Terra Luna Classic Price Prediction as Crypto Prices Bounce Up – LUNC to $1 Soon?

cryptonews.com:

LUNC has risen by 1% in the past day, reaching $0.00016354 amid the same rise for the cryptocurrency market as a whole. Its price represents a 1% drop in the last seven days and a 32% decline in a month, with the altcoin being pulled in different directions by its ongoing token burns, on the one hand, and plans to 'merge' it with LUNA, on the other.

While the FTX and BlockFi collapses haven't helped LUNC post substantial returns, uncertainty over its future has been raised by the aforementioned proposal to convert it to LUNA, its newer counterpart. However, it seems that the Terra Luna Classic community as a whole hasn't taken positively to this idea, so it's debatable as to whether it will have any real impact.

LUNC's chart reveals a gradual accumulation of momentum in the past few days, with its relative strength index (purple) hovering around 60, which suggests overall buying pressure without too much buying. Similarly, its 30-day moving average (red) is about to climb over its 200-day average (blue), forming a 'golden cross' that could be a sign of a breakout.

Of course, with the market remaining in a precarious condition, there's no gurantee that LUNC will enjoy a sustained rally anytime soon, even if it's arguably due such a rally.

It's situation also isn't helped by a recent proposal to use the IBC bridge to let holders swap LUNC for LUNA. This bridge is due to open at some point later this month, which is when the Terra community would expect swaps to become possible, if the proposal is accepted.

While LUNA is currently worth less than LUNC, the idea's proposers are trying to sweeten the deal by offer some unspecified DEX-related incentives for locking up liquidity. Given that they haven't provided details of what