 on the most optimistic side.
Moreover, the average price target of analysts by 2028 is $2.97. However, if uncertainties arise in the future and the price cannot surge to its full potential, then it may reach a minimum of $2.33.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
Source: https://www.thecoinrepublic.com/2023/11/16/terra-luna-price-prediction-2023-2028-can-luna-conquer-1-in-2023/