LUNC Slumps as Crypto Market Rally – Is a Rebound Imminent?

The crypto market is seeing a slight retracement as Bitcoin and Ethereum shed some of their gains. So far, the nascent industry has remained in the $1 trillion market cap bracket, positing that the bull run is not yet over.

Despite the market’s positive movement, the defunct LUNC asset is still struggling to catch up to these top digital assets, falling by 2.60% in the last day. Part of the slump can also be attributed to Terra co-founder Do Kwon’s recent arrest in Montenegro on forgery charges.

Will we see LUNC rebound and enjoy the influence of the market to reach new price levels?

Possible Rebound for LUNC

At the time of writing, the Terra classic coin price is trading at $0.000124 with a 24-hour trading volume of $46 million. The crypto asset has experienced a downtrend of 2.60% in the last 24 hours.

This steady slump in value has been consistent, with an 8.4% drop in the past week and 25.0% in the 30 days.

Unsurprisingly, the technicals have been affected negatively by the recent decline in values, leading to a bearish movement. The crypto asset dominated all its major moving average (MA) indicators, ranging from the 50-day MA of $0.00015 to the 200-day MA of $0.00019.

According to the technical analysis graph, LUNC found resistance at the 38.2% Fibonacci retracement of $0.00017 and has dropped since then.

However, the digital asset has been hovering just above the 0% Fibonacci retracement level of $0.00010. If the asset dropped further, it could find support at this level and bounce back, or it could retrace before reaching and head towards the 23.6% Fibonacci retracement of $0.00014.

LUNC’s relative strength index (RSI) value is 38.43, indicating that the crypto asset is still underbought. On the other hand, the asset moving average convergence divergence (MACD) value displays a weak buy signal but could flip into the sell zone at any time.

The Terra classic coin’s general technical performance is weak. However, if the asset takes advantage of the crypto market rally and retrace, it could break through and find a new price level.

Terra (LUNC) Releases the Alliance Module

Terra has announced the release of a new protocol, Alliance – an open-source Cosmos SDK module that uses interchain staking to let blockchains build business partnerships.

1/ Alliance has cut its V1 release! 🎉

Protocols are now free to integrate and test the Alliance module on their chain’s testnet 👇https://t.co/dNWk6IOZ6O

A brief 🧵 on Alliance, including details on the recent audit and mainnet launch plan 👇

— Terra 🌍 Powered by LUNA 🌕 (@terra_money) March 15, 2023

Alliance aims to inspire a new wave of innovation, user adoption, and cross-chain collaboration. This will be accomplished by increasing economic activity across Cosmos chains through the formation of bilateral, mutually beneficial alliances.

After Pisco (the Testnet) testing and iterations are completed, Terra will release the mainnet and upload a governance prop to incorporate Alliance into Phoenix (Terra mainnet).

Two High-Value Assets to Explore

Although LUNC is a popular coin, its technical performance has not been promising. As a result, investors seeking new value-driven assets can explore these two altcoins listed below.

Fortunately, they are still in the presale stage and can be purchased at a low price for higher margin gains.

$CCHG, the native token of C+Charge, is one such potential altcoin.

The world is seeking more sustainable means of transportation away from fossil fuels that are detrimental to our environment, and C+Charge believes electric vehicles are part of the answer to a sustainable future.

Therefore, the eco-friendly project aims to create a seamless transition using blockchain and a utility token.

📱At C+Charge, we provide top-quality charging experiences by allowing EV owners to pay their charges with $CCHG #utilized #tokens

We aim to minimize the process while saving your time and effort⌛💚

Buy some $CCHG now🔽https://t.co/ixe18bPqzI#Presale #ReFi

— C+Charge (@C_Charge_Token) March 26, 2023

At press time, the price of one CCHG token is $0.0235. The project has seen massive support from investors, raising over $3.41 million for its presale so far.

However, potential investors need to hurry up as there are only two days left until the presale ends.

Another value-driven altcoin investors can consider is FGHT, the native cryptocurrency token for Fight Out.

The Fight Out project aims to provide a fitness-gaming hybrid ecosystem by blending its play-to-earn initiative with a train-to-earn mechanism. Users will be able to compete and complete tasks while earning rewards.

Gm, #FightOutCrew!

The final week of presale is here 🤯🚀

This is your last chance to secure up to a 67% bonus with $FGHT!

Don’t miss out 👉 https://t.co/9pikKGRjSd#Presale #Web3 #Blockchain

— Fight Out (@FightOut_) March 27, 2023

At the time of writing, the price of one FGHT token is $0.03. The ongoing presale has hit a milestone with over $5.88 million raised from investors.

However, the presale ends on March 31, and the token will be listed on centralized exchanges on April 5. Potential investors that still want to take advantage of the low price should hurry now!

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