Terra Luna Classic Price Prediction as LUNC Falls Below $0.00008 Level – Is It All Over?

cryptonews.com:

The Terra Luna Classic price has fallen below $0.00008 this morning after a 2% dip in the past 24 hours, with the altcoin also down by 3.5% in the last seven days and by 10% in the past fortnight.

Such declines should be concerning for LUNC holders, yet what's even more troubling is the fact that the cryptocurrency has declined by 1.5% since the beginning of the year, in contrast to coins such as Bitcoin (BTC) and Ethereum (ETH), which have gained by 75% and 53%, respectively.

This drastic underperformance highlights the troubled situation in which Terra Luna Classic continues to find itself, with investors waiting desperately for significant developments in terms of the re-pegging of USTC (LUNC's related stablecoin) and the burning of LUNC itself.

And with there being little immediate prospect of a breakthrough on such fronts, it's likely that LUNC will continue to fall in the short- and medium-term.

LUNC's indicators don't look to be in a healthy position at the moment, with its 30-day moving average (yellow) continuing to drop further below its 200-day average (blue), in a sign of rapidly declining momentum.

It's a similar story with the coin's relative strength index (purple), which has remained under 50 for the past week and which fell under 40 earlier this morning, suggesting that more losses could be coming.

Strengthening this pessimism is the fact that LUNC's support level (green) has been dropping steadily since the middle of July, and with the coin's price falling below $0.00008 earlier today, things could easily get distinctly worse.

What this means is that, even though LUNC appears to be oversold and undervalued, its severe loss of momentum could result in it failing to recover anytime soon.

And the fundamental