It has been a difficult week for cryptocurrencies as most of them crashed following Donald Trump’s decision to impose tariffs on Mexico, China, and Canada. Most of them rebounded after the Mexico and Canada ones were paused on Monday.
Bitcoin remains below $100,000, while the market valuation of these coins fell to $3.2 trillion. This crypto price prediction piece looks at top coins like Terra Luna Classic (LUNC), Monero (XMR), and Litecoin (LTC).
Terra Luna Classic (LUNC) price prediction
The LUNC price had a big week after Binance executed a big token burn. Over 1.68 billion LUNC tokens have been incinerated in the last 7 days, bringing the total burned tokens to over 402.5 billion tokens.
A token burn is a situation where they are moved from circulation and stored into an address that is impossible to access. The goal is usually to create value to existing tokens similarly to how share buybacks work.
The weekly chart shows that the LUNC token price has been in a strong downward trend in the past few months. It dropped to a low of $0.00005325 this week, a notable level since it was the lowest point since December 2023.
The LUNC coin price has remained below the 50-week and 25-week moving averages. It has also formed a falling triangle pattern, a popular bearish sign in the market. Therefore, the coin will likely continue slipping with the next point to watch being at $0.0000355, its all-time low.
The bearish view will become invalid if the LUNC price rebounds and moves above the descending trendline that connects the highest swings since September 2022.
LUNC price chart by TradingView
Monero (XMR)
Monero, the biggest privacy-focused coin in the industry, has done well in the past few months as it exited a prolonged consolidation. The XMR price rose after a judge ruled in favor of Tornado Cash, the popular crypto mixer network.
The weekly chart shows that the coin eventually jumped above the important resistance level at $185.60, where it failed to rise above since January 2023.This price was also notable because it was the neckline of the inverse head and shoulders pattern.
Monero has remained above the 50-week and 25-week Exponential Moving Averages (EMA), a sign that bulls are in control for now. The MACD and the Relative Strength Index (RSI) have continued rising.
Therefore, the coin will continue rising as bulls target the next key resistance level at $310, the 50% retracement point that is about 32% above the current level. A drop below the support at $200 will invalidate the bullish view.
Monero price chart by TradingView
Litecoin price forecast
Litecoin price remained under pressure this week as most altcoins fell. It dropped to a low of $81.7 this week and then quickly rallied to a high of $105.65. The coin has remained above the 60-week moving average, and is slowly forming a bullish pennant pattern. This pattern comprises a long vertical line and a symmetrical triangle pattern.
Litecoin is now forming a small hammer pattern, which is made up of a small body and a long shadow. A hammer is one of the most popular reversal signs in the market. If it works out, the next level to watch will be at $150.
The key catalyst for the coin is the potential approval of a spot LTC ETF by the Securities and Exchange Commission (SEC). That approval will likely lead to hype and some inflows from investors. However, as with Ethereum, there are chances that the Litecoin ETFs will not attract substantial inflows.
LTC price chart by TradingView
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