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Terra Luna Classic (LUNC) Price Prediction – When will LUNC hit $0.1?

Terra Luna Classic (LUNC) Price Prediction

The Terra Luna Classic community is preparing for an additional upgrade as L1TF. The primary developer has decided to convert a previously approved proposal that addressed the resolution of the sequence mismatch issue into an upgrade proposal. The most recent proposition is nearing endorsement, receiving 100% positive ballots from validators and voting information.

The voting process for Proposal 11890, entitled "Resolution of Sequence Mismatch Issues: Upgrade to v2.3.2," is underway. The principal aim of this proposition is to implement the Terrad client v2.3.2 on the blockchain. Significantly, this update resolves a critical issue concerning sequence mismatch affecting specific validators throughout dyncomm commission revisions.

After receiving initial approval from the community, the Sequence Mismatch Issue Resolution proposal was reframed as an upgrade proposal by validators and the core developer L1TF. This modification enhances the efficiency of the validator process by stopping the chain automatically, thereby enabling validators and node administrators to upgrade more seamlessly.

It is crucial to emphasize that the binary has been updated to version v2.3.2 (v6_1) by the upgrade proposal's specifications. It is anticipated that the chain will end at block 15751600 on December 8.

The proposal has received unequivocal approval from the validators who participated in the Terra Luna Classic, as all 28 individuals cast "Yes" ballots. Prominent validators, such as Interstellar Lounge, Luna Station 88, StakeBin, and JESUSisLORD, have all supported the proposed upgrade.

The LUNC coin is priced in from the fundamental development, but it might need more clues before offering a long opportunity.

Let’s see the future price direction of this coin from the LUNC/USDT technical analysis:

LUNC/USDT Bullish Continuation Is Solid

LUNC/USDT Bullish Continuation Is Solid

In the daily chart of LUNC/USDT, a strong bullish reversal is present, setting the bottom at the 0.000052 level. Moreover, the buying pressure is supported by a strong volume accumulation, which could work as a confluence support to a trend reversal.

In the weekly chart, a clearer view of the bullish reversal is present, with more room for the upside. Moreover, the November close came as a blessing as the latest strong bullish monthly candle eliminated the last three months’ losses. Therefore, long-term traders and HODLers might consider it a trend change where the current price is still at the discounted zone.

In the volume structure, a strong buying signal is present from the latest accumulation. The largest volume level in 2023 is spotted at the 0.00088 level, which is at the latest accumulation zone. It is a sign that bulls are done with the order building, and the price is likely to rally until a profit-taking area comes.

The daily dynamic 20 EMA is below the current price, with a bullish crossover from the high volume static line. It is a sign of ongoing buying pressure in the market, which is questionable from the RSI reading.

The current 14-day Relative Strength Index (RSI) is above the 70.00 line, which indicates an overbought condition. However, no divergence has formed with no significant bearish reversal candlestick formation.

Based on the daily outlook of this coin, the ongoing buying pressure is potent as long as it trades above the 0.000111 static level. In that case, the upside pressure could extend towards the 0.00211 resistance level.

On the other hand, the Pump and Dump scheme would create a downside pressure in this coin, where a bearish exhaustion with a D1 close below the 20 DMA could be a short opportunity.

LUNC/USDT Ichimoku Cloud Analysis

LUNC/USDT Ichimoku Cloud Analysis

In the daily chart, the current price remains stable above the dynamic Ichimoku Cloud zone. Moreover, the future cloud suggests strong buyers' presence in the market as the Senkou Span A and B show an upward slope. Moreover, the dynamic Kijun Sen is the immediate support, which is working as a confluence buying pressure below the 0.000110 level.

In the latest price action, the buying pressure shows an overextended momentum from the 0.000068 bottom. It is a sign that bulls are in action, from where profit-taking might come from a reliable price level.

Based on this outlook, a minor downside correction is possible in the LUNCUSDT price, where the primary target is the dynamic Tenkan Sen support. On the other hand, a bullish reversal from the 0.000120 could be a potential long opportunity, aiming for the 0.000200 level.

LUNC/USDT Intraday Price Action Analysis

LUNC/USDT Intraday Price Action Analysis

In the LUNC intraday price, the H4 chart suggests a strong bullish continuation as the dynamic 20 EMA acts as a strong support. Moreover, the visible range high volume level indicates a confluence buying signal as the current reading is at the 0.000118 level.

The MACD Histogram suggests a buying pressure from the bullish PNP formation, where the current signal line is above the neutral zone.

Based on the H4 LUNC/USDT price projection, another bullish leg might appear as a strong H1 candle is present from the latest channel breakout. In that case, the primary aim for this pair is to test the 0.000180 resistance level.

The alternative approach is to find an hourly candle below the dynamic 20 EMA, which could indicate a reversal possibility towards the 0.000068 level.

Is LUNC/USDT A Buy?

Based on the current fundamental development, LUNC/USDT bullish pressure is more likely to extend the price in the coming days. Investors should closely monitor how the price reacts at the intraday support to find high probable buying setups.

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