Machine learning algorithm sets Terra Classic price for Xmas day
With the Christmas festive season approaching, there is typically an upswing in investor interest in the cryptocurrency market as many seek promising opportunities to attain substantial returns.
Terra Classic (LUNC) has gained an even more optimistic outlook with the announcement of Binance Futures listing TerraClassicUSD (USTC) perpetual contracts featuring up to 50x leverage. Christmas market trends often turn bullish due to increased leisure time for trading, investment of year-end bonuses, and a generally optimistic outlook for the upcoming year.
In the past, certain cryptocurrencies have shown an uptick in value during this period, leading investors to expect comparable trends. Assets like LUNC have drawn attention from those seeking to capitalize on short-term movements.
Aside from its existing market standing, LUNC possesses the potential for additional expansion, driven by constant technological advancements and the activity of its community.
Considering these dynamics, Finbold employed PricePredictions and its AI-driven machine learning algorithms. These algorithms meticulously assess the ever-changing market conditions and analyze relevant indicators to forecast the likelihood of LUNC seeing gains by Christmas day.
The algorithms project that Terra Classic will increase to $0.000287 by December 25th, representing a 9.12% increase from the current asset price at the time of publication.
Terra Classic price analysis
A recent post by Matthew G Perry on X on December 4 highlights the continued optimism and support this crypto receives from its investors, as it surpassed $1.5 billion in market capitalization.
Over the past year, LUNC’s price has risen by 45%, surpassing 60% of the top 100 crypto assets during this timeframe.
This cryptocurrency is trading below its 200-day simple moving average and has recorded 18 green days in the last 30 days.
For Terra Classic’s price to return to its all-time high levels, it will require investors backing as well, similar to a substantial market capitalization of $40.99 billion from April 2022, as per data from CoinMarketCap. Subsequently, the token reached a peak trading value of $119.18 the following day. This means that with a higher market cap comes an increase in price due to supply and demand mechanics.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.