Technical Analysis:
- Moving averages (MA): LUNC price remains below the 50-week and 25-week moving averages, indicating a continued bearish trend.
- Triangle Formation: The weekly chart shows a descending triangle formation, which often portends a continuation of the downward movement.
Price Predictions:
- 2025: Predictions vary:
- Some analysts expect the price of LUNC to reach a high near $0.000304.
- Others predict a range of $0.00018375 to $0.00037801.
Factors affecting the price:
- Token burn: By March 2025, more than 406 billion LUNC tokens had been burned, reducing the total supply and potentially affecting the price.
- Ecosystem Development: Despite community efforts, the total blocked value (TVL) on the Terra Classic network remains low at around $801,000, which may limit price increases.
Conclusion:
Technical indicators and current forecasts indicate uncertainty about the future price movement of LUNC. Investors are advised to closely monitor the development of the Terra Classic ecosystem and overall market trends before making investment decisions.
