Terra Luna Classic Price Prediction as LUNC Jumps Up 5% – Time to Buy?

cryptonews.com:

The price of Terra Luna Classic (LUNC) has jumped by as much as 5% in the past 24 hours, with the altcoin currently sitting on a 13% gain in the last seven days.

At $0.00009271, LUNC is also up by 6% in a fortnight, although it remains down by 36% since the beginning of the year, with the market becoming increasingly frustrated with the Terra Luna Classic community's lack of progress in re-pegging sister stablecoin USTC.

This lack of progress has been worsened in recent weeks by disagreement over upgrade proposals, including proposals related to reverse splitting USTC and also to reducing LUNC's staking undelegation period.

As such, it may take some time for LUNC to mount a serious recovery, although with the coin still undervalued, now may still be a very good time to buy the coin at a discount.

LUNC's chart suggests that it may be in a position to make further gains, with its indicators looking as though they should all be rising in the short-term.

For one, LUNC's relative strength index (purple) has risen to 60 today, indicating an influx of buying momentum that could push the altcoin higher.

At the same time, the coin's 30-day moving average (yellow) has been well below its 200-day average (blue) for far too long, meaning that a reversal towards a more positive position is long overdue.

That further gains could be coming is also suggested by LUNC's support level (green), which has been rising over the past week, with the coin not falling far at all whenever its gains have stalled.

This is a positive development, although the question of whether LUNC can make truly substantial returns all hinges on whether the Terra Luna Classic community can reach agreement on a plan for boosting the coin's price, as well as that of its