Terra Luna Classic Price Prediction as LUNC Market Cap Blasts Above $1 Billion – Time to Buy?

cryptonews.com:

Terra luna classic has risen to $0.00016897 today, capping a 1% rise in the past 24 hours, as the cryptocurrency market recovers from recent losses. This price marks a 9% drop in the past week and a 6.5% decline in the last 30 days, as LUNC teeters between recovery and relapse. 

However, today's movements have enabled LUNC to reclaim its $1 billion market cap, which it had lost over the weekend. And with its 24-hour trading volume also returning to $100 million, there's enough liquidity in its market to feed further rises in the near future.

LUNC's indicators suggest that it could be recovering from its recent losses, with both main indicators signalling potential rallies. Its relative strength index (purple) has risen from 20 to 50 in the past few days, meaning that buying momentum could increase and push its price further.

At the same time, LUNC's 30-day moving average (red) has turned upwards again after falling below its 200-day average (blue). Again, this suggests that a positive movement may be incoming.

LUNC's rise to day comes as its trading volume rises from a low of $47 million over the weekend to over $100 million yesterday. This is another sign that a rally could be coming, and that now may be a good time to buy.

In terms of levels, it will be interesting to see if LUNC can break through the $0.00017 resistance level. If it can, then a more prolonged rally may be possible.

As far as fundamentals go, there are plenty of reasons to be optimistic if you're a LUNC holder. In particular, the now-accepted proposal to re-peg USTC is very bullish for the altcoin, since re-peg its sister stablecoin would necessitate a large-scale burn of LUNC tokens. 

As its authors write, the accepted proposal entails "designing a more