Terra Luna Classic Price Prediction as Terra Website Gets Hacked – Will LUNC Keep Falling?
The price of Terra Luna Classic (LUNC) has dropped by 1% in the past 24 hours, with the coin's fall to $0.00006553 coming after the terra.money website was hacked for phishing purposes.
LUNC is also down by 15% in the past week and by 25% in the last 30 days, with the altcoin having declined by 54% since the beginning of the year, in contrast to many major coins (e.g. BTC, ETH, XRP) which have gained substantially since January 1.
Terra Luna Classic has also struggled in recent months to make significant progress with regards to network upgrades and development updates, with governance proposals continuing to generate contentious differences of opinion among community members.
However, one recent proposal to burn 800 million USTC passed this week, lending hope to those waiting on significant gains for LUNC.
Even though LUNC's indicators are currently weak, they aren't quite as weak as they were a couple of days ago, while they also look ready to help the altcoin mount a recovery.
Its relative strength index (purple) has climbed back up to 30 after sinking below 20 over the weekend, suggesting a slight recovery of momentum that may potentially translate into a rebound in the next few days.
Additionally, LUNC's 30-day moving average (yellow) has fallen way below its 200-day average (blue), a position which signals substantial overselling and undervaluation, and which may also signal a strong incoming recovery.
On the other hand, LUNC is an unusual case, in that it has been declining steadily since the beginning of the year, something which suggests it may be in a state of terminal decline (from which it can't ever recover).
This decline was made to seem all the more severe this week, after Terra's official Twitter account warned
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