Terra Luna Classic Price Prediction as LUNC Blasts Up 30% – Can LUNC Reach $1?

cryptonews.com:

Terra Luna Classic has risen by as much as 30% today, with its current price of $0.00009923 representing a 10% gain in the past 24 hours.

LUNC is also up by 12% in a week, as the Terra Luna Classic community begins to vote a new proposal that would push the network's burn rate back up to 1.5%.

If accepted, this would have a significant impact on LUNC's supply, and combined with other recent proposals related to re-pegging USTC to $1, it could help the altcoin regain much of the value it lost in May 2022.

Of course, agreement within the Terra Luna Classic community is not unanimous on how to restore LUNC's position, so the process of recovery may still take several months or even years.

LUNC's chart suggests that, after its surge of the weekend, it may be on the brink of falling further.

The altcoin's relative strength index (purple) has dropped from more than 80 during the weekend to almost 40 today, signalling a steep loss in momentum and buying interest.

At the same time, its 30-day moving average (yellow) has now flattened out after rising over the past couple of days, with the indicator likely to begin falling towards -- and maybe below -- LUNC's 200-day moving average.

It will therefore be interesting to see how LUNC's support level behaves, with the coin set to test the $0.000095 in the next few hours.

If it can remain above or around this level, then it's possible it will regain some of its weekend momentum, although a fall below $0.000095 will have negative implications.

This caution aside, LUNC's rally over the past couple of days has been caused by increasing hope with regards to recent proposals and the development of the Terra Luna Classic network and ecosystem.

In particular, proposal #11549 would result in LUNC's