{"id":31604,"date":"2023-10-29T17:52:40","date_gmt":"2023-10-29T21:52:40","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=31604"},"modified":"2023-10-29T17:52:40","modified_gmt":"2023-10-29T21:52:40","slug":"analyst-predicts-terra-luna-to-surge-by-80-100-following-key-event","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/29\/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":"

LUNA, the native token of the 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.<\/p>\n

According to 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<\/p>\n

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<\/p>\n

LUNA Could Double Its Value After Breaching Major Trendline, Analyst Says<\/strong><\/h2>\n

In a 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.<\/p>\n

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%.<\/p>\n

I may not be a fan of this coin, but I receive frequent Chart Requests for it.$LUNA<\/a> has broken a Major trendline and could potentially see a bullish rally of 80-100%. #Crypto<\/a> #LUNA<\/a> #LUNAUSDT<\/a> pic.twitter.com\/R9UEmxK2Bx<\/a><\/p>\n

\u2014 Captain Faibik (@CryptoFaibik) October 29, 2023<\/a><\/p>\n\n

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.<\/p>\n

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<\/p>\n

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.<\/p>\n

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<\/p>\n

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.<\/p>\n

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.<\/p>\n

Related Reading: Is Terra Classic Planning For USTC To Be Pegged To The Dollar Again?<\/a>\n<\/p>\n

Terra Community Approves New Proposal\u00a0<\/strong><\/h2>\n

In other news, the Terra Community has recently<\/a> passed governance proposal 4790 aimed at the active and aggressive development of the Terra ecosystem with resources provided by Terraform Labs.<\/p>\n

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<\/p>\n

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.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

LUNA, the native token of the 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.<\/p>\n

According to 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<\/p>\n

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<\/p>\n

LUNA Could Double Its Value After Breaching Major Trendline, Analyst Says<\/strong><\/h2>\n

In a 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.<\/p>\n

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%.<\/p>\n

I may not be a fan of this coin, but I receive frequent Chart Requests for it.$LUNA<\/a> has broken a Major trendline and could potentially see a bullish rally of 80-100%. #Crypto<\/a> #LUNA<\/a> #LUNAUSDT<\/a> pic.twitter.com\/R9UEmxK2Bx<\/a><\/p>\n

\u2014 Captain Faibik (@CryptoFaibik) October 29, 2023<\/a><\/p>\n

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.<\/p>\n

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<\/p>\n

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.<\/p>\n

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<\/p>\n

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.<\/p>\n

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.<\/p>\n

Related Reading: Is Terra Classic Planning For USTC To Be Pegged To The Dollar Again?<\/a>\n<\/p>\n

Terra Community Approves New Proposal\u00a0<\/strong><\/h2>\n

In other news, the Terra Community has recently<\/a> passed governance proposal 4790 aimed at the active and aggressive development of the Terra ecosystem with resources provided by Terraform Labs.<\/p>\n

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<\/p>\n

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.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-31604","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=31604"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31604\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31604"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}