The cumulative value of cryptocurrencies is still over $1.93 trillion, and while volume has weakened slightly, it remains at a normal level. The fear and greed index is currently at 74. All this reflects the potential for a new upward movement in altcoins. What are the predictions for LUNA and LUNC Coin?
Terra (LUNA)
Do Kwon will eventually face legal consequences, albeit delayed, following the collapse of Terra. It has been revealed that Kwon had previously launched a similar algo stablecoin project under an anonymous identity, which also failed. Now, as the key members behind Terra watch the process with uncertain penalties, LUNA Coin remains the 133rd largest in volume and 129th in market value.
Volatility attracts some investors, but what does the price chart tell us? The previously mentioned resistance at $0.745 was not overcome, and the price failed to continue its rise. Now, it needs to either return to $0.655 or attempt to reclaim the key region.
If the region is turned into support, the rally could extend towards $0.8, and we could see the rally accelerate with closes above this level (it appears the ceiling is $1.3).
LUNC Coin Price Prediction
LUNC Coin burns initially sparked some excitement due to the efforts of Terra Rebels, aiming to reduce the target supply to a more reasonable level of 10 billion. However, there is a problem: with people holding millions or even billions of tokens, reducing the supply to 10 billion through burns is impossible. Moreover, at the current token burn rate, it would take 101 years, 3 months, and 19 days to reach the targeted 10 billion level. If current investors believe they will live another 101 years, that the supply will continually decrease, and that LUNC Coin will survive, they can base this expectation on solid ground.
Regarding the price, a new speculative move to $0.000162 could be seen with closes above $0.00011756. However, this requires strong entries into altcoins while BTC remains stable. No ETF-supported rally is expected tomorrow as US markets are closed for a holiday.
