Will Luna Classic Recover? $LUNC PUMPS after Binance announcement, Time to Buy?
Will Luna Classic Recover? Luna Classic pumped 149.5% in 31 days after validator nodes were activated. It had reached a recent high of $0.00059 before profit booking took it lower. After falling to as low as $0.00018 today, a surprise announcement by Binance to implement Luna Burn helped LUNC pump above $0.0003 again.
64% of the Crowd predict that LUNC will rise above $1 by 2031
Will Luna Classic Recover?
Let us explore whether Luna can recover in the next few weeks and months.
- Analysis of recent performance
- Macroeconomic environment
- Analysis of other data sets that can predict LUNC recover
- Activities carried out by the community and their likely impact
- Likely Impact of Do Kwon’s arrest warrant
Will Luna Classic Recover? Analysis of recent performance
Luna Classic is up 423.9% from June 18th, the day the cryptocurrency market reached the bottom of the year. Ethereum is up 20.7%.
LUNC Performance Monthly
- June: +6.7%
- July: -27.9%
- August: +126.9%
- September: +35.9%
Luna Classic has been on a recovery path since June and except for July has grown every month after its re-launch. However, the momentum has stalled after reaching the recent high of $0.00059
Will Luna Classic Recover? Have we reached the Crypto market bottom?
June 18th continues to be the year low for BTC and ETH.
- Both BTC and Ethereum have remained above that bottom reached on June 18th but they are increasingly at the risk of falling lower.
- Altcoins like Cardano and Solana are 10-15% short of their year lows and increasingly at risk of falling lower
- With Putin escalating in Ukraine, things could go either way.
Our view is the Cryptocurrency market could see further downside over the next few months (2018 Precedent).
Luna Classic July vs September Performance
On June 26th, LUNC was priced at $0.00005865. Over the next 5 days, it pumped to $0.00016
It then fell from $0.00016 to $0.000087 over a 50-day period.
On August 21st, LUNC was priced at $0.000087. Over the next 2 weeks, it pumped to $0.00059.
It has since fallen to $0.00019 over the next 15 days.
At the end of Period 1 (60 days), LUNC was a solid 48% higher after the pump and dump. At the end of Period 2 (35 days so far), LUNC is still 135% higher.
In both cases, the pump was due to escalated community actions. Burn in the first case and validators activation in the second case. The next pump too will come because of community actions.
Will Luna Classic Recover? $LUNC vs $LUNA vs BTC and ETH
$LUNC price has outperformed other cryptos by a wide margin over the last 4 months. However, with LUNC trailing over the last week, the LUNC community will need to find a new trigger to deliver another pump for LUNC
Will Luna Classic Recover? Macroeconomic Factors
- The Fed increased rates by 75 basis points last week. This is bad news.
- Putin is sending more soldiers to Ukraine. This is bad news.
- Crude Oil is below $90, this is very good news
- Europe’s Inflation numbers are spiking. This is bad news
- Europe’s Gas crisis may not turn out to be as bad as expected. This is good news.
The macroeconomic environment is worsening again, complicating the recovery of financial markets and LUNC as well.
Will Luna recover? What is working in favor of Luna Classic?
- The community has organized really well and has accomplished a lot of milestones over the last 3 months (Not just Burn). This included Getting new validators in place and working hard to get the governance mechanisms in place
- LUNC burn which began in June has continued at a steady pace over the last few days.
The community is central to LUNC’s success.
Can Luna Classic Recover? $LUNC vs $LUNA Trading Volumes
LUNC tends to dominate for fewer days in a month but pumps much harder than $LUNA. For example, LUNC has had 13 days when Volume had risen above $1 B since July. It was just 6 days for $LUNA. This volatility is strongly connected to newsflow and community activities which is absent in the case of $LUNA.
|Days LUNC was ahead||Days LUNA was ahead|
|September||20 days||5 days|
|August||11 days||20 days|
|July||24 days||7 days|
|June||3 Days||27 Days|
Will Luna Classic Recover? What about Trading Volume?
Looking at the $LUNC volume data for the last 31 days, it is clear that Luna Classic is also very dependent on high volumes for the price to increase.
LUNC appears to be following the path of the PUMP in June, LUNC PUMPED from $0.00006 to $0.00016 before crashing all the way to $0.00008. In the September PUMP, LUNC peaked at about 0.00059 and then fell all the way to 0.00025. It has since risen higher. The difference between the pump in June and September is that LUNC reached the 50% fall quickly in September (In Days vs Weeks in June-July). LUNC pumped again today after the Binance announcement.
Will Luna recover? Latest Luna Classic News
- Binance is implementing the LUNC Burn
- LUNC.BET has launched a native LUNC Projects
- Luna Classic on-chain burn is active
LUNC latest tweets on Today’s Price Movements
Will Terra Luna Classic recover? To Conclude
Key Questions and Answers regarding LUNC Recovery
Should you sell $LUNC?
LUNC is likely to go down further in the short term after rising a little due to the Binance announcement. Secondly, there is no guarantee it will immediately rise again. However, if the community delivers another innovation, a massive pump is highly likely. The community is stalled at the moment but is unlikely to remain so over the next 2 weeks. A sell or buy decision is therefore completely dependent on the willingness to lose some money in the hope of gaining a lot.
Can Luna Classic Recover?
Yes, LUNC can recover. Thanks to the LUNC community, LUNC has already pumped twice over the last 3 months. We anticipate the Crypto market to recover either in the 4th quarter or H1 next year. LUNC recovery should continue if the community can focus on Luna Classic differentiators after LUNC Burn is rolled out on-chain on September 21st. Do Kwon’s arrest warrant is a matter of concern but there isn’t enough formation one way or other to take a decision.
Will Luna Classic BURN alone be enough for Luna Classic’s recovery?
LUNC is in a competitive market where buyer interest is dependent on the demand for Luna Classic coins. Burn is a method to destroy supply and not increase demand. Supply restriction can drive price higher only to a certain level. Instead, how the LUNC community can create demand for SHIB over the next few weeks in terms of a consumer/ business proposition will determine if LUNC heads to $1
Can Forked Coins like Luna Classic perform well?
As you are aware, Ethereum is a hard fork from Ethereum Classic and Ethereum Classic is now open source. While ETH has grown 579% in the last 5 years, ETC has delivered a 292% return. But ETC did peak at a 1000% plus return between 2017 and 2021.
In Sum, the chances of $LUNC recovering are good as the overall cryptocurrency market has also begun a path of recovery. However, should the community activities stall, it could end the cryptocurrency fairly quickly.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.