Terra Luna’s price barely changed today, rising 0.5% in the last 24 hours and reaching $1.33. This marks a drop of 3% in a week and 20% in a month, with the altcoin settling into a bearish pattern that shows no obvious signs of ending anytime soon.
LUNA is the newest altcoin running on the Terra 2.0 blockchain, which was launched following the infamous Terra Collapse that occurred last May. And given that much of the community-driven activity seems to be focused primarily on the old Terra Luna Classic network, it’s hard to imagine how LUNA can enjoy a big rally towards $100 in the future. close, especially when no longer tied to an algorithmic stablecoin that would increase its price.
But in the world of cryptocurrency, anything is possible and prices can soar much higher than expected. With that in mind, here’s where LUNA is heading next.
Terra Luna Price Prediction – Can LUNA Recover to $100 in 2023?
LUNA’s indicators are somewhat mixed at the moment, with its relative strength index (purple) now dropping below 60 after hitting 70 at the very start of the year. Likewise, its 30-day moving average (red) is hovering around its 200-day moving average (blue), implying that it could easily go either way.
LUNA’s price history has more or less been down since its launch as part of Terra 2.0 in late May. It reached (an all-time high of) $18.87 on May 28, but since then has fallen 93%, with observers wondering if a new LUNA without an algorithmic stablecoin would have fundamental value.
So far, it looks like such criticism is on point since not much has happened with Terra 2.0 since founder Do Kwon launched it in the early summer. The developers proposed in October to adopt a four-year plan that would boost the growth of Terra 2.0 by reserving LUNA for development, but nothing has been heard about it since.
Likewise, a recent proposal to create a bridge between Terra Luna Classic and Terra 2.0 (so that LUNC and LUNA could be interchanged) seemed to be very unpopular with much of the Terra Luna Classic community.
As such, there isn’t really a realistic expectation that Terra 2.0 will see organic growth and adoption in the near future, and that LUNA will rally accordingly. Instead, traders should expect it to hover around its current level until the next bull market arrives, and should also prepare for further losses.
This is especially the case when Terra 2.0 is so strongly associated with Do Kwon, who remains a fugitive. It’s entirely debatable that serious developers and investors don’t want much to do with a project whose main founder and figurehead could be in jail for the foreseeable future.
Other Altcoins with better opportunities
Given how risky investing in LUNA can be, traders may prefer to look to other altcoins that don’t have as much baggage and have more promising fundamentals. Also, while the market remains bearish, one way to beat it was to invest early in presales, which had a great 2022.
For example, Tamadoge (TAMA) is up 1,800% from its presale price in October, when it was listed on OKX. This performance was led by Lucky Block (LBLOCK), which saw a 6,000% increase in February, from a sale price of $0.00015.
Hoping to match these returns, the three coins below are currently seeing their own respective presales, each benefiting from very strong fundamentals and promising business models.
Running on Ethereum, Fight Out (FGHT) is a new move-to-win app that combines real-world workouts with Web3. Going beyond the model set by early M2E platforms such as STEPN, it tracks and rewards a wide range of workouts, including boxing, weightlifting and yoga, while also offering a range of integrated classes and IRL at its own branded gyms.
Launched last month, its token sale has already raised over $2.6 million, with 1 FGHT currently open for $0.0166 (this will increase in later stages of the sell-off). Investors can participate by going to its website and connecting their Connect Wallet or MetaMask wallets.
Visit FightOut now
Trade Dash 2 (D2T)
Another Ethereum-based platform, Dash 2 Trade is a trade intelligence application that will launch in the coming months, when it will provide real-time analytics and social trading data. It offers investors of all experience levels all the resources and tools they might need to make more informed trading decisions.
The sale of its D2T token raised over $13.1 million and should end in just two days. It also announced listings on BitMart, Changelly Pro and LBANK Exchange for early 2023, with the first scheduled for January 11.
Visit Dash 2 Trade now
C+Charge (CCHG) is a new peer-to-peer payment system for electric vehicle (EV) charging stations, whose main objective is to widen access to carbon credits. Operating on BNB Chain, it launched the sale of its native CCHG token before the end of 2022, with CCHG to be used within its network by owners of electric vehicles to pay to charge their vehicles.
C+Charge will also reward users with carbon credits for charging their electric vehicles at its stations, while the platform has already signed an agreement with Perfect Solutions Turkey, adding 20% of electric vehicle chargers in Turkey to its network. This signals its early promise and shows how serious it is about becoming a global leader in electric vehicle charging.
Visit C+Charge now