LUNC rises 10% in 7 days, will there be a new rally for Terra Luna Classic?

The price of Terra Luna Classic has increased by 3% in the past hour, and is now at $0.00009746. This rise comes as the wider cryptocurrency market remains subdued due to the recent SEC actions against blockchain and Binance.

Over the past seven days, the price of LUNC has risen by more than 10%, and by 15% in the past month.

The altcoin had been undervalued and oversold for several weeks, making a recovery rally long overdue.

This rally may also be helped by new proposals to improve the Terra Luna Classic network and re-peg the USTC stablecoin, which could push LUNC’s price to new heights this year.

Terra Luna Classic Price Prediction as LUNC Pumps Up 10% in 7 Days – Is a New Rally Starting?

LUNC’s chart is in a very promising position, with its technical indicators rising again after recently hitting bottoms.

A few days ago, the altcoin’s 30-day moving average (yellow) climbed over its 200-day average (blue), forming a ‘golden cross’ that can signal breakouts, which seems to be happening here.

At the same time, LUNC’s relative strength index (purple) has just risen above 50, leaving behind the SEC-induced losses of the past two days and regaining some promising momentum.

The cryptocurrency’s position is also strengthened by the fact that its support level (green) is now rising again, enabling it to consolidate around ever-higher bottoms as it steadily rises over the medium-term.

In terms of fundamentals, there is no major reason why LUNC should be rallying now, with its gains happening more because it had been sold so heavily in recent months.

The Terra Luna Classic community continues to vote on proposals to improve LUNC’s price and upgrade its network, efforts which have helped to support the altcoin and drive its movements in the past few days.

One proposal (#11563) would re-establish the Terra Luna Classic’s use of Inter Blockchain Communication (IBC) channels, enabling it to improve its interoperability with other blockchains and thereby increase its overall utility.

Another recent proposal concerning a test environment for re-pegging USTC passed on June 5, providing a significant reason as to why LUNC’s price is looking healthier right now.

While the acceptance of this proposal will result only in the testing of possible re-pegging scenarios, it may end up being a very important step on the road towards returning USTC to $1, as well as towards boosting LUNC’s price.

LUNC could easily rise back up to $0.0001 in the next few days or weeks, before potentially reaching $0.0002 by the end of the year.

If a concrete re-peg plan is put into effect, then next year could bring even bigger gains for LUNC, enabling it to lose one or two decimal places.

Buy Terra Luna Classic Now

New High-Potential Altcoin

While the chronic undervaluing of LUNC could ultimately result in big gains somewhere down the line, the slowness of the Terra Luna Classic community’s progress in executing plans could mean that holders will be waiting a while for a substantial rally.

As such, less patient traders may want to consider newer altcoins that are due rallies in the shorter term, with presale tokens in particular holding out the promise of rallies when they list on exchanges.

This includes Wall Street Memes (WSM), a new cryptocurrency associated with the meme stocks movement, which was responsible for the 2021 GameStop and AMC rallies.

The presale for its WSM token, which has already raised in excess of $5 million, was launched last week. The rapid acceleration through different funding milestones indicates that WSM may end up becoming a very popular meme token with a big and thriving community of holders.

Indeed, the Wall Street Memes Twitter account already has more than 225,000 followers, providing some hint as to how big WSM could become once it lists on exchanges.

Currently, the presale of Wall Street Memes (WSM) is in its tenth stage. Each WSM token costs $0.0277 in this stage, and the price will increase to $0.03370000 by the time the presale reaches its 30th and final stage.

To participate in the presale, investors need to go to the official Wall Street Memes website and connect their crypto wallets.

It is worth noting that the majority of WSM’s total supply, which is two billion, will be allocated to its community. 50% of the total supply will be reserved for the presale, and 30% will be kept for community rewards.

This wide distribution strategy could attract more investors to the community, which may lead to significant rallies for WSM when it is listed on exchanges in the coming months.

Visit Wall Street Memes Now

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