LUNC has continued its bullish run after seeing a retracement back Monday. The altcoin has already risen double-digits in the last 24 hours, bringing its price above $0.0001 once more. As this run continues, the machine learning algorithm at CoinCodex has predicted when the digital asset’s price might reach $0.0005.
When Will LUNC Price Reach $0.0005?
The machine learning algorithm at CoinCodex has maintained a rather bullish stance on the price of LUNC going forward but still thinks that the $0.0005 price target is still a long way away. For example, the predictions for both the next five days and then the next month remain the same at the $0.000118 level, with not much changes going forward.
But then, it sees another five-year stretch until the LUNC price will be able to beat the $0.0005 level. This is expected to happen in 2028, and in the same year, the machine learning algorithm also expects that the price will fall as low as $0.000049.
Interestingly, $0.000504 is the highest that the machine learning algorithm expects the price to go, at least in the next seven years until 2030. After hitting this target in 2028, it predicts that the price will crash further down, adding as much as 6 zeroes to the current price.
As for the sentiment surrounding the altcoin, it still remains highly bullish with 22 indicators flashing bullish and 11 turning bearish. This puts the sentiment index at a bullish 67% compared to a bearish 33%.
Price recovers above $0.00011 | Source: LUNCBUSD on Tradingview.com
LUNA Classic Outperforms The Market
The surge in the LUNC price has continued into the early hours of Wednesday where it has completed an almost 30% rise from its Tuesday lows. This makes LUNC one of the top gainers in the market, coming behind the SEI network and USTC in terms of gains.
Interestingly, this rise in price is coming at a time when the LUNC trading volume is falling. According to data from CoinMarketCap, the LUNC daily trading volume fell approximately 20% in the last day. This suggests that there is a decrease in selling, leaving the buyers in the market to drive up the price.
LUNC is currently trading at $0.0001222 with an approximately 30% increase in a 24-hour period. If sellers continue to halt their activities then the LUNC price could cross $0.00015 before the day is over.
In the same vein, the USTC price, the sister token of LUNC, has risen almost 50% in one day. This could be a result of a recent proposal that was passed by the Terra community in a bid to return both coins to their previous glory.
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Author: Best Owie