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Terra is an open-source blockchain protocol for hosting a dynamic ecosystem of dApps and top-tier development tools.
Terra was developed by Terraform Labs in 2018. Do Kwon and Daniel Shin founded this South Korea-based lab. Terra is also a payments platform for an algorithmic stable coin designed to chase the price of a fiat currency.
Their native token is mainly used for staking while can also be used for governance that allows users to make changes to the Terra protocol.
While Crypto assets are highly volatile and unregulated and this has been seen in their token LUNA which crashed to almost 100 percent and later was converted to lunc.
Terra Luna Classic Price Prediction
Terra Luna Classic (LUNC) recently lost a key support level of $0.000283 which indicates that it may result in continuation to the downside.
Traders would be looking for a potential breakout for Terra Luna Classic and are now targeting the key support levels of $0.000264 and $0.000255.
Bearish chart patterns do not always have to play out by their pattern. Traders can experience fake outs in the crypto market.
Long-term holders of Terra Luna Classic (LUNC) may use a dollar cost averaging strategy at key support levels and buy the red candles as opposed to green.
Terra Luna Classic Short Term Price Prediction
While the price is showing a bullish momentum considering the implementation of lunc burn mechanism, however it is very unlikely to predict lunc price as in order to boost the price lunc would need to have some news such as new big investors and the price of bitcoin which is the actual king of crypto market and dominates the crypto market. It is expected that LUNC may be moving sideways in the short term.
Terra Luna Classic Long Term Price Prediction
Lunc would need to have some news such as new big investors who may be reluctant to put their money in the project considering the previous issue with the luna. Further no project can grow with out the support of their community and strong fundamentals of the project. Therefore in my opinion, I do not expect much from LUNC and it may not be a suitable hold for the long term and rather a risky investment, always do your own research while investing in any coin.
Terra Luna Classic Burning Effect
While many of the users are interested in the burning of the token to reduce lunc price and help increase the price of the token.
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