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AI predicts Terra Classic price for May 1, 2024

source-logo  finbold.com 22 April 2024 09:39, UTC

Having benefited from a recently passed block size proposal and a jump in volume, Terra Classic (LUNC) has been trading relatively high in the last 48 hours or so – especially compared to its broader 30-day performance.

Still, the token is far from out of the woods. On the one hand, LUNChas been trading with substantial volatility in the last 24 hours and, at the time of publication, appears poised to solidify a renewed decline.

On the other hand, despite the latest surge in price, Terra Classic’s price remains substantially below its 2024 prices and nearly 25% in the red in the last 30 days of trading.

With the hopes and concerns in mind, Finbold decided to consult the predictive artificial intelligence (AI) algorithms of a platform specializing in forecasting future prices – PricePredictions – on where the LUNC price may find itself at the start of May.

AI forecasts LUNC’s May first fortunes

According to the AI algorithms of PricePredictions, Terra Classic is likely to decisively end its 30-day downtrend but, simultaneously, it is unlikely to turn the recent rally into a more significant bull run.

Indeed, the platform forecasts that on May 1, LUNC will trade at $0.000110, meaning the cryptocurrency is expected to essentially make no significant moves in the coming days given that, at press time, it is priced at $0.0001105.

Still, given LUNC’s performance in recent weeks, the fact it offered only 13 green days out of the last 30, and that it is trading below its 200-day simple moving average, such prolonged stability appears unlikely.

The doubts are corroborated by technical analysis (TA) retrieved from TradingView on April 22, which almost universally rates Terra Classic as a sell across both oscillators and moving averages – though it is noteworthy that oscillators do flip to ‘buy” without affecting the overall ‘sell’ rating when based on the daily chart.

On the other hand, not everyone is bearish and some – including the prominent crypto expert known on X as Javon Marks – estimated that LUNC might soon surge 171% as it is showing ‘signs of MAJOR STRENGTH.’ The analyst also added that the rally ‘could be just beginning!’

More recent performance is also mixed as while the cryptocurrency did climb 3% in the last 7 days of trading, the last 24 hours cast doubt on its long-term prospects as Terra Classic is 0.46% in the red on the daily chart.

LUNC price today stands at $0.000110.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.