Terra Luna Classic (LUNC) price continues its downward trend. The price for the smart contract cryptocurrency currently sits 7% below its last weekly high of $0.0000168. Luna Classic is currently priced at 0.00005798, up 0.19% till press time.
After briefly dipping below 25,000, Bitcoin has shown a great recovery. The largest cryptocurrency is now trading at $26,613. Due to this recovery in Bitcoin, the prices of altcoin also responded positively. However, LUNC crypto seems to be lagging, as it has only gained 2.5% in the past three days.
Binance To Support LUNC Crypto Upgrade
One of the largest centralized crypto exchanges, Binance, announced that it will support the network for Terra Luna Classic. The exchange added that the v2.2.1 core upgrade will happen once the block height reaches 14514000. The upgrade brings key changes that were passed through the voting among the Luna community.
In other news, the total value locked (TVL) continues to drop. As of 14th September 2023, the Terra Classic blockchain has about $1.59 million locked. This amount is expected to decrease further if Terra Luna price further collapses as it is the most staked asset on the network.
Terra Luna Classic Price Forecast
The price chart for LUNC shows that the price is sitting 27.43% below the $0.00008 range low. The chart also shows the price continues to make lower highs after plunging below the trading range of $0.00011-$0.00008.
Terra Luna Classic price prediction is not looking good for the bulls as bearish sentiment surrounds the smart contract cryptocurrency. A reclaim of the $0.00008 level is critical for the price to see any upside. Otherwise, the price may drop another 28.7% to retest the $0.000041 support level.
I’ll keep posting my updated LUNC price analysis and upcoming 1000x gems on my Twitter, where you are welcome to follow me.