- An analyst from Classy Crypto predicted that LUNC may recover to above $100 in the next bull run.
- This prediction followed Bitfinex’s announcement that it would consider relisting LUNC if the project gains traction.
- At press time, LUNC was trading at $0.00008254 after it gained 2.43% over the past day of trading.
The crypto market analysis channel Classy Crypto predicted that Luna Classic (LUNC) may recover to above $100 in the next bull run if the project is able to get enough community support. This prediction comes after the popular centralized exchange Bitfinex announced that it will reconsider relisting LUNC if the crypto gains enough traction.
According to the analyst, this potential listing will be monumental for the LUNC ecosystem and its community. In addition, LUNC getting relisted on Bitfinex may be a catalyst for the altcoin’s journey back to its all-time high (ATH) of $119.18.
He did note, however, that there are still a number of malicious actors that are taking away voting power and hindering LUNC’s chances of recovery. Nevertheless, the Classy Crypto analyst remains optimistic towards the crypto’s prospects in the next bull market.
At press time, LUNC was trading at $0.00008254 after it gained 2.43% over the past 24 hours, according to CoinMarketCap. In addition to strengthening against the Dollar, LUNC was also able to outperform the two market leaders Bitcoin (BTC) and Ethereum (ETH) over the past day of trading.
The altcoin was up 1.97% against BTC and 2.21% against ETH. As a result, 1 LUNC was worth approximately 0.000000002735 BTC and 0.00000004437 ETH at press time. Furthermore, the crypto was trading closer to its daily high of $0.00008341 than its 24-hour low of $0.00007998.
Daily chart for LUNC/USD (Source: TradingView)
A bullish descending wedge chart pattern was present on LUNC’s daily chart. Should this chart pattern be validated, the crypto’s price may look to rise to the next key resistance level at $0.00008913 in the next 24-48 hours.
A break above this major price point may see LUNC continue to climb to $0.00009610 in the following week.On the other hand, if LUNC is unable to close a daily candle above the 9-day EMA line at around $0.00008452 in the next 48 hours, then it may look to retest the crucial support level at $0.00007913.
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