Terra Luna Classic Price Prediction as LUNC Starts New Rally – Where is LUNC Headed in 2023?

cryptonews.com:

LUNC, the native token of the now mostly defunct original Terra blockchain, which saw a catastrophic exit of its Decentralized Finance (DeFi) trade value locked (TVL), developers and community members when the value of its UST stablecoin depegged from the US dollar and triggered hyperinflation in the LUNC token, is rallying a little on Monday. Prices are a little higher across the crypto space on Monday, though most major coins remain within recent ranges.

Big breakouts in the next two days are unlikely given 1) most traders and market players remain away from their desks due to year-end celebrations and 2) Wednesday through Friday sees a barrage of important US tier 1 data releases that could really shift macro sentiment. Ahead of the busy macro schedule in the latter part of the week, traders are unlikely to want to place big bets and so the likes of LUNC may not see much volatility.

LUNC/USD, for what it’s worth, was last changing hands just above $0.00015, just to the north of its 21DMA and up over 10% from last week’s lows just under $0.00014. Bulls are eyeing a test of the 50DMA near $0.00015, a break above which could open the door to a run higher towards the 200DMA just above $0.00018.

Short-term LUNC price predictions are bullish. That’s because, in light of the cryptocurrency’s recent bounce at a key medium-term support level, the technical outlook is looking up. The recent bounce suggests that the bulls are gearing up for a push higher towards the $0.000185-19 balance area. A break above here and the $0.00020 level could unlock the door to a bigger move higher towards early November highs in the $0.00035 area.

In terms of the cryptocurrency’s broader direction for the remainder of the year, there is a chance that