{"id":558109,"date":"2023-10-29T17:00:46","date_gmt":"2023-10-29T17:00:46","guid":{"rendered":"https:\/\/ktsl888.com\/?p=558109"},"modified":"2023-10-29T12:37:28","modified_gmt":"2023-10-29T12:37:28","slug":"analyst-predicts-terra-luna-to-surge-by-80-100-following-key-event","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/terra-luna\/analyst-predicts-terra-luna-to-surge-by-80-100-following-key-event\/","title":{"rendered":"Analyst Predicts Terra LUNA To Surge By 80-100% Following Key Event"},"content":{"rendered":"<p><span style=\"font-weight: 400\">LUNA, the native token of the<a href=\"https:\/\/ktsl888.com\/terra-luna\/luna-2-0-suffers-significant-price-correction-hours-after-launch\/\" target=\"_blank\" rel=\"noopener \"> Terra 2.0 blockchain,<\/a> was among the many gainers in the past week positively affected by Bitcoin\u2019s impressive rally toward the $35,000 mark.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to <a href=\"https:\/\/coinmarketcap.com\/currencies\/terra-luna-v2\/\" target=\"_blank\" rel=\"noopener nofollow\">data from CoinMarketCap,<\/a> LUNA is up by 13.96% in the last seven days, providing some relief for investors who have had to endure the token\u2019s bearish form in the previous weeks leading to this price rise.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">As expected, LUNA\u2019s current bullish form has now attracted much attention, with some analysts speculating there could be more gains in the coming weeks.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/analysis\/lunc\/terra-validator-opposes-ustc-burning-pushes-alternative-plan-to-regain-dollar-peg\/\" target=\"_blank\" rel=\"noopener \">Terra Validator Opposes USTC Burning, Pushes Alternative Plan To Regain Dollar Peg<\/a><\/div>\n<h2><strong>LUNA Could Double Its Value After Breaching Major Trendline, Analyst Says<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">In a <a href=\"https:\/\/x.com\/CryptoFaibik\/status\/69485523?s=20\" target=\"_blank\" rel=\"noopener nofollow\">post on X<\/a> on Sunday, crypto analyst Captain Faibik shared with his 67,000 followers an intriguing bullish prediction on LUNA\u2019s price trajectory.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Faibik, who claimed to not be a LUNA enthusiast, noted that the altcoin has recently broken a major <\/span><span style=\"font-weight: 400\">bearish trendline and could potentially gain by 80-100%.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I may not be a fan of this coin, but I receive frequent Chart Requests for it.<a href=\"https:\/\/twitter.com\/search?q=%24LUNA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$LUNA<\/a> has broken a Major trendline and could potentially see a bullish rally of 80-100%. \ud83d\udcc8<a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/LUNA?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#LUNA<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/LUNAUSDT?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#LUNAUSDT<\/a> <a href=\"https:\/\/t.co\/R9UEmxK2Bx\" rel=\"nofollow\">pic.twitter.com\/R9UEmxK2Bx<\/a><\/p>\n<p>&mdash; Captain Faibik (@CryptoFaibik) <a href=\"https:\/\/twitter.com\/CryptoFaibik\/status\/69485523?ref_src=twsrc%5Etfw\" rel=\"nofollow\">October 29, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">According to Faibik\u2019s analysis, LUNA traded above $0.47 in the past week, breaching a bearish trendline that stretches as far back as January 2023 on the token\u2019s daily chart.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Traditionally, trendlines are used by traders to connect several price points together and provide some insight into the potential direction of an asset\u2019s price movement.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">When an asset\u2019s price moves out of an established trendline, as in the case of LUNA, it can be interpreted as an impending price reversal.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Since the start of 2023, LUNA has produced an overall negative price performance, losing over 63% of its value in the last 10 months. However, if Faibik\u2019s prediction proves true, the popular altcoin could be on its way to a remarkable recovery.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, LUNA trades at $0.468 with a 0.70% decline in the last day. With an 80-100% price increase, this price could rise as high as $0.934 in the coming weeks.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, LUNA\u2019s daily trading volume is currently down by 3.73% and valued at $48.67 million. With a market cap of $263.92 million, LUNA is ranked as the 117th largest cryptocurrency.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/is-terra-classic-planning-for-ustc-to-be-pegged-to-the-dollar-again\/\" target=\"_blank\" rel=\"noopener \">Is Terra Classic Planning For USTC To Be Pegged To The Dollar Again?<\/a><br \/>\n<\/span><\/p>\n<h2><strong>Terra Community Approves New Proposal\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">In other news, the Terra Community <a href=\"https:\/\/x.com\/terra_money\/status\/06738764?s=20\" target=\"_blank\" rel=\"noopener nofollow\">has recently<\/a> passed governance proposal 4790 aimed at the active and aggressive development of the Terra ecosystem with resources provided by Terraform Labs.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Under this newly approved proposal, Terraform Labs, alongside Terra community partners, will explore opportunities to utilize non-LUNA capital in driving the growth of the project\u2019s economy.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In addition, 125 million LUNA will be staked by a Terra community council<\/span><span style=\"font-weight: 400\"> to encourage and reward active network engagement, offer essential services to support the ecosystem, and guarantee equitable decentralization.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large\" src=\"https:\/\/www.tradingview.com\/x\/gEOxJXKn\/\" alt=\"LUNA\" width=\"1480\" height=\"913\"><\/p>\n<pre style=\"text-align: center\">LUNA trading at $0.4696 on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/xg17RJqK\/\" target=\"_blank\" rel=\"noopener nofollow\">LUNAUSDT chart on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\"><em>Featured image from iStock, chart from Tradingview<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>LUNA, the native token of the Terra 2.0 blockchain, was among the many gainers in the past week positively affected by Bitcoin\u2019s impressive rally toward the $35,000 mark. According to data from CoinMarketCap, LUNA is up by 13.96% in the last seven days, providing some relief for investors who have had to endure the token\u2019s bearish form in the previous weeks leading to this price rise.\u00a0 As expected, LUNA\u2019s current bullish form has now attracted much attention, with some analysts speculating there could be more gains in the coming weeks.\u00a0 Related Reading: Terra Validator Opposes USTC Burning, Pushes Alternative Plan To Regain Dollar Peg LUNA Could Double Its Value After Breaching Major Trendline, Analyst Says In a post on X on Sunday, crypto analyst Captain Faibik shared with his 67,000 followers an intriguing bullish prediction on LUNA\u2019s price trajectory. Faibik, who claimed to not be a LUNA enthusiast, noted that the altcoin has recently broken a major bearish trendline and could potentially gain by 80-100%. According to Faibik\u2019s analysis, LUNA traded above $0.47 in the past week, breaching a bearish trendline that stretches as far back as January 2023 on the token\u2019s daily chart. Traditionally, trendlines are used by traders to connect several price points together and provide some insight into the potential direction of an asset\u2019s price movement.\u00a0 When an asset\u2019s price moves out of an established trendline, as in the case of LUNA, it can be interpreted as an impending price reversal. Since the start of 2023, LUNA has produced an overall negative price performance, losing over 63% of its value in the last 10 months. However, if Faibik\u2019s prediction proves true, the popular altcoin could be on its way to a remarkable recovery.\u00a0 At the time of writing, LUNA trades at $0.468 with a 0.70% decline in the last day. With an 80-100% price increase, this price could rise as high as $0.934 in the coming weeks. Meanwhile, LUNA\u2019s daily trading volume is currently down by 3.73% and valued at $48.67 million. With a market cap of $263.92 million, LUNA is ranked as the 117th largest cryptocurrency. Related Reading: Is Terra Classic Planning For USTC To Be Pegged To The Dollar Again? Terra Community Approves New Proposal\u00a0 In other news, the Terra Community has recently passed governance proposal 4790 aimed at the active and aggressive development of the Terra ecosystem with resources provided by Terraform Labs. Under this newly approved proposal, Terraform Labs, alongside Terra community partners, will explore opportunities to utilize non-LUNA capital in driving the growth of the project\u2019s economy.\u00a0 In addition, 125 million LUNA will be staked by a Terra community council to encourage and reward active network engagement, offer essential services to support the ecosystem, and guarantee equitable decentralization. LUNA trading at $0.4696 on the daily chart | Source: LUNAUSDT chart on Tradingview.com Featured image from iStock, chart from Tradingview<\/p>\n","protected":false},"author":581,"featured_media":558114,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[85583],"tags":[83641,89741,85997,83642,65698,89740,86013],"class_list":["post-558109","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-terra-luna","tag-luna","tag-luna-price-prediction","tag-lunausd","tag-lunausdt","tag-terra","tag-terra-2-0","tag-terraform-labs"],"acf":[],"yoast_head":"\n<title>Analyst Predicts Terra LUNA To Surge By 80-100% Following Key Event<\/title>\n<meta name=\"description\" content=\"Analyst Crypto Faibik has predicted that LUNA could potentially gain by 80-100% following this major develeopment.\" \/>\n<meta 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Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. 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