Terra Luna Classic Price Prediction as LUNC Pumps Up 48% From Recent Lows – $1 Incoming in 2023?

cryptonews.com:

LUNC, the ticker for the Luna Classic cryptocurrency that powers the original, but now largely defunct Terra blockchain, is up an impressive more than 40% from the lows it printed back in December under $0.00013.

LUNC/USD was last changing hands in the $0.00017s, a little under recent highs in the $0.00019s, with the bulls still struggling to push the cryptocurrency back to the north of its 100 and 200-Day Moving Averages.But short-term price predictions remain cautiously optimistic, with the cryptocurrency’s near-term technical outlook fairly positive.Earlier this month, LUNC/USD broke to the north of a longer-term downtrend that had been capping its price action going all the way back to early October.

The cryptocurrency also appears to be in an upwards trend channel that has been in play since mid-December.Meanwhile, though the 100 and 200DMAs are still providing resistance, LUNC’s 50 and 21DMAs are now providing support.

The general technical picture thus suggests that a buying pressure is building and a break above the 100 and 200DMAs is a possibility.