By The Terra Luna Classic price has shot up by 13.5% in the past 24 hours, reaching $0.0002135 as the crypto market as a whole remains static today.
LUNC has now rallied by close to 70% in the past seven days, with the alt also recording an 89% gain in a month.
Yet, with the coin up by only 46% in a year, it’s clear that it still has space for further gains in the near future.
It has also taken support from Do Kwon’s recent success in avoiding extradition to the US, something which may bode well for the future of LUNC.
Terra Luna Classic Price as LUNC Rallies 70% in 7 Days – $1 LUNC Possible?
Based on LUNC’s chart, it’s possible that LUNC may now correct a little before rallying again, with some of its indicators suggesting a loss of momentum.
In particular, its relative strength index (purple) has declined from 70 a few days ago to just under 60 today, with the direction being downwards.
Source: TradingView
On the other hand, LUNC’s 30-day average (yellow) continues to rise steadily and outpace its 200-day (blue), indicating that it remains with a growth phase.
It’s also encouraging that its trading volume has risen to $800 million in recent days, up from only $35 million as recently as last week.
#LUNC • Wonderful cup and handle in progress. The (under)water level is also present . Congratulations if you bought below
And if you don’t DYOR and act as you want.
Now you know. Let’s wait !#LuncCommunity
PS: Never trust anyone. No financial advice. pic.twitter.com/ZJaukWTbAo
— fleurialcom (@fleurialcom) March 6, 2024
While it may dip in the next few days, LUNC is indeed likely to continue gaining in the medium-term, with the increasingly bullish market being the main reason.
Indeed, Bitcoin’s recent gains are steadily helping to instigate an alt season, which usually tends to follow from every historical bull market.
As such, LUNC is likely to be part of any market-wide rally, while it also has some fundamental reasons to be optimistic.
As noted above, a court in Montenegro has overturned an earlier approval of his extradition to the US, something which has improved the market’s overall attitude towards LUNC.
Terra Luna Classic also continues to grow in terms of its recovery as a blockchain network and ecosystem, with a new governance proposal from Genuine Labs set to introduce several technical improvements, some of which relate to Cosmos interoperability.
New proposal 12088 from @genuine__labs this is summary:
-SDK 0.47
-IBC Go 7
-Wasmd 0.45
-Upgrade Comet BFT
-IBC hooks & PFM
-Upgrade handlers
-mainnet & testnet
Time 6 weeks, cost $30k. Lets help deposit and vote for this proposal #LUNC #LUNCcommunity #USTC pic.twitter.com/1kDmfEeYE1
— Nueng Handsome (@nuenghandsome) March 6, 2024
Such upgrades are admittedly quite modest, but they all help to set LUNC on the road to further growth.
As such, the Terra Luna Classic price could reach $0.00030 in the next couple of months.
Alternative High-Return Altcoins
It’s likely that LUNC’s progress may be gradual, however, so some traders may feel more inclined to investigate newer tokens, particularly those with the potential to rally big as they list on new exchanges.
One token that fits this bill is Scotty the AI (SCOTTY), a new Ethereum-based coin that will combine meme-related marketing with a genuinely useful platform.
It launched its presale last month, and has now gone on to raise a little more than $2.7 million.
Presale Update!
ScottyTheAi #1 #memecoin (w/Ai utility) of 2024$SCOTTY has raised $2.7M
Well on our way to closing out presale and heading for that $100M marketcap.
Congratulation to all the early #Scottydogs in presale
Buy Now: https://t.co/zRmy4g8hfW#BITCOIN… pic.twitter.com/xvWHXVMY2v
— Scotty The Ai (@ScottyThe_Ai) March 6, 2024
This is an enviable total for such a young project and sale, yet the reason why Scotty has been able to turn heads is that it boasts an exciting AI-powered trading platform.
This will come with two core features, Scotty Swap and ScottyChat.
Scotty Swap is a trading protocol for atomic token swaps, albeit one that uses AI to provide many of the conveniences and tools of more centralized exchanges.
At the same time, ScottyChat provides traders with generative AI-based bot that produces advice on market movements and cryptocurrency prices.
The idea is to use it within the context of Scotty Swap, helping users to make more informed trades.
ScottyTheAi # 1 memecoin (w/Ai utility’s) of 2024
Stage 12 of public presale has now sold out in only 22 hours.
stage 13 now live and moving fast. BUY before price increases next stage.
BUY $SCOTTY presale at https://t.co/zRmy4g8hfW#memecoin #Bitcoin #crypto… pic.twitter.com/Ypy3rbvWAL
— Scotty The Ai (@ScottyThe_Ai) March 6, 2024
Given that users will need to hold SCOTTY to use and pay for these two features, the token should experience considerable demand, particularly as its features gain adoption.
And when combined with its contagious use of memes and staking system, it could have a big listing period once it goes live.
Investors can buy it now at a discount at the official Scotty the AI website, where SCOTTY is currently selling at $0.00755.
The post Terra Luna Classic Price as LUNC Rallies 70% in 7 Days – $1 LUNC Possible? appeared first on Cryptonews.
