Terra Luna Classic Price Prediction as LUNC Falls Below $500 Million Market Cap – Is It All Over?
The price of Terra Luna Classic (LUNC) remains unchanged in the past 24 hours after witnessing a dip and a rebound this morning, with the altcoin now down by 1% in the past week and by 7% in the past month.
These movements mean that LUNC's market cap has dropped below $500 million and now stands at around $450 million, a clear sign of the consistent losses the altcoin has suffered this year.
In fact, LUNC remains down by 46% since the beginning of January, with the coin unable to recover in the face of continued disunity in the Terra Luna Classic community, which is currently unable to rally around a single course of action for restoring the altcoin and its ecosystem.
LUNC's chart doesn't really offer much in the way of hope at the moment, with the coin's relative strength index (purple) struggling to move beyond the 50 level, where it has languised for the past couple of weeks.
It's basically the same with LUNC's 30-day moving average (yellow), which has fallen some way below its 200-day average (blue), providing a signal that the coin still lacks momentum and buying pressure.
Perhaps even more discouragingly, LUNC's support level (green) has been falling steadily for the best of a month, and in fact for most of the year.
This is bad news, since it suggests the coin and its holders can't resist further drops to new lows, and that there's nothing really holding the coin up.
As we've written numerous times in recent weeks, LUNC's problems are fundamental, in that the coin can't and won't do anything positive without the Terra Luna Classic community coalescing around a clear plan of action for its development and that of its ecosystem.
Indeed, it seems that every week brings a new governance proposal that, while it sounds
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