• Terra Luna Classic (LUNC) is a cryptocurrency that powers the original Terra blockchain protocol.
• Crypto markets are currently in wait-and-see mode ahead of a speech from Fed Chair Jerome Powell.
• Crypto experts predict that if LUNC can break out of its near-term pennant structure to the upside, this could open the door to a potential run higher toward $0.000277.
What is Terra Luna Classic?
Terra Luna Classic (LUNC) is a cryptocurrency that powers the original Terra blockchain protocol, which collapsed in value back in May 2022 after algorithmic stablecoin Terra UST lost its 1:1 peg to the US dollar. Currently, LUNC/USD is changing hands just above $0.00018 and seemingly in a medium-term uptrend since its mid-December lows.
Crypto Markets Await Speech From Fed Chair Jerome Powell
Cryptocurrency markets are currently in wait-and-see mode ahead of an upcoming speech from Fed Chair Jerome Powell that could trigger fresh volatility after last week’s more dovish-than-expected Fed policy meeting.
Analysts Predict Potential Run Higher For LUNC
Popular crypto technical analysts Mind Math Money and Crypto King both speculate that if LUNC can break out of its near-term pennant structure to the upside, this could open the door to a potential run higher toward $0.000277 or even higher in some cases. Furthermore, Crypto King highlighted how he expects as much as 1 trillion LUNC tokens to be burnt in the coming years, which would lead to deflation of the LUNC supply and potentially drive prices even higher over time.
Is It Too Late To Buy Terra Luna Classic?
Asking whether it’s too late to buy an asset is never the right question as there will always be opportunities for making profits regardless of when you decide to invest or trade an asset such as Terra Luna Classic (LUNC). The right question should rather be whether investing or trading on this asset makes sense based on current market conditions and investor goals and risk management needs.
In conclusion, there remains bullish sentiment surrounding Terra Luna Classic (LUNC), with analysts predicting good returns for those who decide to invest or trade on this asset at present times given current market conditions. However, investors should always remember to perform their due diligence before making any decisions related with their investments and also factor in their risk management needs prior investing or trading any asset such as LUNC.