According to crypto analyst Varinder Singh, LUNC will witness a massive rally in December. Analyst Kelvin Munene predicts Polkadot’s bull run will continue. Analyst James Obande evaluates altcoin projects that have outperformed last week.
“Terra Classic (LUNC) will record a big rally”
According to crypto analyst Varinder Singh, LUNC will witness a massive rally in December. The community is already preparing for the upcoming changes and price increases, with developers, validators, and projects submitting various offers. The LUNC price dropped to $0.00015 following the collapse of crypto exchange FTX. Still, the price is now showing signs of recovery as LUNC staked and burned LUNC grows rapidly.
Terra Rebels introduced the v23 upgrade after successfully deploying the Terra Classic v22 upgrade, which enabled governance changes, staking, and burning. The upgrade aims to re-enable cross-chain communication (IBC) between the Cosmos Blockchain and the Terra Classic ecosystem. IBC channels were closed during the UST depeg to avoid loss of funds.
Upgrades at the validator and network levels will help bring the utility back and increase the price of the LUNC. Meanwhile, the community expects Binance to burn at least 20-25 billion LUNC tokens on Dec. Binance has burned 13.712 billion LUNC tokens so far.
“The Polkadot (DOT) bull run will continue”
Crypto analyst Kelvin Munene predicts that Polkadot’s bull run will continue. After several hours of bear domination, Polkadot bulls pushed prices up 1.45% to $5.50. Thus, it managed to invalidate the bear trend.
Web3 DApp with advanced staking and transfers in Polkadot supports this rise. The market cap of DOT rose 3.30% to $6,357,210,853. This reinforced the bullish trend. However, low market interest persisted, as evidenced by the 17.36% drop in 24-hour trading volume. This arose as a result of the asking prices for sellers not being as low as those offered by potential buyers.
DOT 24-hour price chart / Source: CoinMarketCapThis trend indicates an increase in market volatility as the Bollinger Bands in the 2-hour price widen, reaching the upper band 5.53 and the lower band 5.21. This market mood is likely to continue as the market price fluctuates towards the upper range. With the 0.05 data, the Moving Average Convergence Divergence (MACD), a bullish signal, is trading above the signal line and in the positive territory. Also, the upbeat histogram trend with 0.02 data is prolonging the anger of the current bulls. On the 2-hour price chart, the Rate of Change (ROC) is moving with a data of 3.20. This shows that the dominant bull run will continue.
DOT 2-hour price chart / Source: CoinMarketCapA bullish indicator, a golden cross occurs when a short-term moving average crosses a long-term average on the DOT price chart. This is evident where the 5-day MA and 20-day MA touch at 5.47 and 5.37, respectively. Additional bullish control is likely to continue as long as the price oscillates above both MAs. However, the overbought Stoch RSI trend at 88.39 overshadows this positive trend. This worries investors. On the other hand, this trend only serves as a warning for traders. Because price reversal is not always necessary.
DOT 2-hour price chart / Source: CoinMarketCapAs long as the bulls hold the resistance level, it is possible that the bullish dominance will continue in the Polkadot market.
Top 3 altcoin performances of the week: LTC, CRV and ZEC
As you follow on Kriptokoin.com, the current market uncertainty has caused traders and investors to drift away from the market. Because there is no guarantee that they will gain value in the near future. However, there were some top performers last week. Crypto analyst James Obande is evaluating these altcoin projects.
Litecoin (LTC)
Altcoin has shown itself as a stand-up artist in the past weeks and days. LTC’s price on the daily chart has shown bullish strength despite continued market uncertainty and further FUD affecting major crypto projects that continue to thrive in this bear market. LTC witnessed its price trading in the $60 region on the daily chart.
Still, the price bounced off this zone as the price of LTC surged towards $80 before encountering minor resistance against the higher trend. If the price of LTC stays above $75, more rallies towards the $90 region are possible.
Curve DAO Token (CRV)
The price is trading above the $0.65 support after bouncing off the daily low of $0.4. Hence, altcoin price continues to be quite strong on the daily timeframe.
The price of CRV is trading below the 50 and 200 EMA at $0.7. Prices of $0.77 and $1.2 correspond to prices at these levels and act as resistance. If CRV price breaks and rises above $0.8, a further rally towards the $1.2 zone is possible. However, here the CRV is likely to face resistance to the uptrend.
Zcash (ZEC)
The price bounced off its daily low of $30. It then traded above the $40 support. So, ZEC price continues to be quite strong on the daily timeframe.
ZEC’s price is currently trading below the 50 and 200 EMA at $42. Also, this level acts as a resistance for ZEC. Prices of $49 and $70 correspond to prices at these levels and act as resistance. ZEC price needs to break this zone for any further signs of relief.
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