Terra Luna Classic Price Slips To $0.00014 – Is This The End Of The Road For LUNC?

Terra Luna Classic price is hanging on a loose thread as declines become unstoppable with each passing day. The much publicized 8 billion token burn by Binance, the largest crypto exchange by traded volume and the largest holder of LUNC last week, failed to revamp the uptrend.

Contrary to what many investors were looking forward to last week, Terra Luna Classic price extended the downtrend below $0.00015 and tested support at $0.00014. The pressure building on top of LUNC spilled into the new week with a 1.55% loss in 24 hours to trade at $0.0001455 at the time of writing.

LUNC price stopped the early year rally that was bolstered by a community resolution to restore USTC’s dollar peg at $0.00021. This intense overhead pressure started to brew in early February with analysts mainly attributing it to profit booking.

However, conditions in the crypto market were not conducive to the continuation of the uptrend, leaving Terra Luna Classic price in a tailspin freefall. Initially, LUNC took refuge above $0.00016, although its upside was limited to under $0.00018.

For more than three weeks, LUNC consolidated in this range, but bulls were forced to let go of support at $0.00016 last week as regulatory pressure from the United States left the crypto market unstable for most of February.

Major cryptocurrencies like Bitcoin and Ethereum tested key support areas at $22,000 and $1,550 respectively amid another looming entity fall. Silvergate, one of the few crypto-friendly banks in the US reported a weakening capital position, which sent panic across the market.

Key companies that have been banking with Silvergate immediately started to jump ship afraid of another contagion spreading. Coinbase Kraken and Galaxy Digital among other crypto firms said that they will no longer initiate or accept transactions to and from Silvergate.

Meanwhile, Terra Luna Classic price upholds support at $0.00014 while trading at $0.0001455. Although a green four-hour candle is forming, it is not clear if LUNC can sustain a trend reversal, considering the mundane trading across the crypto market.

Day traders are likely to be interested in short positions in LUNC to take advantage of the seemingly unending downtrend. However, it would be advisable to wait until Terra Luna Classic price confirms movement below the seller congestion at $0.00014 to avoid sudden bear traps.

Is There Light At The End Of The Tunnel For Terra Luna Classic?

Investors cannot rule out the possibility of a sharp trend reversal from the liquidity at two key levels: The immediate support at $0.00014 and the next buyer concentration zone at $0.00013.

Depending on how the market reacts to the incoming economic data like the Consumer Price Index (CPI) and the Federal Reserve decision on interest rate hikes later in March, retail traders may resolve to take positions from $0.00014 and $0.00013.

Experts believe that a weaker US dollar and lower interest rates would be catalytic for a Bitcoin price rally to $25,000 and $30,000. A bullish BTC could flip the entire crypto market’s perspective positively and set the mood for the coming few months.

That said, Terra Luna Classic price could take advantage of a bullish Bitcoin to reestablish its position above the Q1 2023 point of control at $0.00021.

A careful study of the Moving Average Convergence Divergence (MACD) indicator shows that a buy signal could soon emerge. With this call to buy, retail investors may change their minds about selling LUNC in favor of booking long positions in the token.

Key indicators to look forward to are the MACD line in blue crossing above the signal line in red. A continued movement of the momentum indicator toward the mean line at 0.00 would also call on more investors to back a Terra Luna Classic price rally.

Entries placed above support at $0.00014 could soon be cashed out at $0.00015, where LUNC price is expected to face resistance from the dotted trendline. Similarly, a break and hold above the same level could be a new entry position for traders looking forward to LUNC reclaiming the position in the range between $0.00016 and $0.00018.

That said, investors can ride the expected Terra Luna Classic price uptrend as they cash out for profit and enter into new positions at the various key points, including $0.00017, $0.00018, and $0.00021.

Terra Luna Classic Alternatives To Buy Today

Before buying the LUNC dip, you may want to check out some of the best crypto presales for 2023. InsideBitcoin reviews the list of the best altcoins to buy, bringing to your attention possible options to diversify your crypto portfolio.

Fight Out (FGHT), one of the leading crypto presales for 2023 surpassed the $5.11 million market. Investors scooping up FGHT tokens before the project lists on the exchanges for the first time on April 5 see potential in the move-to-earn (M2E) sector.

Fight Out is an up-and-coming fitness-oriented ecosystem, tapping the power of Web3 to help people lead healthy lifestyles. Users in the ecosystem also earn in an in-app currency called REPS when they complete daily workouts and challenges.

Every user gets a soulbound NFT which can be used as an avatar to access the metaverse. Soulbound because the NFT cannot be sold, but it grows in tandem with the owner’s fitness progress. Fight Out stands out for eliminating the need for expensive NFTs to access the metaverse and provide community members with personalized fitness programs.

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Similarly, investors may want to diversify their crypto portfolios with Metropoly (METRO), the first NFT marketplace supporting the global real estate industry. The team at Metropoly is tapping the power of Web3 to channel investment in real estate while eliminating third parties like banks.

Fight Out is the bridge between Web2 and Web3, connecting traditional gaming with the power of #Blockchain technology.

Join us in shaping the #PlayToEarn revolution! 👊🚀https://t.co/9pikKGRjSd#Web3 #Crypto #Presale pic.twitter.com/gkEQgq5Qof

— Fight Out (@FightOut_) March 4, 2023

With a minimum of $100, one can buy an NFT and receive a monthly rental income. Investing in real estate through Metropoly cuts the time and process from 60 days to less than 24 hours. So far, METRO’s presale has raised $596k far ahead of the token’s listing on exchanges.

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