The momentum behind the introduction of the LUNC/USTC swap pair is gaining traction as Terraform Labs commences comprehensive testing to enhance its functionality. Notably, Terraform Labs has confirmed the merger of the previously submitted Pull Request (PR) that paves the way for the birth of the LUNC/USTC swap pair.
The anticipated upgrade is scheduled to be implemented in the upcoming week, accompanied by thorough end-to-end testing to ensure the seamless operation of each component. As the merging process progresses, the Terra Classic (LUNC) community can expect the long-awaited LUNC/USTC swaps to become available on TerraSwap in the near future.
The demand for this trading pair has been growing over the past few weeks, prompting Finbold to delve into the employment of machine learning algorithms by PricePredictions, a cryptocurrency monitoring and prediction platform, on July 7. The objective was to assess the potential price of LUNC at the end of July based on the latest developments.
According to the analysis, Terra Classic is projected to decline to $0.000076 by July 31.
The prediction is gathered by using several key technical indicators, including the moving average convergence divergence (MACD), relative strength index (RSI), Bollinger Bands (BB), and more.
Terra Classic price analysis
The price of LUNC has experienced a significant decline of -27% over the past year, indicating a bearish trend. Furthermore, it has been outperformed by 64% of the top 100 cryptocurrencies during this one-year period. Currently, LUNC is trading below its 200-day simple moving average, which suggests a potential downtrend in its price trajectory.
Despite these indicators, it is worth noting that LUNC has had 15 days of positive price movement out of the last 30 days, accounting for 50% of the observed period.
The recent performance of LUNC has not been favorable, as it has experienced a 5% decrease in price within the day and an additional 8.6% decline over the course of the week.
As of now, LUNC faces a support level of $0.00007 and a resistance level of $0.00009.
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