You can also read this news on COINTURK NEWS: Market Trends Indicate Potential Opportunities for LUNA, LUNC, and Dogecoin

Cryptocurrency enthusiasts are experiencing renewed losses following the recent decline in Bitcoin (BTC) , which is currently priced at $66,500. As we analyze the current charts and price predictions for LUNA, LUNC, and Dogecoin dated October 23, we might be witnessing a pullback that offers buying opportunities ahead of a potential rise.

Analysis of LUNA and LUNC

Do Kwon remains unfound, and since the bankruptcy of Terra (LUNA), it has gained numerous competitors. The long-term outlook for LUNA appears bleak due to both the liquidation of Terraform Labs and the plethora of alternatives available to developers. Furthermore, a significant portion of applications on the network transitioned to rival networks in 2022.

The price chart shows lateral movement for the past 124 days, apart from occasional speculative surges. This situation suggests that following Kwon’s potential extradition to the U.S. or South Korea, we may see new downward breaks. A weekly close above $0.468 might indicate a temporary upward trend, but a substantial recovery in overall market sentiment is necessary.

LUNC’s situation mirrors LUNA’s. The collapse of the Terra network left the older network abandoned and unable to recover. For Binance‘s burn strategy to create a supply shortage, it must persist for decades, rendering LUNC a long-term risky asset, albeit not without the potential for speculative surges.

Review of Dogecoin (DOGE)

Dogecoin (DOGE) has seen a 44% increase over the past eleven days. Although the price has stalled after hitting the key resistance at $0.15, the long lower wicks indicate that investors remain resilient. If Trump’s scenario unfolds, Elon Musk’s involvement might propel DOGE to higher peaks in November. However, if we start observing closes below $0.132, we might witness a decline to key levels of $0.11 and $0.105.

Currently, DOGE holds its critical level, enabling potential new attempts at resistance.

The post Market Trends Indicate Potential Opportunities for LUNA, LUNC, and Dogecoin appeared first on COINTURK NEWS.