After experiencing a slight pullback on Monday, LUNC has resumed its upward trajectory. The cryptocurrency has seen a significant increase in value, with a double-digit percentage rise in the past day, pushing its price back over the $0.0001 mark. As the momentum continues, CoinCodex’s machine learning algorithm has offered a forecast for when LUNC’s price may hit $0.0005.
LUNC’s Journey to $0.0005: A Timeline
CoinCodex’s machine learning algorithm remains optimistic about LUNC’s future price, although it suggests that reaching the $0.0005 milestone is not imminent. The algorithm’s predictions for the next five days and the following month both indicate a price level of $0.000118, with little fluctuation expected.
However, the algorithm projects a longer-term view that LUNC’s price could surpass $0.0005 by 2028. That same year, it also anticipates a potential dip to as low as $0.000049. The highest predicted price within the next seven years, until 2030, is $0.000504, after which a significant downturn is expected, potentially adding six zeros to its current value.
Regarding market sentiment towards the digital asset, the outlook remains predominantly positive with 22 indicators signaling bullish and 11 bearish, resulting in a bullish sentiment index of 67% versus a bearish 33%.
LUNA Classic’s Remarkable Market Performance
LUNC’s price surge has extended into Wednesday morning, achieving nearly a 30% increase from its Tuesday low. This positions LUNC among the market’s top performers, trailing only behind SEI network and USTC in terms of gains.
This price increase coincides with a decrease in LUNC’s trading volume. CoinMarketCap data indicates a roughly 20% drop in daily trading volume, suggesting reduced selling activity and leaving buyers to push the price higher.
Currently, LUNC is trading at $0.0001222, marking an approximate 30% rise within 24 hours. If the selling pressure continues to ease, LUNC’s price could potentially breach the $0.00015 mark before the day ends.
Simultaneously, USTC, LUNC’s counterpart, has experienced an impressive 50% surge in a single day. This rally may be attributed to a recent community proposal aimed at restoring both tokens to their former prominence.
Source: bitcoinist.com