In tandem with the downside being seen across cryptocurrency markets on the first trading day of the week, LUNC, the token that powers the original Terra blockchain, was last changing hands around 2.6% lower on the day. LUNC/USD was last changing hands around $0.0001650. That means that, while the cryptocurrency is still up 10% versus its November lows under $0.00015, it has now receded around 13% from its recent highs near $0.00019.
Price Prediction – LUNC to Record Highs in 2023?
Can LUNC surpass the record highs it hit back in early September near $0.0006 in December? Probably not, according to recent technical developments. The first thing to note is that LUNC/USD broke below a key uptrend that had been supporting it going all the way back to June in mid-November. This uptrend has now turned into resistance, as evidenced by a failed attempt at pushing back above it in early December. This failure suggests a retest of recent lows in the $0.00015 area is more likely than a rebound back towards $0.00020.
LUNC recently broke above a long-term uptrend. Source: TradingView
At the same time, LUNC appears to have formed a new downtrend since reaching record highs in September. Assuming the current downtrend remains intact, LUNC looks on course to fall under $0.00015 and head towards $0.00012 this month. Bulls will be hoping that if favorable US economic data (i.e. lower inflation numbers) and a less hawkish-sounding Fed can lift sentiment in cryptocurrencies and trigger a breakout of this downtrend, but that is by no means a guarantee.
LUNC is now in a clear downtrend and looks headed towards $0.00012 this month. Source: TradingView
Ok, so things are looking bearish in the near term, but what about the long term? Can LUNC return to record highs in 2023? Well, if cryptocurrency markets experience a significant turnaround in risk appetite, which is certainly a possibility if a rapid, perhaps recession fuelled from in US inflation paves the way for the Fed to start lowing interest rates once again, then a recovery in LUNC shouldn’t be ruled out. But can LUNC return to its past glory days? Unlikely.
That would require a massive reduction in the existing LUNC supply and likely a huge recovery in the LUNC ecosystem. That seems unlikely, the ecosystem pretty much died (i.e. DeFi projects jumped ship) when UST depegged back in May, causing the collapse of the Terra ecosystem. Other cryptocurrencies with thriving development ecosystems and promising growth in users are the likely candidates to outperform in a future crypto bull market, not the token of a defunct ecosystem like LUNC.
Altcoins Offering Quicker Returns
Cryptocurrencies have been trading sideways for a few weeks now, leading some traders to start looking at alternatives with more potential in the short term. Listed below are some of the leading presales in the market, allowing investors to get in on the ground floor.
Amid the growth in popularity in recent years of environmentally and socially friendly investments, investors looking for a green cryptocurrency should consider the IMPT token. IMPT.io has partnered with thousands of the world’s largest retailers to help offset their carbon footprints and allows users to trade carbon credits on the blockchain.
IMPT has now raised over $20 million, making it one of the hottest crypto pre-sales of 2022. The token’s ICO is coming up in a few days, so investors wanting to take advantage of the discounted pre-sale price should lose no time.
Dash 2 Trade (D2T)
Those interested in investing in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hopes to take the crypto trading space by storm with its host of unique features.
These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy back-testing tool. Dash 2 Trade’s ecosystem will be powered by the D2T token, which users will need to buy and hold in order to access the platform’s features.
Dash 2 Trade is currently conducting a token pre-sale at highly discounted rates. D2T token sales recently surpassed $9.5 million. The sale is in its final stage and interest in the project could soon spike, with developers on the cusp of releasing a beta version of the platform ahead of schedule.
RobotEra (TARO) is a Sandbox-style Metaverse that will enable gamers to play as robots and participate in the creation of its virtual world, including NFT-based land, buildings, and other in-game items. Due to launch in an alpha version in the first quarter of next year, it also plans to let players link up with other metaverses, in the process creating a multi-verse where NFTs from different platforms can interoperate.
1 TARO is currently selling for 0.020 USDT (it can be bought using either USDT or ETH), although this price will rise to $0.025 in the second stage of its presale. The project has now raised more than $521K in funds in the few weeks since the launch of the pre-sale.
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