Terra Luna Classic Is Going to Zero as LUNC Plummets 10%, But Eco-Friendly Crypto Ecoterra Just Hit $5.6 Million – How to Buy Early?
The crypto market's current valuation sits at a remarkable $1.19 trillion, indicating an increase of 1.75% in the last 24 hours.
This surge points towards positive market conditions, with several altcoins experiencing price uptrends.
However, some assets like Terra Luna Classic ($LUNC) have been on a continuous decline, resulting in over 99.9% loss for early investors.
As $LUNC continues to plummet further, another emerging asset, $ECOTERRA, shows bullish potential due to its green initiative utilities and market optimism that could generate over 100x gains.
Analyzing the price movements of Terra Luna Classic ($LUNC) in recent weeks has revealed the significant influence that the combined forces of community and utility can have on a crypto asset.
Since news of the United States Securities and Exchange Commission (SEC) lawsuit against Do Kwon, the founder of Terraform Labs, the price of $LUNC has experienced a significant downtrend.
The situation worsened when news of Do Kwon's arrest spread through global crypto communities, leading to doubts about the profitability and long-term viability of $LUNC.
The negative news affected the community's trust in the once-promising token, as it lacked a value-driven utility to support a substantial price recovery.
At press time, $LUNC trades at $0.000089 per token, representing a significant decline of 100% from its all-time high of $119.18 achieved on April 5, 2022.
The asset has consistently faced resistance from the 50-day simple moving average (SMA) at $0.00009054 and the 200-day SMA at $0.000131, indicating a bearish trend.
Its relative strength index (RSI) sits at 47.66, a drop from its previous 48.29, which indicates a further decline to an underbought zone.
While $LUNC's price
Read more on cryptonews.com
