Terra luna on cryptocurrency exchange market . A cryptocurrency is a digital or virtual currency that uses cryptography for security
Since August 22, Terra Luna Classic’s price has been in an aggressive push to the upside, which has seen its price surge by 70 per cent.
The recent price gains come amidst reports that the platform will upgrade its LUNC validators after the decision passed a resolution to improve the network to v0.5.22. The decision will see all validators upgraded before the network reaches the block height of 9,109,99. Last week’s upgrade announcement was received positively, which saw the crypto jumping by 19 per cent within 24 hours on August 26.
In today’s trading session, Luna Classic is up by 12 per cent. The trend also looks aggressively bullish, showing signals that we might see the crypto rising further. The current trend is an extension of an aggressive bullish trend which started on August 12 that has resulted in prices surging by 70 per cent.
The current bullish move has gone against the general trend of the cryptocurrency industry, which is currently in a bear market. The trend has also seen Luna Classic price trade above the $0.00013 resistance level.
Therefore, I expect the prices to continue rising regardless of what happens with the rest of the industry. There is a high likelihood that, even in today’s trading session, the prices will close higher. In the next few trading sessions, my Terra Luna price prediction expects the prices to trade above the $0.00017 price level. There is a high likelihood, based on the current momentum, that we may see Luna classic trading above the $0.0002 price level before mid-September.
The only thing that is likely to affect the current aggressive push to the upside is the negative news cycle, especially since Terraform labs, the company behind the cryptocurrency, is being investigated by the Korean government. Should the development of the case be negative, then my bullish analysis will be invalidated. We might also see prices starting to move downwards.
This post was last modified on Aug 30, 2022, 14:59 BST 14:59