Terra Classic [LUNC] Investors have a few reasons to celebrate the new year

  • IBC channel between Osmosis and Terra Classic [LUNC] He was online again.
  • LUNC’s Altrank looked bullish, but market indicators were not supportive.

In a recent announcement, the IBC between Osmosis and Terra Classic was revealed [LUNC] He was online again. Users can finally move LUNC and USTC between threads again.

Read Terra Classic [LUNC] predict the price 2023-24

As soon as this news broke, the LUNC Twitter community stormed with their opinions on the matter. Many Twitterati believe that this is just the beginning of LUNC, and that the next year will bring more happiness to investors.

Aside from these developments, LunarCrush data indicated that LUNC investors can expect the market to turn in their favor soon. LUNC ranked first in Cosmos IBC’s Top 10 Projects by AltRank, which was a huge bullish sign for the token and hinted at the price hike that can be expected in the following days.

Is a price pump inevitable?

Terra Classic’s recent price action has been very slow, failing to post any significant gains. At the time of writing, LUNC is trading at $0.0001685 with a market capitalization of over $1 billion.

LUNC metrics in series provided a better understanding of what might lie ahead. And her developmental activity has increased significantly over the past week, which was a positive sign.

In addition, the cryptocurrency community’s faith in LUNC seems to have increased with the recent increase in positive sentiment for the token. Lunar Crush data She revealed that LUNC has remained popular in the crypto industry, as its social share has increased several times in the past seven days.

Interestingly, the token also appeared existing One of the most traded Cosmos IBC tokens on December 13th.

Source: feeling

But investors may have to wait a little longer

While the metrics supported higher prices, the market indicators told a different story. For example, the exponential moving average (EMA) range revealed that the bears had the upper hand in the market.

The 20-day EMA rested below the 55-day EMA. In fact, the Relative Strength Index (RSI) also hovered below the neutral mark, which was another bearish sign.

However, the MACD reading showed that the bulls are slightly ahead of the bears. Similarly, LUNC’s Chaikin Money Flow (CMF) posted a slight increase, giving investors hope.

Source: TradingView

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