With the majority of assets in the cryptocurrency market consolidating, Terra Classic (LUNC) is going with the flow, doing especially poorly on its year-to-date (YTD) chart where it has dipped nearly 25%, but artificial intelligence (AI) algorithms predict a slight recovery for its price by the end of this month.
Indeed, LUNC has moved in the red for the past several weeks, maintaining a steady decline since the year’s turn, which has recently continued as the Terra Classic community voted against a proposal to prevent the chain’s validators from launching multiple validators on the network.
I have voted NO on proposal 12101Although I recognise the problem:1: if you follow the proposal to the letter, it would prevent allnodes, hexxagon, etc, from offering their managed validator service.2: There is no defined method to prevent, the proposal is un-actionable… pic.twitter.com/KCjmRwrCR3
— SolidVote LUNC Validator (@SolidVote) May 4, 2024
Terra Classic price prediction 30-day chart. Source: PricePredictions
Specifically, provided that these projections, based on technical analysis (TA) indicators like relative strength index (RSI), Bollinger Bands (BB), and moving average divergence convergence (MACD), turn out correct, they would represent an increase of 0.89% from the LUNC price at press time.
Terra Classic price history
For now, LUNC is changing hands at the price of $0.00010407, which suggests a decline of 1.71% on the day, an increase of 9.67% across the previous seven days, and a 24.11% drop over the month, in addition to losing 24.36% this year, according to the most recent chart data.
Terra Classic price 7-day chart. Source: Finbold
Meanwhile, crypto market analyst Javon Marks has estimated that LUNC might soon skyrocket over five times to reach the target price of $0.000593, provided it continues to mimic its behavior prior to hitting its all-time high (ATH) in September 2023, as he explained in an X post on May 6.
LUNC price analysis and prediction. Source: Javon Marks
Overall, making any definite Terra Classic price prediction is challenging, as the situation in this sector can change on a whim, so doing one’s own research and keeping up with any relevant LUNC news or Terra Classic news is critical when investing in LUNC.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
