Terra Luna Classic Price Prediction: LUNC Disppoints Once Again

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Ter­ra Luna Clas­sic price (LUNC/USD) has failed to impress cryp­to investors as the price is con­sol­i­dat­ing below key sup­port. Things can get ugly if the price doesn’t reclaim the $0.000138 lev­el soon. LUNC cryp­to is cur­rent­ly 99.9% down from its all-time high.

On Mon­day, Ter­ra Luna cryp­tocur­ren­cy start­ed the week with a minor loss. Till press time, the coin was trad­ing at $0.000124 after los­ing 0.63% dur­ing today’s trad­ing ses­sion. Most oth­er alt­coins are also show­ing neg­a­tive price action as Bit­coin is strug­gling to break above $28000.

Why Is LUNC Crypto 99.9% Down?

The fall of Ter­ra Luna Clas­sic is one of the major rea­sons behind the ongo­ing bear mar­ket. Just ten months ago, LUNA was one of the biggest cryp­tocur­ren­cies by mar­ket cap. How­ev­er, the col­lapse of the biggest DeFi pro­to­col on its blockchain, known as Anchor, led to an expo­nen­tial emis­sion of coins. This mas­sive increase in cir­cu­lat­ing sup­ply reduced the price to just a frac­tion of its all-time high of $119.8.

Soon after the fall of Ter­ra, a new blockchain with a new token was released. Since then, Luna Clas­sic price has lost 99.9% of its val­ue. Nev­er­the­less, the com­mu­ni­ty of hold­ers still keeps back­ing the project despite the project being aban­doned by its founders. More recent­ly, the founder of Ter­ra LUNA, Do Kwon, has been arrest­ed in Montenegro.

Terra Luna Classic Price Accumulates Below Support

The price chart of LUNC cryp­to depicts a pro­longed side­ways price action since Novem­ber. It also shows that the price has bro­ken below the key sup­port lev­el and range lows of $0.000138. At the moment, the price is accu­mu­lat­ing below this sup­port and gear­ing up for a big move. A break below the March low of $0.000115 may lead to a big­ger drop to the $0.000085 level.

It is also worth men­tion­ing that Ter­ra Luna clas­sic price pre­dic­tion also depends on the Bit­coin price action. There­fore, the price can reclaim its $0.000138 sup­port if Bit­coin gains strength above the $28,000 lev­el in the com­ing days.

Fol­low Abdul­lah Sar­war on Twit­ter for the lat­est LUNC updates and price analysis.

Ter­ra (LUNC/USD) LUNA Price



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