In line with the losses seen in the cryptocurrency market on the first trading day of the week, LUNC, the token that powers the original Terra blockchain, ended up changing hands about 2.6% lower on the day. LUNC/USD last changed hands at around $0.0001650. That means, while the cryptocurrency is still up 10% from its November low of just under $0.00015, it is now down about 13% from its high near $0.00019.
Price Prediction – LUNC to Record High in 2023?
Can LUNC surpass its record high in early September near $0.0006 in December? Probably not, according to recent technical developments. Answer: The first thing to note is that LUNC/USD broke below the main uptrend that has supported it all the way back to June in mid-November. This uptrend has now turned into resistance, as evidenced by the failed attempt to pull back above in early December. This failure suggests a retest of the recent lows in the $0.00015 area is more likely than a rebound to $0.00020.
At the same time, LUNC appears to have established a new downtrend since hitting a record high in September. Assuming the current downtrend remains intact, LUNC looks certain to drop below $0.00015 and head towards $0.00012 this month. Bulls will hope that favorable US economic data (i.e. lower inflation figures) and a less hawkish Fed can lift sentiment in cryptocurrencies and trigger a breakout from this downtrend, but this is not guaranteed.
Ok, so things look bearish in the near term, but what about the long term? Can LUNC return to record highs in 2023? Well, if the cryptocurrency market gets a significant turnaround in risk appetite, which is certainly possible if it is fast, perhaps the fuel recession from the US inflation paves the way for the Fed to start lowering interest rates once again, then the recovery in LUNC should not be discarded. But can LUNC return to its past glory days? It’s impossible.
This will require a large reduction in the existing supply of LUNCs and the possibility of a large recovery in the LUNC ecosystem. In what seems impossible, the ecosystem almost died (i.e. DeFi projects jumped ship) when UST withdrew in May, causing the collapse of the Terra ecosystem. Other cryptocurrencies with a thriving development ecosystem and promising growth in users are candidates to excel in the future crypto bull market, not a sign of a dead ecosystem like LUNC.
Altcoins Offer Faster Returns
Cryptocurrencies have been trading sideways for several weeks now, leading some traders to start looking at alternatives with more potential in the short term. Below are some of the leading presales in the market, allowing investors to get in on the ground floor.
IMPT
Amid the growth in popularity in recent years of environmentally and socially friendly investments, investors looking for green cryptocurrency should consider IMPT tokens. IMPT.io has partnered with thousands of the world’s largest retailers to help offset their carbon footprint and allow users to trade carbon credits on the blockchain.
IMPT has now raised more than $20 million, making it one of the hottest crypto pre-sales in 2022. The token ICO is coming in a few days, so investors who want to take advantage of the discounted pre-sale price should not lose time.
Dash 2 Trading (D2T)
Those interested in investing in a promising crypto trading platform startup should look no further than Dash 2 Trade. The upcoming analytics and social trading platform hopes to take the crypto trading space by storm with its unique features.
These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token list alert system and strategy backtesting tools. The Dash 2 Trade ecosystem will be powered by D2T tokens, which users must purchase and hold in order to access the platform’s features.
Dash 2 Trade is currently holding a token pre-sale at a deeply discounted rate. The D2T token sale recently surpassed $9.5 million. The sale is in its final stages and interest in the project may increase, with the developer releasing a beta version of the platform first.
RobotEra (TARO)
RobotEra (TARO) is a Sandbox-style Metaverse that will allow players to play as robots and participate in the creation of virtual worlds, including land, buildings, and items in other NFT-based games. Due to be launched in the alpha version in the first quarter of next year, it also plans to allow players to connect with other metaverses, in the process of creating a multi-verse where NFTs from different platforms can interoperate.
1 TARO is currently sold for 0.020 USDT (can be purchased using USDT or ETH), although this price will rise to $0.025 in the second stage of the presale. The project has now raised over $521K in funding in the weeks since its pre-sale launched.
