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Classic LUNA Price Predictions With LUNC Poised for 20% Losses

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Terra Luna Classic (LUNC) price has closed in a downtrend for the past few weeks amid the cryptocurrency market downturn. Subsequently, Luna classic price It fell below the $0.00013 level during the second week of November. At its lowest point, LUNC fell nearly 77% from its September high, causing its market capitalization to drop to around $970 million and placing the token at number 43 on CoinMarketCap’s list of largest cryptocurrencies.

High burn rate of the classic LUNA device

Terra’s relic, Terra Luna Classic, has become a popular cryptocurrency over the past few months despite the ecosystem crash in May. Notably, the performance of LUNC was relatively better compared to the version supported by Do Kwon, Terra 2.0.

Among the reasons behind the increasing popularity of Luna Classic is the current burn rate where tokens are placed in an inaccessible vault. Binance introduced a new 1.2% burn tax on LUNC tokens, which sent the price of Terra Luna Classic up by 500% in September. Over 18.4 billion LUNC coins were burned in November alone, up significantly from the 18.3 billion in October and the 4.2 billion burn in September.

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Another important catalyst for Terra Luna Classic is the increase in the number of titles, which rose to more than 11,851 in November. This was higher compared to the 11,615 recorded in late October 2022. The uptick was significant given that the cryptocurrency market was in turmoil after FTX cryptocurrency exchange collapse and its sister company, Alameda Research.

LUNC is set to take the plunge as the FTX infection continues

In light of the recent FTX saga, the entire crypto market has suffered, driving down the price of LUNC in the process. As seen on the daily chart (below), LUNC price has been on a downward trajectory posting higher highs and lower lows during mid-October and throughout November.

The daily chart indicates a significant breakdown of LUNC price in November, before it retreated and formed a bearish parallel pattern. In technical price analysis, this pattern forms when the price of an asset records a series of lower highs and lower lows over a long period of time – usually more than two weeks. It is usually considered to be a very bearish technical formation over the long term, which indicates that prices are declining.

LUNC price is down almost 10% in the past 14 days as all indications point to a continuation of the downtrend despite the LUNC token’s ongoing burn. At the time of writing, LUNC is trading at $0.00016307 at Queen Gekkoup 0.4% over the past 24 hours but down by more than 32% over the last 30 days.

In the past 24 hours, LUNC recorded trading volumes of more than $66 million, which is less compared to the daily trading in the past month, such as November 17 when it recorded up to $159 million in daily trading volume with signs of recovering from the losses around which FTX collapsed. .

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LUNC/USD daily chart

TradingView chart: LUNC/USD

The price of Terra Luna Classic moved below the 100-day and 50-day moving averages (MA), while the Moving Average Convergence Divergence (MACD) indicator moved below the neutral line, which is a sign that the market still favors the downside.

From the chart, there was not much fluctuation in the past month. The Relative Strength Index (RSI) has fallen from 56 at the beginning of November, to reach 36 on December 1, 2022. Over the past seven days, the RSI has moved around 30 at the close, which is a clear indication that the bears may still be stronger than this. bulls

If the bears increase their bids, LUNC price may continue lower to break the support at $0.00015, which is held by the middle border of the descending channel. Further downside could lead the Terra utility symbol down towards the $0.00013 level espoused by the lower bounds of the prevailing chart pattern. Such a move would result in losses of 20.49%.

On the other hand, if the bulls can hold the support at $0.00015, they might push the price beyond the resistance at $0.000176, where the upper boundary of the descending parallel channel is. The next potential target for LUNC price will be $0.000215, which is 31% upside.

A decline in LUNC is to be expected recently, since not much development has occurred within the ecosystem. Earlier in the year, the LUNC community looked at reducing supply to manage the epic drop in price, but this hasn’t worked, because the amount being pulled from supply is low.

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In addition, the price of LUNC is still declining, indicating that the entire cryptocurrency market is still suffering from the repercussions of the FTX crash, and adding this to a prolonged bear market, the conditions remain hazy until the entire market recovers.

Consider buying these altcoins today

If you are considering ways to diversify your portfolio amidst the current uncertainty in the cryptocurrency market, you should probably take a look at projects that are still in their infancy so that you understand their basics before diving in. Dash 2 Trade and IMPT offer some of the best pre-sales of the year, and have huge potential for significant gains for early investors.

Dash 2 Trading

Dash 2 Trading It stands among the most promising cryptocurrency projects to invest in right now. It comes in the form of a new cryptocurrency analytics platform where users can trade in cryptocurrencies while getting in-depth analyzes about that cryptocurrency and others in the market.

The native currency of the Dash 2 Trade platform is the D2T token. Users can use a D2T token to sign up and access platform dashboard metrics. The token is currently in its third pre-sale phase, with one D2T token going for 0.0513 USDT. It is making coveted moves so far with 87.64% already sold. If you are looking for a cryptocurrency that is trending right now, D2T is the right choice and a great opportunity for early investors.

As of November 25, the project has reached another milestone, recording $7 million in sales.

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To date, more than 70,000 traders have already signed up for the Dash 2 Trade project. The platform intends to create a dashboard with various features and technical indicators. Through these infrastructures, traders will be provided with valuable data about the specific cryptocurrency they choose to invest in.

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IMPT

Another promising investment IMPTand a green crypto project and market for carbon credits. IMPT features a large ecosystem of socially responsible companies brought together by their common need to reduce carbon emissions.

The project’s native token is IMPT, which the user can use to mine non-fungible tokens (NFTs). As of the time of writing, the IMPT token is at Presale 2, which makes it an ideal time to invest as the prices are as low as 1 IMPT for $0.023.

As a marketplace for blockchain-based carbon credits, IMPT provides participants with a means in which each carbon credit is minted as an NFT and recorded on the blockchain. As such, all elements of cheating or double counting have been eliminated.

Users can engage in many activities, including trading, keeping or burning their carbon credits to offset their carbon emissions.

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Blockchain

BNT/USD is trading near the $0.50 resistance

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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.

Bancor Prediction Statistics Data:

  • Bancor price now – $0.34
  • Bancor’s market capitalization is $55.8 million
  • The circulating supply of Bancor – 162.5 million
  • The total supply of Bancor – 162.5 million
  • Bancor Coinmarketcap Ranking – #287

BNT/USD market

Key levels:

Resistance levels: $300, $310, $320

Support levels: $130, $120, $110

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BNTUSD – daily chart

BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.

Bancor Price Prediction: Bancor is preparing for an upward movement

According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.

However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.

Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.

BNTBTC – Daily Chart

However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

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Dash 2 Tadawul – High Potential Pre-Selling

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  • Featured in Cointelegraph – $10 Million Raised
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  • The original code for the crypto signals ecosystem

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DYDX/USD could rise above $1.20

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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.

dYdX prediction stats data:

  • DYDX price now – $1.10
  • DYDX market capitalization – $72.7 million
  • Circulating supply of DYDX – 65.5 million
  • Total supply of DYDX – 1 billion
  • DYDX Coinmarketcap Rank – #198

DYDX/USD Market

Key levels:

Resistance levels: $2.00, $2.20, $2.40

Support levels: $0.50, $0.30, $0.10

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DYDXUSD – daily chart

DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.

dYdX Price Prediction: DYDX is ready for an uptrend

the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.

Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).

Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.

DYDXBTC – Daily Chart

Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

Related

Dash 2 Tadawul – High Potential Pre-Selling

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Dash 2 Trading
  • Active pre-sale is live now – dash2trade.com
  • Featured in Cointelegraph – $10 Million Raised
  • Know Your Customer verified and reviewed
  • The original code for the crypto signals ecosystem

Dash 2 Trading


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SBF to Enter Plea Deal, Mango Exploiter Arrested, Celsius News: Hodler’s Digest, Dec. 25-31

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