Terra Luna (LUNA) Up 4% Despite Governance Issues: Can Momentum Last?

Terra Classic Luna Classic LUNC

The price of Terra Luna Classic (LUNC) has gone up by 4%, but there are doubts about whether it can keep going up. This comes as a governance proposal for the cryptocurrency didn’t work out, and trading activity in the overall crypto market has been slow.

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Terra Luna Classic’s (LUNC) price went up by 4% even though a plan for how it’s managed didn’t work out. People are now talking about whether this upward trend will keep going. To keep going up, LUNC needs to surpass the $0.00012 barrier. Some critics of the failed plan say it would have stopped certain providers of managed node validator services from working.

Terra Luna Classic Price Fluctuates Amid Governance Concerns

Despite a governance proposal aimed at preventing double network validating, the price of Terra Luna Classic (LUNC) saw a 4% increase on Wednesday. However, critics of the proposal highlighted its potential to hinder certain providers of managed node validator services from operating. Others noted that the proposal might be ineffective, as node validators could opt to ignore it.

Currently trading around $0.0001060, Terra Luna Classic’s price is influenced by its 21-day moving average, acting as a significant factor.

The failure to surpass the resistance zone at $0.00012 indicates that bullish sentiment has not fully regained control. This observation isn’t surprising given the stagnant trading activity within the broader crypto market. Bitcoin (BTC) recently struggled to break above its 50-day moving average, settling back at $62,000. With the crypto market lacking compelling bullish narratives, uncertainty persists.

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Terra Luna Classic (LUNC) Shows Recovery Potential

Despite retracting from its recent weekly peak above $0.00012, LUNC remains more than 45% higher than last week’s lows. This rebound marks a significant turnaround from the downtrend that persisted since early March, indicating a notable improvement in the technical outlook. However, sustained upward momentum for LUNC hinges on its ability to breach the $0.00012 resistance level.

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Exploring Alternative Investment Strategies

Investors considering entering the volatile realm of speculative coins like LUNC typically possess a high tolerance for risk. However, those seeking potentially higher returns may find alternative strategies worth exploring. One such strategy is crypto presale investing, involving the purchase of tokens from startup crypto projects before their product launch. One intriguing project gaining attention from analysts is Wiener AI (WAI), a playful AI meme coin.

In Summary

LUNC is doing well with signs of its price going up, but it’s having trouble breaking past $0.00012. Plus, the overall crypto market isn’t making things easy. Still, there are other options for investors who don’t mind taking big risks. One of them is Wiener AI (WAI), which could offer even better returns. So, while LUNC deals with its challenges, WAI might be a good choice for risk-tolerant investors.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.


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