Today, US payments network Silvergate’s failure to submit its annual report to the SEC and other developments has wreaked havoc in the cryptocurrency market. $22 billion was wiped from Bitcoin’s market cap in an hour, with most altcoins down around 5%. What levels will be critical for SHIB, LUNC and ETH as a tough March begins? Let’s take a look at the predictions of machine learning algorithms.
Machine learning algorithm, SHIB, LUNC and ETH expect these levels by the end of March
Shiba Inu (SHIB)
Ranking 14th by market cap, SHIB is trading at $0.0000113, down 5% from the last 24 hours. Compared to last week, the depreciation reaches double digits. PricePredictions’ machine learning algorithms predict that the price of the Shiba Inu will reach $0.000011 by the end of March. If this prediction comes true, SHIB will be trading at 8% off its current levels at the end of March.
Meanwhile, the Layer-2 network that Shiba will not drop will depend on developments such as Shibarium’s beta launch and SHIB’s special exhibit: Metaverse at the 2023 SXSW. The meme token is still outperforming giants like Litecoin and Uniswap despite the day’s sales.
Ethereum (ETH)
Ethereum is currently facing strong selling pressure under the influence of multiple negative developments. It has lost 3.5% in value in the last 24 hours. Machine learning algorithms predict that Ethereum will trade at $1,529 by the end of March. At the current price of $1,560, ETH will depreciate 2.39% by the end of the month, according to the algorithm.
Whether Ethereum holds above the $1,500 support or even breaks the $1,700 resistance will largely depend on other developments in the ecosystem itself, such as the Shanghai upgrade that will allow traders to withdraw their staked ETH. As Kriptokoin.com, we have included Ethereum’s upgrade dates and what will change in the network in this article.
Terra Classic (LUNC)
Terra Classic (LUNC), the original first version of the collapsed Terra (LUNA) ecosystem, is still looking for a lifeline after facing weeks of decline. Investors are watching how LUNC’s price will perform in the coming days, as the Terra Classic community takes measures to help LUNC reap some benefits.
Accordingly, its machine learning algorithms predict that Terra Classic (LUNC) will likely trade at $0.000174 by March 31. The forecast indicates that LUNC will potentially continue its bullish momentum in the coming days and forecasts it will gain over 2% from its current price of $0.0001506. The algorithm originally predicted that LUNC would trade at $0.000156 on March 1.
Despite the volatile price structure, good news for the LUNC community is that token burns are accelerating. In particular, Binance has undergone a critical upgrade aimed at restoring the functionality of the LUNC burn mechanism. The upgrade is expected to improve the overall stability and security of the overall Terra ecosystem.
Terra Classic investors pay attention to these developments.
Concerns are also expressed about the increasing number of LUNC validators about Terra Classic. The fact that some validators offer staking services with zero commission has sparked controversy. In this case, some key network players have argued that the approach means zero development. Alongside the network upgrades, the development around the lawsuit filed by the SEC against founder Do Kwon will likely affect the trajectory of all Terra ecosystem tokens.
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