Terra Luna Classic Price Prediction as LUNC Spikes Up 3% – Here's Where LUNC is Heading Now?

cryptonews.com:

The price of Terra Luna Classic (LUNC) has risen to $0.00013313 today, with the coin rising by as much as 3% in the past 24 hours after a big market-wide rally yesterday.

Despite yesterday's gains, LUNC's current price makes for a 6% loss in the past week and a 19% fall in the last 30 days, at a time when major tokens (e.g. BTC and ETH) are up within the same timeframes.

However, yesterday's rally underlines the possibility of further gains for LUNC, which is already up by just over 13,000% relative to its all-time low set in May 2022 of $0.000000999967.

And with plans to re-peg sister stablecoin USTC to $1 under development, it could be only a matter of time before large quantities of LUNC are burned, causing the altcoin's price to surge.

LUNC's chart reveals some promising indicators, with both its relative strength index (purple) and its 30-day moving average (red) doing some interesting things at the moment.

Namely, its 30-day average has begun rising steeply towards its 200-day (blue), and if the shorter average overtakes the longer, the coin could be in for a breakout.

Likewise, LUNC's RSI has jumped to 70 in recent days, having been under 30 in the past week, indicating overselling.

While it has dipped in the past few hours, it's still hovering around 60, indicating some decent upwards momentum.

The key resistance level for LUNC here is $0.000135: if it can make a clean break through this price, it could be in for further gains in the coming days.

Given how poorly LUNC has performed in the past week and month, there's an argument to the effect that it's currently oversold and undervalued and could therefore rally substantially in the next few weeks.

This suspicion is reinforced by ongoing efforts to burn LUNC and boost its