Altcoins

Terra (LUNA) 2.0 Price Spikes Along with LUNC, This May be the Target For the Weekend!

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Jun 3, 2022

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As the weekend is approaching fast, the crypto space again began to gear up to recover the recent losses. BTC price is again above the crucial level of $30,000 and hence most of the altcoins have also geared up. Therfore, assets that took both post the infamous UST(now USTC) de-peg, LUNA 2.0 price surged by nearly 10% from the previous day’s close. Hence, displaying the possibility to maintain a significant bullish trend until the weekend. 

On the other hand, ever since the air-drop of new LUNA tokens, the prices have not showcased a significant upside movement. And hence now it appears that the traders currently have shifted their focus on other assets, mainly Bitcoin and Ethereum. Therefore, is there any chance of a steep recovery for LUNA price or will it be presumed as ‘Dead’?

luna

It is pretty evident from the chart that the traders are now moved out of this asset and hence there is negligible volatility. Most of the traders just liquidated the tokens they received in an air-drop, just within 30 minutes. And since then, no notable buying and selling are been recorded. Therefore, one cannot expect a steep surge as it underwent on the day of the airdrop. But the asset may continue its swing within the narrow braces but may remain below $9 for a pretty long time. 

LUNA Classic Price Prediction, What-in for the Weekend?

On the other hand, the TerraClassic (LUNC) was also deeply impacted by the air drop. The price fell drastically by 35% on the day of the airdrop. And since then utilizing all its resources to regain the lost levels above $0.0001. 

lunc

However,  the LUNC price is displaying some diverse momentum as the prices appear to have reached the apex of the consolidation. And hence as the asset is currently within a very crucial zone, the price action may undertake any direction or else extend the consolidation. Therefore, no such significant price movement may be witnessed in LUNA 2.0 price or LUNC price until the weekend ahead. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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