Terra Luna Classic as LUNC Plummets 30% in a Month – Is It Going to Zero?
Terra Luna Classic has dropped by 1.5% in 24 hours, with its fall to $0.0001288 also representing a 4% loss in a week.
In fact, the altcoin has declined by 30% in the last 30 days, in contrast to much of the market, with most major coins enjoying healthy rises in the last month.
It’s entirely arguable that such a fall is a sign of LUNC’s ongoing long-term decline, with its community seemingly powerless to stop its descent.
But while there may be plenty of better investment options in the market, some followers continue to hold out hope for a recovery.
LUNC’s chart looks pretty negative at the moment, with its indicators all pointing to further declines in the near term.
For instance, its 30-day average (orange) continues to sink further below its 200-day (blue), providing a signal that selling pressure is only increasing for the token, and isn’t showing any signs of stopping.
LUNC’s relative strength index (purple) also looks bad, having declined below 50 this morning, and having struggled to rise for much of this week.
In other words, it’s a pretty depressing time for Terra Luna Classic, with its resistance (red) and support (green) levels also pointing to incoming drops.
Another sign of just how bad things have become is LUNC’s trading volume, which is minuscule at $21 million today.
To put this in some context, it regularly topped $3 billion in the weeks preceding its infamous May 2022 collapse.
This shows how it has never really recovered, and that outside of its loyal supporters, the wider market still doesn’t want to touch it.
Lot of procedural back and forth on Do Kwon's possible extradition from Montenegro. Now it seems like US may have first crack.https://t.co/qFTnJj89Go
— Jacob Silverman (@SilvermanJacob) April 8, 2024
Thi
Read more on cryptonews.com
