Terra Luna Classic Price Prediction as LUNC Drops 47% From Local Top – Next Leg Up Starting Soon?
The Terra Luna Classic price has gained by 2.5% in the past 24 hours, reaching $0.000132 on a day when the crypto market as a whole posts a very slight 0.5% rise.
LUNC’s modest increase today means that the coin is now down by 30% in a week and by 47% in relation to its three-month high of $0.0002.
It gets worse for the altcoin, in that its sustained falls over the past week have left it with only a 0.5% gain in a month and a 1% increase in year.
Such underperformance points to the severe problems Terra Luna Classic has been having in restoring itself, yet it’s also arguable that the market’s overselling of LUNC could help it bounce aggressively sooner or later.
LUNC’s chart makes for some grim reading, with its indicators all signalling that the coin is in the middle of a sustained contraction.
Alarmingly, the coin’s RSI (purple) has been more or less below 50 for just over ten days now, suggesting its failure to attract interest from new buyers.
It’s also concerning that the coin has been trading in a very narrow band between its resistance (red) and support (green) levels, both of which have been declining precipitously.
This doesn’t bode well for LUNC’s immediate future, neither does the fact that its price has fallen below its 30-day (yellow) and 200-day (blue) averages.
This all suggests that we can expect the Terra Luna Classic price to fall further in the near future, before hopefully correcting upwards.
We are still holding $LUNC Strongly
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