Lunc Price Prediction: Today’s Lunc Price, 14th Dec 2022

Luna Classic’s price today is $0.0001683 USD

Terra Luna Classic Price Prediction

The price of the LUNC token, which powers the original Terra blockchain, was 2.6% down at the time of last trading, matching the general decrease in cryptocurrency markets. When LUNC/USD last traded, it was at about $0.000165.

The cryptocurrency is still up 10% from its November lows under $0.00015, while having dropped roughly 13% from its most recent highs near $0.00019.

LUNC appears to have started a new downturn since hitting record highs in September, at the same time. If the present downward trend continues, LUNC appears to be on track to drop below $0.00015 and move toward $0.00012 this month.

Bulls will be hoping that positive US economic data (such as lower inflation rates) and a Fed that sounds less hawkish can boost cryptocurrency sentiment and cause a breakout of this downtrend, but that is by no means a guarantee.

Okay, so the short term outlook is gloomy, but what about the long term? In 2023, will LUNC be able to reach new highs? Well, a recovery in LUNC shouldn’t be ruled out if cryptocurrency markets see a big shift in risk appetite, which is definitely a possibility if a quick, perhaps recession caused by US inflation paves the road for the Fed to start lowering interest rates once again. Can LUNC, however, reclaim its former glories? Unlikely.

That would necessitate a significant decrease in the current LUNC supply and probably a significant recovery in the LUNC ecosystem. That doesn’t seem realistic given that the Terra ecosystem effectively died when UST depegged back in May as a result of DeFi projects jumping ship. Instead of the token of a defunct environment like LUNC, other cryptocurrencies with flourishing development ecosystems and optimistic user growth are the most likely contenders to outperform in a future bull market for cryptocurrencies.

Also Read

ETH Price Prediction: Today’s Ehereum Price, 14th Dec 2022

Ethereum has followed suit, gaining control above $1,272 as investors await the...