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Terra Luna price forecast for 2023

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The price of Terra Luna has fallen from its peak around $120 in April 2022 to barely a hundredth of a cent, sending shock waves through the cryptocurrency market. After the collapse of Terra’s alsgoritmic stablecoin UST and its sister token LUNA, Terra LUNA was then baptized with TerraLUNA Classic (LUNC) with a circulating supply of 6.014 trillion in an effort to salvage what was left of the ecosystem. This led many people to wonder how different the new LUNA coin under Terra Luna 2.0 would be from the original.

At the time of writing, LUNA price was trading at $0.000149, having gained 1.66% in the last 24 hours. The current market cap of LUNA coin is $890 million, which puts the cryptocurrency at number 39 on CoinMarketCap with a 24-hour trading volume of $106.7 million.

Terra Luna ecosystem

The native token of the Terra blockchain is LUNA. A Korean company called Terraform Labs, which raised up to $32 million in a private sale of LUNA coins to fund the project, is developing the blockchain. The sources of investments included central institutions such as Binance, Huobi, OKEx, and others.

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At the core of the Terra blockchain has been the creation of logarithmic stablecoins — tokens essentially designed to combine the property of cryptocurrency’s decentralized freedom with the stability surrounding fiat money. Accordingly, LUNA became a pivotal part of this system and was described as staking or tokenization protocol.

To achieve this goal, the Terra blockchain introduced a dual token system between the TerraUSD stablecoin (UST) and LUNA, with the stablecoins (UST) minted via LUNA burning or LUNA swaps.

In principle, the idea was that if the value of UST rose above $1, an equivalent value of LUNA would be burned, thus minting more UST and in the process, reducing its value. In addition, supposing the price of UTs falls below $1, the stablecoins will be exchanged for LUNA, thus increasing the value of UTs. This is how the treasuries were supposed to maintain their peg to the dollar 1:1.

Prior to the Terra ecosystem crash in May 2022, the circulation of LUNA coins was limited to $1 billion with the criteria that if this number was exceeded, the LUNA would be burned. As of Dec. 31, the original LUNA offering, now named Terra Luna Classis (LUNC), is $6 trillion, according to data from CoinMarketCap.

Will Terra Luna Price Recover in 2023?

Terra Luna, now Terra Luna Classic (LUNC) has been scrabbling since the ecosystem collapse and the Terra community has been actively working in hopes of restoring the glory of the lost token. Although a rollback from past price values ​​is a pipe dream, the team’s current goal is to restore investor confidence in the ecosystem.

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As part of these efforts, Terra Labs is attempting various interventions, including partnering with the largest crypto exchange Binance in a joint venture set to reduce the circulating supply of the token.

As such, the exchange has implemented a burn program whereby 100% of spot and margin fees are burned through Wednesday. Based on recent developments, the figure has been reduced to 50%.

Since the crash, Terra Labs has strived to regain community support, and while the Binance collaboration inspires some confidence, there is a lot more that needs to be done before Terra can muster a following as huge as it once was. If this happens, hope is revived that LUNA price will reach the $1 mark.

LUNA/USD daily chart

TradingView chart: LUNA/USD

Based on the daily chart (above), the LUNA/USD pair at $0.000149 is blinking green in a choppy market after the bulls outmaneuvered the bears in today’s trading session.

LUNA price is currently fighting the resistance provided by the 9-day simple moving average (SMA). If the bulls can build up buying pressure to turn this barrier into support, then LUNA price will head to the next key area at $0.00017, which has proven to be a formidable hurdle in the past.

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In very ambitious cases, buyers can push the price to target the $0.00019 high range, but it depends if they can turn the above stubborn resistance into support.

This positive view has been supported by The Moving Average Convergence Divergence (MACD), although flat, is sloping upward towards the neutral line. In the same way, the Relative Strength Index (RSI) started pointing higher, indicating that more buyers are entering the market and they are determined to push the price of Terra Luna higher.

On the other hand, if the bulls fail to break the 9-day SMA barrier, LUNA price may record more losses, starting from losing the support at $0.00014, and if the push happens, a retest of the local low at $0.000126 is likely. .

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FightOut (FGHT)

FightOut is a Web3 fitness app and is the current all-in-one app in both the crypto and non-cryptocurrency spaces. Although still in the early stages of its development, FightOut has amassed a large following, which is attributed to real-world blockchain use cases.

Contrary to what most cryptocurrency projects offer, including promises of flimsy money-making schemes, FightOut explores the true potential of blockchain technology and makes it so that every user can connect with it.

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As an App for Earning (M2E), FightOut rewards users when they exercise whether it be in the gym or at home. The project makes it easy for users to complete their fitness goals by tailoring workouts to their interests and abilities.

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The pre-sale is a good time to invest in the FightOut ecosystem, as it comes with a limited-time bonus.

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Make sure to invest in the early stages of the FightOut pre-sale to be among the first investors to book the highest returns. With the project acquiring multiple gym websites, hosting FightOut Ambassadors, and hosting state-of-the-art training programs as defined in the whitepaper, FGHT Tokens are expected to claim anywhere from $25X-50X in revenue in 2023. Don’t miss out!

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RobotEra

RobotEra is the eagerly awaited metaverse creator game for hobbyists and enthusiasts in the cryptocurrency gaming space. The game is inspired by themes from The Sandbox where players have the opportunity to develop a metaverse set on the planet Taro. As can be deduced from the name of the game, the planet Taro is dominated by robots.

RobotEra also has an initial offering that has already raised over $637,000. The pre-sale of TARO offers the cheapest entry into RobotEra, and no one should miss such an opportunity to book huge winnings.

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Related news:

FightOut (FGHT) – the latest money-making project

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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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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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