Terra Luna Classic Price Prediction as Former CEO Do Kwon Trial is Pushed Back – What’s Going On?
The Terra Luna Classic price has dropped by 1.5% in the past 24 hours, slipping to $0.000123 after a US federal judge delayed the SEC’s trial against Terraform Labs founder Do Kwon.
LUNC is now up by 3% in the past week, yet remains down by 16.5% in the last 30 days and by a worrying 31% in the past year.
And with Do Kwon’s trial potentially set to shine an unflattering light on Terra and its workings, its delayed arrival on March 25 could have a negative impact on LUNC and its price.
However, the continuous attempts by the Terra Luna Classic community to introduce positive governance proposals and protocol changes may hopefully counteract any negative effects, assuming it can reach consensus.
LUNC’s chart does not make for particularly inspiring reading, in that its indicators continue to look pretty subdued, and are arguably more in line with further losses than renewed gains.
Most obviously, its relative strength index (purple) is stuck at around 45, and while it has lifted a little since early January it has begun to point slightly downwards again.
Likewise, LUNC’s 30-day average (yellow) is now sliding towards its 200-day (blue), a sign that the coin is in the middle of a decline.
Perhaps most disappointingly of all, LUNC’s 24-hour volume is exceedingly low, at only $30 million today.
By contrast, it stood at $1.3 billion back in early December, a sign that wider interest in the altcoin has basically collapsed.
As such, it’s more likely that the Terra Luna Classic price witnesses more losses over the next few weeks, rather than a strong recovery.
The upcoming trial involving founder Do Kwon won’t help matters either, with the SEC alleging that Terraform and Kwon made fraudulently exaggerated claims about the stability of
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