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Terra Luna Classic Price: LUNC Community Should Stay Calm And Take Advantage Of The Dip For A Better Future

04/25/2023
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Terra Luna Classic price (LUNC) has recorded massive declines since September 2022, losing almost 80% to date. The steady decline is attributed to investors losing faith in the project, as the case concerning Terra Labs co-founder Do Kwon dragged. Besides Terra Luna Classic price, the entire crypto industry also suffered as the implosion kick-started the 2022 bear market, whose consequences continued to stain the market almost a year after.

After the collapse of the Terra ecosystem in May 2022, market players developed trust issues against the network, and the aftermath of the lost trust continues to affect LUNC. During the incident, the network’s UST algorithmic stablecoin token depegged from its 1:1 value to the US dollar. The move sparked hyperinflation in the LUNC token, which had served as collateral for it.

Notably, Terra Luna Classic once traded with triple digits but has since reduced to three zeros before the decimal point. Indeed, the LUNC/USDT pair is now trading around the $0.000108 area, with individual tokens virtually worthless compared to its pre-May 2022 crash highs around the $120 area.

Efforts To Boost Terra Luna Classic Price

In a recent development, the Terra Luna Classic community voted on an integral parameter change proposal. The objective was (still is) to expand the Terra project on Terra Classic. Notably, the Terra Luna Classic beckons projects that will restore utility and boost LUNC burns. Accordingly, the expansion project requires an increase in MaxContractSize to ramp its contract on the chain properly.

Proposal 11477 ‘Increase MaxContractSize to upload code’ submitted by TerraPoker aims to increase of key on Cosmos Wasm MaxContractSize to 819200 from 614400. This will allow the protocol to upload its contract on the chain.

In readiness, the LUNC community is considering whether changing the proposal could affect the stability of the chain. The core project developers, Edward Kim, and Tobias Anderson believe it would and have exited the Joint L1 Task Force developer group. This adds the overhead pressure weighing down on Terra Luna Classic price. The project needs community support to go live on the Terra Classic chain.

Key Upgrades That Could Boost Terra Luna Classic Price

As reported, Terra upgraded its testnet chain on March 21, dubbed Pisco, and incorporated several new and significant upgrades. These include upgrading Cosmos-SDK to v0.46.x, updating Wasm to use v0.30.0, and updating IBC and packet-forwarding-middleware from v3 to v6. They also added IBC-hooks as a custom module and implemented the token-factory module. Other upgrades included enabling the ICA-controller module and adding the Alliance module.

Terra Luna Classic Price Prediction: Here’s How The Future Could Look For LUNC

The LUNC community should stay calm and take advantage of the dip for a better future. Failure to take advantage of the buying opportunities could see Terra Luna Classic price descending further. Based on the slope of the descending trendline, a continued slump could see LUNC record $0.000100 before the end of the week.

Several technical indicators support the bearish outlook for Terra Classic price, starting with the Relative Strength Index (RSI). This momentum indicator shows a price strength of 32 at the time of writing. Its southbound slope and that of the SMAs hinted at more traders hedging their LUNC for less risk-prone assets.

The Moving Average Convergence Divergence (MACD) indicator was also below the mean line in the negative zone. The histograms were also flashing red, and together, these indicated bears were leading the LUNC market. Failure of a bullish resurgence could solidify the downtrend for Terra Luna Classic price.

Terra Luna Classic Price (LUNC)
TradingView Chart: LUNC/USDT 1-day chart

On the upside, the progressive downtrend continues to provide opportunities for LUNC holders to buy the dip. Such an outcome could revise the directional bias that Terra Luna Classic price displays.

If sidelined investors seize the opportunity, Terra Classic price could correct to breach the resistance presented by the downtrend line. An increase in buying pressure above this level could elevate LUNC above the 50-day Simple Moving Average (SMA) at $0.000125. A decisive candlestick close above this level would invalidate the bearish outlook.

Further north, Terra Classic price could tag the 10-day SMA at $0.000147, or in the highly bullish case, the altcoin could knock the 200-day SMA at $0.000169.

LUNC Alternative

With the future of Terra Classic still uncertain, consider Ecoterra, a project that is recording massive success with its presale. Thus far, the project has collected more than $2.21 million.

Ecoterra is a project committed to supporting environmental activities while participants simultaneously earn rewards and fight climate change.

The Ecoterra project brings forth an innovative recycle-to-earn concept, shedding light on the efforts that we can all make to promote a lifestyle geared toward sustainability. It uses a very simple concept: there are four elements of the Ecoterra ecosystem- recycling, the marketplace for recycling, educative material, and the marketplace for the carbon offset.

Users have to create a profile that allows them to monitor their activities. The profile also keeps track of the rewards they will get for their participation and all the other data requisite for smooth running.

The primary step toward a greener future, according to Ecoterra, is recycling. However, it appears that people may not be as driven to implement it into their daily routines as they ought to be. Considering people’s responses when asked about recycling, the situation is concerning. For instance, some say the lack of free space for the bins is the main problem. Still, others insist that access to the bins or the reverse vending machines is not convenient based on their daily routines.

Another cohort of respondents argues that they do not have the time required for recycling. Despite the weight of these arguments, Ecoterra is committed to overcoming them by leveraging a rewards system. The project’s key focus is to increase awareness concerning the necessity of making small efforts that will add up in the end.

How to buy

Accordingly, Ecoterra boasts a recycle2earn principle, a concept that is several times more powerful in the effort to reduce the impact that pollution has on the planet. Most notably, – anyone can join!

ECOTERRA, the native token for the Ecoterra ecosystem, is the key to releasing all the potential that this project has to offer. The presale will transcend through nine planned stages, offering early investors a chance to reap more gains with every stage. Noteworthy, the price will continue to rise across the stages.

Based on analyst predictions, the expected success of this presale suggests that the value of ECOTERRA tokens will explode upon the completion of the presale. As such, investing in the early stages of this project is advantageous for anyone looking to get the most out of their investment.

To buy ECOTERRA tokens is very simple, requiring that an investor holds a USDT or ETH card to purchase the green token. The presale is moving ultra-fast, and half a million dollars could hit soon. You should invest as soon as you can to get the most tokens and enjoy early entrant benefits. Grab your ECOTERRA tokens today and be part of the recycling effort while helping the environment and making a profit.

Read More:

Ecoterra – New Eco Friendly Crypto

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Source: https://insidebitcoins.com/news/terra-luna-classic-price-lunc-community-should-stay-calm-and-take-advantage-of-the-dip-for-a-better-future