Terra LUNA Price Prediction 2023: Will LUNA Price Reach Beyond $5?

Key Takeaways:

• Terra LUNA price has been attempting to reclaim the lost positions but the bearish interference is hindering the progress of the rally
• The price is speculated to regain bullish momentum but may certainly not reclaim the lost positions which are currently not in the reach 
• The indicators have been flashing bullish signals but have not yet validated as the active address and the MVRV ratio remain plunged

Additional Read: Top Crypto Price Predictions In 2023

Terra LUNA Price History

• Terra (LUNA) a product of the Terra ecosystem which is the home for Terra Classic and Terra Stablecoin (USTC) was launched in 2018 and the blockchain went live in 2019. 
• The token was rebranded and forked from the Terra Classic chain after the collapse of the stablecoin USTC
• The price since then has been under extreme bearish pressure and failed in each attempt to recover the lost positions
• After dropping from $19.54 on the day of its re-launch on 28 May 2022, the price maintained a single digit level
• However after closing the yearly trade on a bearish note, the beginning of 2023 is also largely bearish.

Terra LUNA Technical Analysis

Source: Tradingview

• Despite undergoing dreadful days in 2022, the token maintained a decent upswing since the beginning of 2023
• The volume also has spiked notably which may have induced enough volatility within the LUNA price, enabling it to rise notably
• After breaking out from the ascending triangle, the price failed to pull a massive leg up but continues to hover just above the resistance of the triangle
• In case of a retest, the LUNA price may enter the resistance turned-to-support levels and consolidate for a while before igniting a rebound

Overview of Terra LUNA On-chain Analysis:

Terra LUNA Development Activity

Source: Santiment

Development activity of a project is done in its GitHub repository which is not private, as the work is done in public repositories. A rise in development activity indicates that the developers are serious about their business proportion. Or, the project is likely to ship new advanced features somewhere in the near future. That said it might be quite unlikely that the project is less likely to be just a scam.

The development activity maintained a notable upswing after being consolidated for quite a long time. However, at the beginning of 2023, the development activity rose significantly at the same time when the crypto markets turned bullish. Therefore, now when the activity is in the incremental ranges, one can expect a positive impact on the price ahead.

Terra LUNA Total Weighted Sentiments

Source: Santiment

The total weighted sentiments is a sentimental indicator considering the mentions or posts circulated on the social platforms. Using this indicator one can determine the social stands of the token, or whether the market participants are bullish or bearish. It combines all the positive and negative mentions of the token and compares it with the frequency over time. If the values turn out to be positive then the traders are bullish else bearish. 

In the case of LUNA, the weighted sentiments have been largely bearish as the collapse of the ecosystem has impacted the price and the sentiments of the market participants to a large extent. Presently, the values have been rising slightly within the positive ranges but also display changes of flipping back down at any moment.

Terra LUNA Daily Active Address

Source: Santimnet

The daily active addresses(DAA) is an indicator that determines how active is the platform which in turn indicates the interest of the market participants over time. It considers all the mentions regardless of whether they are positive or negative and compares them with the frequency over time. 

A rise in the DAA levels indicates the increased activity of the market participants that keep the platform active and volatile. However, in the case of Terra, these levels have dropped heavily and are hovering around the bottom. This indicates the shaft of focus of the traders away from the platform which impacts the price to a large extent.

Read More: Ethereum Price Predictions

Terra LUNA Price Prediction for 2023

The year 2022 was a nightmare for the entire Terra ecosystem and the entire crypto space as the fallout of the ecosystem collapsed. Since then numerous steps were taken to revamp the platform, one of them to relaunch the Terra chain and new LUNA token. However, the attempts do not appear to be fruitful as of now but since the beginning of 2023, the inflated prices do offer a ray of hope. 

If the bullish momentum persists ahead, the LUNA price may close the quarterly trade around $3 and keep up the bullish momentum ahead. By the end of Q2, the LUNA price may attempt to settle above $4 by may be restricted around $3.75 to $3.83. The second half may continue to be extremely bullish and may try to reach $5. But by the end of the year 2023, the prices could settle around $4.8 to $5.1.

Terra LUNA Price Prediction for 2024 

The year 2024 may begin with a bullish note as the bulls could have gained enough momentum throughout 2023. The prices since the beginning may remain elevated and attempt to reach the higher targets in less time. Additionally, the possibility of Bitcoin manifesting a bull run is expected and hence the entire crypto market could also rise high in 2024. 

The bullish momentum could gear up in the second half of 2024 and after surging beyond $6.5 in H1, the price could intensify its upswing in the second half. The price may surge beyond $7 in Q3 2024 and in Q4 the price may surge beyond $8.5 but may face a slight bearish action by the end of 2024 that may restrict the price to around $8.

Terra LUNA PRICE PREDICTION 2025-2030

After mounting enough bullish momentum, the LUNA price may intensify with its upswing in the coming years. The price may maintain the bull run through Q1 2025, mark highs close to $10, and quickly fall into a deep bearish trap. The descending trend may prevail for the rest of 2025 and also in the first few months of 2026 followed by which the prices may consolidate within narrow ranges until the end. Further, the price may ignite a fine upswing in 2027 that may prevail throughout 2028.

The price in 2029 is believed to ignite a notable bull run and rise beyond the milestone at $10 by the mid of the year. However, the bears are expected to remain aloof and hence the price may continue raising slowly yet steadily in 2030 too. By the end of the year, the LUNA price may have surged beyond $10 and maintained a notable upswing ahead. 

Should you invest in Terra LUNA in 2023? 

Terra(LUNA) price has been under deep consideration after the infamous collapse in 2022. While many efforts are being carried out to revamp the ecosystem, one can expect a notable rise in prices in the coming days. However, before directly investing in LUNA or any other crypto, carrying out deep research on the fundamentals, future prospects, the team, etc is very important. Moreover, knowledge of the chart patterns and having a proper entry and exit strategy with risk management is imperative.

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